Quest Diagnostics Inc. (DGX) Position Held by Nordea Investment Management AB
Nordea Investment Management AB maintained its stake in Quest Diagnostics Inc. (NYSE:DGX) during the second quarter, Holdings Channel reports. The institutional investor owned 6,683 shares of the company’s stock at the end of the second quarter. Nordea Investment Management AB’s holdings in Quest Diagnostics were worth $544,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of DGX. Capital One National Association boosted its stake in Quest Diagnostics by 21.3% in the second quarter. Capital One National Association now owns 6,970 shares of the company’s stock valued at $568,000 after buying an additional 1,224 shares during the period. Regentatlantic Capital LLC boosted its stake in Quest Diagnostics by 25.2% in the second quarter. Regentatlantic Capital LLC now owns 10,396 shares of the company’s stock valued at $846,000 after buying an additional 2,093 shares during the period. Trust Co. of Vermont boosted its stake in Quest Diagnostics by 63.2% in the second quarter. Trust Co. of Vermont now owns 2,845 shares of the company’s stock valued at $232,000 after buying an additional 1,102 shares during the period. Hills Bank & Trust Co. acquired a new stake in Quest Diagnostics during the second quarter valued at approximately $206,000. Finally, Douglass Winthrop Advisors LLC acquired a new stake in Quest Diagnostics during the second quarter valued at approximately $206,000. Institutional investors own 91.35% of the company’s stock.
Quest Diagnostics Inc. (NYSE:DGX) traded up 0.24% during trading on Friday, reaching $83.25. The company had a trading volume of 1,142,268 shares. The stock has a 50 day moving average of $84.44 and a 200-day moving average of $77.94. Quest Diagnostics Inc. has a 12 month low of $59.66 and a 12 month high of $86.85. The company has a market capitalization of $11.57 billion, a P/E ratio of 14.53 and a beta of 0.66.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.91 billion. Quest Diagnostics had a return on equity of 14.41% and a net margin of 11.02%. Quest Diagnostics’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. Equities research analysts expect that Quest Diagnostics Inc. will post $5.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, September 30th. Quest Diagnostics’s payout ratio is 28.02%.
Several analysts have commented on the company. Canaccord Genuity set a $90.00 price target on Quest Diagnostics and gave the company a “buy” rating in a report on Wednesday. Mizuho restated a “neutral” rating and issued a $86.00 price target on shares of Quest Diagnostics in a report on Tuesday, September 13th. Citigroup Inc. assumed coverage on Quest Diagnostics in a report on Friday, September 9th. They issued a “neutral” rating and a $86.00 price target for the company. Evercore ISI restated a “hold” rating and issued a $89.50 price target (up previously from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Finally, Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $94.00 price target for the company 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 given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $82.55.
In related news, Director Jenne K. Britell sold 4,000 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $84.76, for a total transaction of $339,040.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey M. Leiden sold 6,345 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $85.62, for a total value of $543,258.90. Following the transaction, the director now directly owns 7,233 shares in the company, valued at $619,289.46. The disclosure for this sale can be found here. Corporate 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.
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