Robeco Institutional Asset Management B.V. lessened its position in Quest Diagnostics Inc (NYSE:DGX) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,914 shares of the medical research company’s stock after selling 10,336 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.11% of Quest Diagnostics worth $14,958,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in Quest Diagnostics in the first quarter valued at $42,000. Signaturefd LLC grew its stake in Quest Diagnostics by 74.7% during the 1st quarter. Signaturefd LLC now owns 505 shares of the medical research company’s stock worth $45,000 after purchasing an additional 216 shares in the last quarter. NEXT Financial Group Inc grew its stake in Quest Diagnostics by 166.7% during the 2nd quarter. NEXT Financial Group Inc now owns 480 shares of the medical research company’s stock worth $49,000 after purchasing an additional 300 shares in the last quarter. Stevens First Principles Investment Advisors acquired a new position in Quest Diagnostics during the 1st quarter worth $51,000. Finally, First Personal Financial Services grew its stake in Quest Diagnostics by 57.1% during the 1st quarter. First Personal Financial Services now owns 655 shares of the medical research company’s stock worth $59,000 after purchasing an additional 238 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
A number of brokerages have issued reports on DGX. JPMorgan Chase & Co. lifted their price target on Quest Diagnostics from $100.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity boosted their target price on Quest Diagnostics from $108.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group boosted their target price on Quest Diagnostics from $91.00 to $99.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their target price on Quest Diagnostics from $104.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Credit Suisse Group upped their price objective on 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 issued a hold rating and seven have given a buy rating to the company’s stock. Quest Diagnostics has an average rating of “Hold” and a consensus price target of $104.20.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts expect that Quest Diagnostics Inc will post 6.5 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, July 5th. Quest Diagnostics’s dividend payout ratio is currently 33.60%.
In related news, Chairman Stephen H. Rusckowski sold 244,565 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total value of $24,456,500.00. Following the sale, the chairman now owns 457,614 shares in the company, valued at approximately $45,761,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Guinan sold 73,005 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total value of $7,300,500.00. Following the completion of the sale, the insider now owns 139,022 shares in the company, valued at approximately $13,902,200. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.
Quest Diagnostics Profile
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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