Mutual of America Capital Management LLC reduced its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX – Get Rating) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,912 shares of the medical research company’s stock after selling 317 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Quest Diagnostics were worth $2,178,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Mystic Asset Management Inc. bought a new position in Quest Diagnostics during the 4th quarter valued at approximately $25,000. Wagner Wealth Management LLC purchased a new stake in Quest Diagnostics in the 4th quarter worth $35,000. Anfield Capital Management LLC grew its position in shares of Quest Diagnostics by 1,077.8% during the fourth quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. purchased a new position in Quest Diagnostics in the fourth quarter worth about $38,000. Finally, NuWave Investment Management LLC bought a new stake in Quest Diagnostics in the first quarter worth about $40,000. 89.89% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have issued reports on DGX shares. Wells Fargo & Company lifted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, April 25th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Thursday, July 7th. UBS Group boosted their target price on shares of Quest Diagnostics from $139.00 to $150.00 in a report on Sunday, April 24th. Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and cut their price target for the company from $175.00 to $140.00 in a report on Monday, April 4th. Finally, Mizuho reduced their price objective on shares of Quest Diagnostics from $185.00 to $160.00 and set a “maintains” rating for the company in a research note on Friday, July 22nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $149.25.
In related news, Director Timothy M. Ring sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $133.47, for a total value of $266,940.00. Following the sale, the director now owns 23,933 shares in the company, valued at approximately $3,194,337.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Timothy M. Ring sold 2,000 shares of Quest Diagnostics stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $133.47, for a total value of $266,940.00. Following the completion of the transaction, the director now owns 23,933 shares in the company, valued at $3,194,337.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen H. Rusckowski sold 282,408 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $140.12, for a total transaction of $39,571,008.96. Following the completion of the sale, the chief executive officer now directly owns 334,833 shares of the company’s stock, valued at approximately $46,916,799.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,012 shares of company stock valued at $46,920,991. Insiders own 1.70% of the company’s stock.
Quest Diagnostics Stock Up 0.7 %
DGX stock opened at $135.18 on Friday. Quest Diagnostics Incorporated has a twelve month low of $125.33 and a twelve month high of $174.16. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $135.55 and its 200-day moving average is $136.52. The firm has a market capitalization of $15.76 billion, a PE ratio of 11.25 and a beta of 1.03.
Quest Diagnostics (NYSE:DGX – Get Rating) last issued its earnings results on Thursday, July 21st. The medical research company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.10. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.34 billion. Quest Diagnostics had a return on equity of 24.62% and a net margin of 14.02%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.18 earnings per share. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.
Quest Diagnostics Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 20th. Shareholders of record on Wednesday, July 6th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.95%. The ex-dividend date was Tuesday, July 5th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 21.96%.
Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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