BTC Capital Management Inc. cut its stake in shares of Quest Diagnostics Inc. (NYSE:DGX) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 52,050 shares of the company’s stock after selling 656 shares during the period. BTC Capital Management Inc.’s holdings in Quest Diagnostics were worth $4,237,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Citizens Financial Group Inc RI boosted its stake 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 last quarter. Financial Architects Inc boosted its stake 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 last quarter. Integrated Investment Consultants LLC boosted its stake 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 last quarter. Creative Planning boosted its stake 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 last quarter. Finally, Lazard Asset Management LLC boosted its stake 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 last quarter. Institutional investors own 91.29% of the company’s stock.
Quest Diagnostics Inc. (NYSE:DGX) traded down 0.67% during midday trading on Wednesday, reaching $83.14. The company’s stock had a trading volume of 553,927 shares. The company has a 50 day moving average of $83.65 and a 200-day moving average of $80.44. Quest Diagnostics Inc. has a 1-year low of $59.66 and a 1-year high of $86.85. The company has a market capitalization of $11.56 billion, a P/E ratio of 14.51 and a beta of 0.70.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.34 EPS for the quarter, beating 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 return on equity of 14.41% and a net margin of 11.02%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Equities research analysts anticipate that Quest Diagnostics Inc. will post $5.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Tuesday, October 4th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, September 30th. Quest Diagnostics’s dividend payout ratio is currently 28.02%.
Several brokerages have issued reports on DGX. Mizuho restated a “neutral” rating and issued a $86.00 target price on shares of Quest Diagnostics in a report on Tuesday, September 13th. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Monday, July 11th. Citigroup Inc. started coverage on Quest Diagnostics in a report on Friday, September 9th. They set a “neutral” rating and a $86.00 price target for the company. Jyske Bank cut Quest Diagnostics from a “neutral” rating to a “sell” rating in a report on Friday, June 24th. Finally, Evercore ISI reiterated a “hold” rating and set a $89.50 price target (up 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, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $82.45.
In other news, Director John B. Ziegler sold 1,000 shares of Quest Diagnostics stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jenne K. Britell sold 4,000 shares of Quest Diagnostics stock in a transaction on Friday, August 19th. The shares were 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 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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