Vanguard Group Inc. raised its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,963,272 shares of the medical research company’s stock after acquiring an additional 89,648 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Quest Diagnostics worth $1,523,411,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in DGX. Thoroughbred Financial Services LLC grew its position in shares of Quest Diagnostics by 10,065.6% in the second quarter. Thoroughbred Financial Services LLC now owns 1,664,620 shares of the medical research company’s stock valued at $166,462,000 after purchasing an additional 1,648,245 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of Quest Diagnostics by 587.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,362,204 shares of the medical research company’s stock valued at $122,489,000 after purchasing an additional 1,163,946 shares in the last quarter. FMR LLC grew its position in shares of Quest Diagnostics by 63.0% in the first quarter. FMR LLC now owns 2,116,785 shares of the medical research company’s stock valued at $190,341,000 after purchasing an additional 818,490 shares in the last quarter. BlackRock Inc. grew its position in shares of Quest Diagnostics by 4.2% in the first quarter. BlackRock Inc. now owns 13,551,752 shares of the medical research company’s stock valued at $1,218,576,000 after purchasing an additional 543,437 shares in the last quarter. Finally, Davis Selected Advisers grew its position in shares of Quest Diagnostics by 10.0% in the second quarter. Davis Selected Advisers now owns 4,001,170 shares of the medical research company’s stock valued at $407,359,000 after purchasing an additional 362,109 shares in the last quarter. 89.68% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on DGX shares. Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price target for the company in a research report on Wednesday, July 24th. Evercore ISI restated a “buy” rating and issued a $108.00 price target on shares of Quest Diagnostics in a research report on Thursday, August 8th. Credit Suisse Group upped their price target on Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Quest Diagnostics from $100.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Goldman Sachs Group lowered Quest Diagnostics from a “neutral” rating to a “sell” rating and dropped their price target for the company from $90.00 to $85.00 in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Quest Diagnostics currently has a consensus rating of “Hold” and an average target price of $105.06.
Quest Diagnostics stock traded up $1.70 during mid-day trading on Friday, hitting $107.42. The company’s stock had a trading volume of 1,234,185 shares, compared to its average volume of 937,698. The firm has a market capitalization of $14.30 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Quest Diagnostics Inc has a 1 year low of $78.95 and a 1 year high of $108.76. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $102.23 and its two-hundred day moving average is $97.30.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.04. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.75 earnings per share. On average, equities analysts expect that Quest Diagnostics Inc will post 6.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be given a $0.53 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $2.12 annualized dividend and a yield of 1.97%. Quest Diagnostics’s payout ratio is 33.60%.
About Quest Diagnostics
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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