Aviance Capital Management LLC boosted its position in Quest Diagnostics Inc. (NYSE:DGX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,614 shares of the company’s stock after buying an additional 273 shares during the period. Aviance Capital Management LLC’s holdings in Quest Diagnostics were worth $376,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in DGX. Candriam Luxembourg S.C.A. raised its stake in shares of Quest Diagnostics by 47.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 217,486 shares of the company’s stock worth $17,706,000 after buying an additional 69,734 shares during the last quarter. Boston Advisors LLC raised its stake in shares of Quest Diagnostics by 3.9% in the second quarter. Boston Advisors LLC now owns 54,980 shares of the company’s stock worth $4,476,000 after buying an additional 2,063 shares during the last quarter. PGGM Investments raised its stake in shares of Quest Diagnostics by 2.9% in the second quarter. PGGM Investments now owns 217,234 shares of the company’s stock worth $17,685,000 after buying an additional 6,179 shares during the last quarter. Strs Ohio raised its stake in shares of Quest Diagnostics by 1.2% in the second quarter. Strs Ohio now owns 38,888 shares of the company’s stock worth $3,165,000 after buying an additional 457 shares during the last quarter. Finally, HL Financial Services LLC raised its stake in shares of Quest Diagnostics by 4.3% in the second quarter. HL Financial Services LLC now owns 4,874 shares of the company’s stock worth $397,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 91.33% of the company’s stock.
Quest Diagnostics Inc. (NYSE:DGX) traded up 0.32% during trading on Tuesday, hitting $84.88. The stock had a trading volume of 821,260 shares. The firm has a market capitalization of $11.80 billion, a P/E ratio of 14.81 and a beta of 0.66. Quest Diagnostics Inc. has a one year low of $59.66 and a one year high of $86.85. The stock has a 50 day moving average of $84.04 and a 200 day moving average of $78.94.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.02. Quest Diagnostics had a return on equity of 14.41% and a net margin of 11.02%. The business earned $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $1.25 EPS. Quest Diagnostics’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts expect that Quest Diagnostics Inc. will post $5.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Tuesday, October 4th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. Quest Diagnostics’s payout ratio is presently 28.02%.
A number of brokerages recently commented on DGX. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, September 21st. Canaccord Genuity set a $90.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Mizuho reiterated a “neutral” rating and issued a $86.00 price objective on shares of Quest Diagnostics in a research report on Tuesday, September 13th. Citigroup Inc. assumed coverage on Quest Diagnostics in a research report on Friday, September 9th. They issued a “neutral” rating and a $86.00 price objective for the company. Finally, Evercore ISI restated a “hold” rating and set a $89.50 target price (up previously from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $82.45.
In other Quest Diagnostics news, Director John B. Ziegler sold 1,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $84.36, for a total value of $84,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jenne K. Britell sold 4,000 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $84.76, for a total value of $339,040.00. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
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.
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