Quest Diagnostics Incorporated (DGX) Stake Lessened by HighPoint Advisor Group LLC
HighPoint Advisor Group LLC decreased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 79.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,330 shares of the medical research company’s stock after selling 9,206 shares during the period. HighPoint Advisor Group LLC’s holdings in Quest Diagnostics were worth $218,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of DGX. WFG Advisors LP grew its holdings in shares of Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after purchasing an additional 301 shares during the last quarter. Sun Life Financial INC grew its holdings in shares of Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after purchasing an additional 990 shares during the last quarter. Parallel Advisors LLC grew its holdings 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 worth $140,000 after purchasing an additional 12 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Quest Diagnostics by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Quest Diagnostics in the second quarter worth approximately $180,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.
DGX has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Quest Diagnostics in a report on Thursday, October 12th. They issued a “market perform” rating and a $88.00 target price on the stock. Raymond James Financial, Inc. restated a “market perform” rating on shares of Quest Diagnostics in a report on Monday, September 25th. BidaskClub cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Bank of America Corporation upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $111.00 to $118.00 in a report on Tuesday, July 25th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and cut their price target for the company from $121.00 to $113.00 in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $106.18.
Shares of Quest Diagnostics Incorporated (DGX) traded up $0.42 during mid-day trading on Wednesday, hitting $92.42. 1,359,800 shares of the stock were exchanged, compared to its average volume of 982,335. Quest Diagnostics Incorporated has a 1 year low of $84.47 and a 1 year high of $112.96. The company has a market cap of $12,539.54, a PE ratio of 16.49, a PEG ratio of 1.92 and a beta of 0.59. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. The firm had revenue of $1.93 billion during 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%. Quest Diagnostics’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. equities research analysts expect that Quest Diagnostics Incorporated will post 5.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is presently 37.74%.
In other news, Chairman Stephen H. Rusckowski sold 59,235 shares of Quest Diagnostics stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $108.16, for a total value of $6,406,857.60. Following the completion of the transaction, the chairman now owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel Stanzione sold 3,803 shares of Quest Diagnostics stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total value of $410,762.03. Following the completion of the transaction, the director now directly owns 35,359 shares of the company’s stock, valued at approximately $3,819,125.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,396 shares of company stock valued at $17,343,852. 1.75% of the stock is owned by insiders.
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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