Achmea Investment Management B.V. decreased its position in Quest Diagnostics Inc (NYSE:DGX) by 32.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 43,435 shares of the medical research company’s stock after selling 21,232 shares during the period. Achmea Investment Management B.V.’s holdings in Quest Diagnostics were worth $4,684,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Quest Diagnostics by 8,866.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,076 shares of the medical research company’s stock valued at $118,000 after buying an additional 1,064 shares during the period. Fort L.P. acquired a new stake in shares of Quest Diagnostics during the 2nd quarter valued at $121,000. Capital Advisors Ltd. LLC bought a new position in shares of Quest Diagnostics during the 3rd quarter valued at $123,000. Flagship Harbor Advisors LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter valued at $126,000. Finally, Dupont Capital Management Corp raised its holdings in Quest Diagnostics by 64.4% in the 2nd quarter. Dupont Capital Management Corp now owns 1,202 shares of the medical research company’s stock worth $132,000 after acquiring an additional 471 shares during the period. 86.26% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on DGX shares. ValuEngine downgraded shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Friday. Mizuho set a $108.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a report on Tuesday, November 20th. Argus set a $106.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, October 24th. Bank of America started coverage on shares of Quest Diagnostics in a report on Friday, October 19th. They set a “buy” rating on the stock. Finally, Credit Suisse Group dropped their price objective on shares of Quest Diagnostics from $121.00 to $103.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Quest Diagnostics currently has a consensus rating of “Hold” and an average target price of $106.19.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, meeting the consensus estimate of $1.68. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business earned $1.38 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Quest Diagnostics Inc will post 6.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be given a $0.53 dividend. The ex-dividend date is Monday, January 14th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 2.33%. Quest Diagnostics’s payout ratio is 37.04%.
About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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