Quest Diagnostics Incorporated (DGX) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 14.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 34,518 shares of the medical research company’s stock after buying an additional 4,328 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Quest Diagnostics were worth $3,837,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Airain ltd boosted its position in shares of Quest Diagnostics by 184.1% in the second quarter. Airain ltd now owns 14,539 shares of the medical research company’s stock valued at $1,616,000 after buying an additional 9,422 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Quest Diagnostics by 316.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,043,889 shares of the medical research company’s stock valued at $116,035,000 after buying an additional 793,085 shares during the period. GHP Investment Advisors Inc. boosted its position in shares of Quest Diagnostics by 6.2% in the second quarter. GHP Investment Advisors Inc. now owns 8,183 shares of the medical research company’s stock valued at $910,000 after buying an additional 478 shares during the period. Parallel Advisors LLC boosted its position in shares of Quest Diagnostics by 0.9% in the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock valued at $140,000 after buying an additional 12 shares during the period. Finally, Ifrah Financial Services Inc. purchased a new position in shares of Quest Diagnostics during the second quarter valued at about $221,000. Hedge funds and other institutional investors own 87.03% of the company’s stock.
Quest Diagnostics Incorporated (DGX) opened at 107.04 on Tuesday. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.96. The stock’s 50 day moving average price is $107.74 and its 200-day moving average price is $104.03. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 21.57 and a beta of 0.69.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $1.34 EPS. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is presently 36.29%.
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Several brokerages recently issued reports on DGX. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Morgan Stanley raised their price objective on Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Zacks Investment Research cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Bank of America Corporation upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $111.00 to $118.00 in a research note on Tuesday, July 25th. Finally, Piper Jaffray Companies raised their price objective on Quest Diagnostics to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $109.62.
In other Quest Diagnostics 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 value of $6,427,403.10. Following the sale, the senior vice president now owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total value of $141,783.92. Following the completion of the sale, the director now directly owns 6,296 shares in the company, valued at approximately $684,564.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,362 shares of company stock worth $6,600,758. Company 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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