Commonwealth Equity Services Inc Purchases 976 Shares of Quest Diagnostics Incorporated (DGX)
Commonwealth Equity Services Inc grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,289 shares of the medical research company’s stock after buying an additional 976 shares during the period. Commonwealth Equity Services Inc’s holdings in Quest Diagnostics were worth $1,712,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its holdings in Quest Diagnostics by 4.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock worth $102,331,000 after purchasing an additional 48,921 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Quest Diagnostics by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock worth $54,171,000 after purchasing an additional 18,968 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in Quest Diagnostics by 6.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 22,604 shares of the medical research company’s stock worth $2,511,000 after purchasing an additional 1,398 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Quest Diagnostics by 12.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 33,104 shares of the medical research company’s stock worth $3,680,000 after purchasing an additional 3,719 shares in the last quarter. Finally, Cipher Capital LP lifted its holdings in Quest Diagnostics by 108.2% during the 2nd quarter. Cipher Capital LP now owns 86,312 shares of the medical research company’s stock worth $9,594,000 after purchasing an additional 44,864 shares in the last quarter. 88.52% of the stock is currently owned by hedge funds and other institutional investors.
Quest Diagnostics Incorporated (NYSE DGX) opened at $91.62 on Friday. The firm has a market capitalization of $12,610.42, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.93 and a beta of 0.59. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.78. Quest Diagnostics Incorporated has a one year low of $86.89 and a one year high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 EPS. equities analysts predict that Quest Diagnostics Incorporated will post 5.65 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on DGX. Zacks Investment Research cut Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, July 28th. ValuEngine raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Canaccord Genuity reissued a “buy” rating and set a $118.00 price objective on shares of Quest Diagnostics in a report on Wednesday, September 13th. BidaskClub raised Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Morgan Stanley increased their price objective on Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Quest Diagnostics has a consensus rating of “Hold” and an average price target of $106.18.
In other news, CEO Stephen H. Rusckowski sold 53,933 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the transaction, the chief executive officer now directly owns 220,049 shares in the company, valued at approximately $23,800,499.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stephen H. Rusckowski sold 2,525 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $108.03, for a total value of $272,775.75. Following the transaction, the chairman now owns 168,413 shares in the company, valued at $18,193,656.39. The disclosure for this sale can be found here. Insiders have sold a total of 160,396 shares of company stock worth $17,343,852 over the last quarter. Corporate insiders own 1.75% 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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