Boston Partners Sells 141,025 Shares of Quest Diagnostics Incorporated (NYSE:DGX)
Boston Partners cut its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 853,537 shares of the medical research company’s stock after selling 141,025 shares during the period. Boston Partners’ holdings in Quest Diagnostics were worth $94,879,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of DGX. BlackRock Inc. raised its stake in shares of Quest Diagnostics by 2,638.3% in the first quarter. BlackRock Inc. now owns 15,362,418 shares of the medical research company’s stock worth $1,508,435,000 after buying an additional 14,801,397 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Quest Diagnostics during the first quarter worth approximately $74,201,000. Marshall Wace North America L.P. acquired a new stake in shares of Quest Diagnostics during the first quarter worth approximately $74,201,000. Renaissance Technologies LLC raised its stake in shares of Quest Diagnostics by 755.2% in the first quarter. Renaissance Technologies LLC now owns 503,700 shares of the medical research company’s stock worth $49,458,000 after buying an additional 444,800 shares during the period. Finally, Janus Capital Management LLC raised its stake in shares of Quest Diagnostics by 34.2% in the first quarter. Janus Capital Management LLC now owns 1,339,007 shares of the medical research company’s stock worth $131,477,000 after buying an additional 341,476 shares during the period. Institutional investors own 90.97% of the company’s stock.
Quest Diagnostics Incorporated (DGX) opened at 106.10 on Friday. The stock has a market capitalization of $14.47 billion, a PE ratio of 21.38 and a beta of 0.69. The stock has a 50 day moving average price of $108.82 and a 200 day moving average price of $103.03. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post $5.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 24th. Stockholders of record on Monday, July 10th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.70%. Quest Diagnostics’s payout ratio is 36.29%.
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A number of analysts recently commented on DGX shares. Mizuho lifted their price target on Quest Diagnostics from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Canaccord Genuity lifted their price target on Quest Diagnostics from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Barclays PLC reiterated an “equal weight” rating and set a $100.00 price target (up from $98.00) on shares of Quest Diagnostics in a report on Sunday, April 23rd. Deutsche Bank AG reiterated a “buy” rating and set a $115.00 price target (up from $108.00) on shares of Quest Diagnostics in a report on Sunday, April 23rd. Finally, BidaskClub upgraded Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus target price of $109.62.
In related news, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total value of $141,783.92. Following the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at approximately $684,564.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 296 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $639,960. The disclosure for this sale can be found here. Insiders have sold a total of 61,362 shares of company stock worth $6,600,758 over the last three months. Insiders own 1.50% of the company’s stock.
Quest Diagnostics Company Profile
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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