Wrapmanager Inc. purchased a new stake in Quest Diagnostics Inc (NYSE:DGX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,578 shares of the medical research company’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Quest Diagnostics by 92.6% in the 4th quarter. IFP Advisors Inc now owns 262 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 126 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Quest Diagnostics during the 4th quarter worth $27,000. Wealthcare Advisory Partners LLC grew its position in Quest Diagnostics by 81.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 342 shares of the medical research company’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. Procyon Private Wealth Partners LLC bought a new stake in Quest Diagnostics during the 4th quarter worth $29,000. Finally, Valeo Financial Advisors LLC bought a new stake in Quest Diagnostics during the 1st quarter worth $30,000. Institutional investors own 90.37% of the company’s stock.
In related news, CEO Stephen H. Rusckowski sold 11,717 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $112.01, for a total transaction of $1,312,421.17. Following the transaction, the chief executive officer now directly owns 249,464 shares of the company’s stock, valued at approximately $27,942,462.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Stephen H. Rusckowski sold 230,178 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $112.67, for a total value of $25,934,155.26. Following the transaction, the chief executive officer now directly owns 456,738 shares in the company, valued at $51,460,670.46. The disclosure for this sale can be found here. Insiders sold a total of 255,476 shares of company stock worth $28,656,119 over the last three months. 1.49% of the stock is owned by company insiders.
Shares of NYSE:DGX opened at $112.83 on Friday. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 3.23 and a beta of 1.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.27. The business’s 50-day moving average is $99.72 and its 200-day moving average is $103.30. Quest Diagnostics Inc has a 1 year low of $73.02 and a 1 year high of $125.00.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Quest Diagnostics had a return on equity of 14.79% and a net margin of 10.36%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. Analysts anticipate that Quest Diagnostics Inc will post 4.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, July 7th. Quest Diagnostics’s dividend payout ratio is 34.15%.
DGX has been the topic of a number of research reports. SunTrust Banks boosted their price objective on Quest Diagnostics from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Thursday. Piper Sandler boosted their price objective on Quest Diagnostics from $102.00 to $107.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating and set a $107.00 price objective on the stock in a research report on Monday, March 16th. Mizuho reduced their price objective on Quest Diagnostics from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Finally, Cfra lowered Quest Diagnostics from a “strong-buy” rating to a “hold” rating and reduced their price target for the company from $140.00 to $106.00 in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $111.28.
Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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