IFM Investors Pty Ltd increased its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 64.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,107 shares of the medical research company’s stock after purchasing an additional 5,938 shares during the quarter. IFM Investors Pty Ltd’s holdings in Quest Diagnostics were worth $1,617,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Thomasville National Bank boosted its stake in shares of Quest Diagnostics by 12.2% during the 2nd quarter. Thomasville National Bank now owns 4,428 shares of the medical research company’s stock valued at $451,000 after buying an additional 480 shares during the period. Fulton Bank N.A. acquired a new stake in shares of Quest Diagnostics during the 2nd quarter valued at $429,000. DNB Asset Management AS boosted its stake in shares of Quest Diagnostics by 621.1% during the 2nd quarter. DNB Asset Management AS now owns 109,774 shares of the medical research company’s stock valued at $11,176,000 after buying an additional 94,551 shares during the period. Atwater Malick LLC boosted its stake in shares of Quest Diagnostics by 2.8% during the 2nd quarter. Atwater Malick LLC now owns 33,074 shares of the medical research company’s stock valued at $3,367,000 after buying an additional 894 shares during the period. Finally, Acropolis Investment Management LLC boosted its stake in shares of Quest Diagnostics by 2.7% during the 2nd quarter. Acropolis Investment Management LLC now owns 4,600 shares of the medical research company’s stock valued at $468,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Goldman Sachs Group lowered shares of Quest Diagnostics from a “neutral” rating to a “sell” rating and decreased their target price for the company from $90.00 to $85.00 in a research note on Monday, July 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, October 23rd. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price objective for the company in a research note on Monday, September 30th. Morgan Stanley lifted their price objective on shares of Quest Diagnostics from $111.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Credit Suisse Group lifted their price objective on shares of Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $105.27.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 22nd. The medical research company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.05. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a net margin of 9.58% and a return on equity of 15.32%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. As a group, sell-side analysts expect that Quest Diagnostics Inc will post 6.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Thursday, October 3rd. Quest Diagnostics’s dividend payout ratio is 33.60%.
In other Quest Diagnostics news, CAO Michael J. Deppe sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the completion of the transaction, the chief accounting officer now owns 28,671 shares of the company’s stock, valued at approximately $3,039,126. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.86% of the stock is owned by insiders.
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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