Mountain Pacific Investment Advisers Inc. ID held its stake in Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,050 shares of the medical research company’s stock at the end of the second quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in Quest Diagnostics were worth $450,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of DGX. YorkBridge Wealth Partners LLC boosted its stake in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares during the last quarter. Parallel Advisors LLC raised its position in Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after buying an additional 177 shares during the last quarter. Advisors Capital Management LLC purchased a new position in Quest Diagnostics during the first quarter valued at $164,000. Trust Co. of Vermont raised its position in Quest Diagnostics by 8.5% in the first quarter. Trust Co. of Vermont now owns 1,859 shares of the medical research company’s stock valued at $182,000 after buying an additional 145 shares during the last quarter. Finally, Perkins Capital Management Inc. purchased a new position in Quest Diagnostics during the first quarter valued at $201,000. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Quest Diagnostics Incorporated (NYSE DGX) traded up 0.46% during trading on Friday, reaching $106.10. 849,396 shares of the company’s stock were exchanged. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.96. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 21.38 and a beta of 0.69. The firm’s 50-day moving average price is $108.82 and its 200-day moving average price is $103.03.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm posted $1.34 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post $5.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 24th. Stockholders of record on Monday, July 10th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Thursday, July 6th. Quest Diagnostics’s dividend payout ratio is presently 36.29%.
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Several research analysts recently weighed in on DGX shares. Raymond James Financial, Inc. raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and set a $116.00 price objective on the stock in a research note on Friday, April 21st. Zacks Investment Research lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. BidaskClub lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Mizuho raised their target price on shares of Quest Diagnostics from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Credit Suisse Group restated a “neutral” rating and set a $110.00 target price (up from $83.00) on shares of Quest Diagnostics in a report on Thursday, July 13th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $109.62.
In other news, SVP Catherine T. Doherty sold 59,762 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the completion of the sale, the senior vice president now directly owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey M. Leiden sold 296 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $106.66, for a total value of $31,571.36. Following the sale, the director now directly owns 6,000 shares of the company’s stock, valued at $639,960. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,362 shares of company stock valued at $6,600,758. 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 Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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