Schroder Investment Management Group Buys 10,102 Shares of Quest Diagnostics Inc (DGX)
Schroder Investment Management Group increased its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 590,844 shares of the medical research company’s stock after acquiring an additional 10,102 shares during the period. Schroder Investment Management Group owned about 0.43% of Quest Diagnostics worth $54,334,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Quest Diagnostics by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock worth $1,559,500,000 after acquiring an additional 525,200 shares during the last quarter. APG Asset Management N.V. grew its position in Quest Diagnostics by 156.0% during the 3rd quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock worth $251,320,000 after acquiring an additional 1,635,700 shares during the last quarter. Investec Asset Management LTD grew its position in Quest Diagnostics by 9.4% during the 2nd quarter. Investec Asset Management LTD now owns 2,178,678 shares of the medical research company’s stock worth $242,182,000 after acquiring an additional 186,477 shares during the last quarter. AJO LP grew its position in Quest Diagnostics by 137.9% during the 2nd quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock worth $237,243,000 after acquiring an additional 1,237,021 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Quest Diagnostics by 21.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,926,757 shares of the medical research company’s stock worth $180,422,000 after acquiring an additional 343,399 shares during the last quarter. Institutional investors and hedge funds own 89.20% of the company’s stock.
A number of research analysts have commented on the company. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. ValuEngine lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Jefferies Group set a $98.00 price objective on Quest Diagnostics and gave the company a “hold” rating in a research report on Saturday, November 25th. Morgan Stanley increased their price objective on Quest Diagnostics from $87.00 to $92.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Finally, SunTrust Banks set a $105.00 price objective on Quest Diagnostics and gave the company a “hold” rating in a research report on Sunday, October 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $106.28.
In related news, CEO Stephen H. Rusckowski sold 53,933 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Stephen H. Rusckowski sold 59,235 shares of the firm’s stock in a transaction on 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 sale, the chairman now directly owns 220,049 shares in the company, valued at approximately $23,800,499.84. The disclosure for this sale can be found here. In the last three months, insiders sold 160,396 shares of company stock worth $17,343,852. 1.75% of the stock is currently owned by company insiders.
Quest Diagnostics Inc (NYSE:DGX) traded up $1.13 during mid-day trading on Friday, hitting $98.46. The stock had a trading volume of 3,487,600 shares, compared to its average volume of 1,007,577. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.47. The firm has a market cap of $13,480.00, a P/E ratio of 16.73, a P/E/G ratio of 1.95 and a beta of 0.59. Quest Diagnostics Inc has a one year low of $86.89 and a one year high of $112.96.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. analysts predict that Quest Diagnostics Inc will post 5.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.50%.
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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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