SG Americas Securities LLC reduced its stake in Quest Diagnostics Incorporated (NYSE:DGX – Get Rating) by 33.3% in the first quarter, according to its latest communication with the Securities & Exchange Commission. The institutional investor owned 7,161 shares of the medical research company after selling 3,583 shares during the period. SG Americas Securities LLC’s holdings in Quest Diagnostics were worth $980,000 when it last filed with the Securities & Exchange Commission.
A number of other hedge funds have also been buying and selling stocks recently. Mystic Asset Management Inc. bought a new position in Quest Diagnostics stock in Q4 worth $25,000. Wagner Wealth Management LLC bought a new position in Quest Diagnostics in the fourth quarter worth about $35,000. Anfield Capital Management LLC increased its stake in Quest Diagnostics by 1,077.8% in the fourth quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company worth $37,000 after buying an additional 194 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in Quest Diagnostics stock during the fourth quarter, valued at approximately $38,000. Finally, NuWave Investment Management LLC purchased a new equity stake in Quest Diagnostics in Q1 worth approximately $40,000. Hedge funds and other institutional investors hold 89.89% of the company’s shares.
Changes to analyst ratings
DGX has been the subject of several analyst reports. StockNews.com upgraded Quest Diagnostics shares from a “hold” rating to a “buy” rating in a Thursday, July 7 research report. Citigroup downgraded Quest Diagnostics from a “buy” rating to a “neutral” rating and lowered its target price for the stock from $175.00 to $140.00 in a Monday, April 4 research note. Bank of America reduced its price target on Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, April 22. Mizuho lowered its price target on Quest Diagnostics from $185.00 to $160.00 and placed a “hold” rating on the stock in a research note on Friday, July 22. Finally, UBS Group raised its price target on Quest Diagnostics shares from $139.00 to $150.00 in a Sunday, April 24 research report. Six equity research analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.25.
Quest Diagnostics Stock Up 1.0 %
DGX stock opened at $136.57 on Friday. The company has a debt ratio of 0.62, a current ratio of 1.54 and a quick ratio of 1.42. The company’s fifty-day simple moving average is $135.46 and its 200-day simple moving average is $136.29. Quest Diagnostics Incorporated has a 12 month minimum of $125.33 and a 12 month maximum of $174.16. The company has a market capitalization of $15.92 billion, a P/E ratio of 11.36 and a beta of 1.03.
Quest Diagnostics (NYSE:DGX – Get Rating) last released its quarterly results on Thursday, July 21. The medical research company reported EPS of $2.36 for the quarter, beating the consensus estimate of $2.26 by $0.10. The company posted revenue of $2.45 billion for the quarter, versus analyst estimates of $2.34 billion. Quest Diagnostics had a net margin of 14.02% and a return on equity of 24.62%. The company’s revenue was down 3.8% year-over-year. In the same period a year earlier, the company had earned earnings per share of $3.18. As a group, equity research analysts expect Quest Diagnostics Incorporated to post earnings per share of 9.7 for the current year.
Quest Diagnostics Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 20. Shareholders of record on Wednesday, July 6 received a dividend of $0.66. The ex-dividend date was Tuesday July 5th. This represents an annualized dividend of $2.64 and a yield of 1.93%. Quest Diagnostics’ dividend payout ratio is currently 21.96%.
Insider Trading at Quest Diagnostics
Separately, director Timothy M. Ring sold 2,000 shares of the company in a trade on Friday, July 1. The shares were sold at an average price of $133.47, for a total value of $266,940.00. Following completion of the transaction, the administrator now directly owns 23,933 shares of the company, valued at approximately $3,194,337.51. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. In other news, CEO Stephen H. Rusckowski sold 282,408 shares of the company in a trade that took place on Tuesday, May 24. The stock was sold at an average price of $140.12, for a total transaction of $39,571,008.96. Following completion of the transaction, the CEO now directly owns 334,833 shares of the company, valued at approximately $46,916,799.96. The sale was disclosed in a filing with the SEC, which is available at this link. Additionally, director Timothy M. Ring sold 2,000 shares of Quest Diagnostics in a trade on Friday, July 1. The shares were sold at an average price of $133.47, for a total transaction of $266,940.00. Following the completion of the sale, the administrator now directly owns 23,933 shares of the company, valued at approximately $3,194,337.51. The disclosure of this sale can be found here. Insiders sold 335,012 shares of the company valued at $46,920,991 in the past 90 days. 1.70% of the shares are currently held by insiders of the company.
Quest Diagnostics Company Profile
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Quest Diagnostics Incorporated provides diagnostic testing, information, and service in the United States and around the world. The Company develops and provides diagnostic information services, such as routine testing, non-routine and advanced clinical testing, pathology testing and other diagnostic information services.
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