Hsbc Holdings PLC Lowers Holdings in Quest Diagnostics Incorporated $DGX

Hsbc Holdings PLC reduced its position in Quest Diagnostics Incorporated (NYSE:DGX) by 14.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 195,144 shares of the medical research company’s stock after selling 31,963 shares during the quarter. Hsbc Holdings PLC owned about 0.18% of Quest Diagnostics worth $38,204,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of DGX. Assenagon Asset Management S.A. boosted its stake in shares of Quest Diagnostics by 346.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,949 shares of the medical research company’s stock worth $4,329,000 after purchasing an additional 19,361 shares during the last quarter. Davis Selected Advisers raised its position in shares of Quest Diagnostics by 16.8% in the fourth quarter. Davis Selected Advisers now owns 1,589,883 shares of the medical research company’s stock valued at $275,895,000 after buying an additional 228,271 shares during the last quarter. Capital Management Associates Inc acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $1,024,000. SG Americas Securities LLC lifted its stake in shares of Quest Diagnostics by 694.2% during the fourth quarter. SG Americas Securities LLC now owns 179,653 shares of the medical research company’s stock valued at $31,175,000 after buying an additional 157,031 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its position in Quest Diagnostics by 178.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 171,987 shares of the medical research company’s stock worth $29,847,000 after acquiring an additional 110,280 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 1.5%

Shares of DGX opened at $207.44 on Tuesday. The firm has a market cap of $22.96 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.51 and a beta of 0.58. The company’s fifty day moving average is $200.87 and its two-hundred day moving average is $196.50. Quest Diagnostics Incorporated has a fifty-two week low of $165.30 and a fifty-two week high of $219.20. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.67.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.13. Quest Diagnostics had a return on equity of 15.60% and a net margin of 9.07%.The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Analysts forecast that Quest Diagnostics Incorporated will post 10.72 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, July 8th. Quest Diagnostics’s dividend payout ratio (DPR) is 38.01%.

Analysts Set New Price Targets

Several research firms have commented on DGX. Robert W. Baird lifted their target price on shares of Quest Diagnostics from $232.00 to $236.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings raised Quest Diagnostics from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating and set a $225.00 price objective on shares of Quest Diagnostics in a report on Tuesday, April 21st. Evercore set a $225.00 price objective on Quest Diagnostics in a research report on Tuesday, April 21st. Finally, Barclays upped their target price on Quest Diagnostics from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.17.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 8,147 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $200.00, for a total value of $1,629,400.00. Following the transaction, the senior vice president owned 13,510 shares in the company, valued at approximately $2,702,000. This trade represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of Quest Diagnostics stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the transaction, the chief executive officer directly owned 132,423 shares in the company, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.88% of the company’s stock.

Quest Diagnostics Company Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.