Advisors Asset Management Inc. boosted its position in shares of Quest Diagnostics Inc. (NYSE:DGX) by 28.6% during the second quarter, Holdings Channel reports. The institutional investor owned 12,306 shares of the company’s stock after buying an additional 2,735 shares during the period. Advisors Asset Management Inc.’s holdings in Quest Diagnostics were worth $1,002,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of DGX. Citizens Financial Group Inc RI raised its position in shares of Quest Diagnostics by 1,610.2% in the first quarter. Citizens Financial Group Inc RI now owns 1,676 shares of the company’s stock valued at $119,000 after buying an additional 1,578 shares during the period. Financial Architects Inc raised its position in shares of Quest Diagnostics by 6.4% in the second quarter. Financial Architects Inc now owns 1,476 shares of the company’s stock valued at $120,000 after buying an additional 89 shares during the period. Integrated Investment Consultants LLC raised its position in shares of Quest Diagnostics by 10.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,869 shares of the company’s stock valued at $152,000 after buying an additional 176 shares during the period. Creative Planning raised its position in shares of Quest Diagnostics by 13.5% in the second quarter. Creative Planning now owns 1,972 shares of the company’s stock valued at $161,000 after buying an additional 234 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Quest Diagnostics by 3.9% in the first quarter. Lazard Asset Management LLC now owns 2,285 shares of the company’s stock valued at $163,000 after buying an additional 86 shares during the period. Institutional investors own 91.33% of the company’s stock.
Shares of Quest Diagnostics Inc. (NYSE:DGX) traded up 1.546% during mid-day trading on Wednesday, hitting $84.385. 835,052 shares of the stock were exchanged. The stock’s 50 day moving average is $84.09 and its 200-day moving average is $78.47. Quest Diagnostics Inc. has a 12 month low of $59.66 and a 12 month high of $86.85. The stock has a market cap of $11.73 billion, a PE ratio of 14.724 and a beta of 0.66.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, July 21st. The company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.02. The business earned $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. Quest Diagnostics had a net margin of 11.02% and a return on equity of 14.41%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. On average, analysts anticipate that Quest Diagnostics Inc. will post $5.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Tuesday, October 4th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.93%. Quest Diagnostics’s payout ratio is 28.02%.
DGX has been the subject of several research reports. Canaccord Genuity set a $90.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, September 14th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Monday, July 11th. Mizuho restated a “buy” rating and issued a $84.00 price objective on shares of Quest Diagnostics in a report on Friday, June 3rd. Evercore ISI restated a “hold” rating and issued a $89.50 price objective (up from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Finally, Jefferies Group upped their price objective on shares of Quest Diagnostics from $75.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $82.45.
In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 6,345 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $85.62, for a total value of $543,258.90. Following the sale, the director now owns 7,233 shares in the company, valued at approximately $619,289.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jenne K. Britell sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $85.20, for a total value of $340,800.00. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Inc. (NYSE:DGX).
Receive News & Ratings for Quest Diagnostics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.