Bank of Montreal Can decreased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Get Rating) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 296,688 shares of the medical research company’s stock after selling 27,274 shares during the period. Bank of Montreal Can owned about 0.24% of Quest Diagnostics worth $50,987,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Anfield Capital Management LLC lifted its holdings in Quest Diagnostics by 1,077.8% in the fourth quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Quest Diagnostics by 62.3% in the fourth quarter. Lindbrook Capital LLC now owns 245 shares of the medical research company’s stock worth $42,000 after acquiring an additional 94 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Quest Diagnostics by 762.9% in the third quarter. Jones Financial Companies Lllp now owns 302 shares of the medical research company’s stock worth $44,000 after acquiring an additional 267 shares during the last quarter. Cordasco Financial Network bought a new position in Quest Diagnostics in the third quarter worth about $48,000. Finally, Wolff Wiese Magana LLC lifted its holdings in Quest Diagnostics by 62.1% in the fourth quarter. Wolff Wiese Magana LLC now owns 287 shares of the medical research company’s stock worth $50,000 after acquiring an additional 110 shares during the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.
In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 50,604 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $139.97, for a total value of $7,083,041.88. Following the transaction, the senior vice president now owns 39,224 shares in the company, valued at $5,490,183.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Catherine T. Doherty sold 2,750 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $126.26, for a total transaction of $347,215.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,582 shares of company stock worth $8,272,345. 1.45% of the stock is currently owned by company insiders.
Quest Diagnostics (NYSE:DGX – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The medical research company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.31. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.64 billion. Quest Diagnostics had a net margin of 17.61% and a return on equity of 27.08%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.76 earnings per share. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 20th. Shareholders of record on Wednesday, July 6th will be given a $0.66 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $2.64 annualized dividend and a yield of 1.87%. Quest Diagnostics’s dividend payout ratio (DPR) is 17.58%.
A number of equities analysts have issued reports on DGX shares. Bank of America cut their target price on shares of Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, April 22nd. Morgan Stanley cut their price target on Quest Diagnostics from $159.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, February 14th. Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and cut their price target for the company from $175.00 to $140.00 in a report on Monday, April 4th. UBS Group lifted their price target on Quest Diagnostics from $139.00 to $150.00 in a report on Sunday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut Quest Diagnostics from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $129.00 in a report on Friday, January 28th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $150.92.
Quest Diagnostics Company Profile (Get Rating)
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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