Signet Financial Management LLC Has $8.06 Million Holdings in Quest Diagnostics Incorporated (DGX)
Signet Financial Management LLC grew its position in Quest Diagnostics Incorporated (NYSE:DGX) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,531 shares of the medical research company’s stock after purchasing an additional 210 shares during the quarter. Quest Diagnostics makes up about 1.7% of Signet Financial Management LLC’s investment portfolio, making the stock its 11th largest holding. Signet Financial Management LLC owned approximately 0.05% of Quest Diagnostics worth $8,063,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of DGX. Sun Life Financial INC increased its stake 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 in the last quarter. Parallel Advisors LLC raised its position in shares of Quest Diagnostics by 16.1% during the 1st quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 177 shares during the period. Acrospire Investment Management LLC raised its position in shares of Quest Diagnostics by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after purchasing an additional 1,200 shares during the period. Financial Architects Inc raised its position in shares of Quest Diagnostics by 5.6% during the 2nd quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after purchasing an additional 88 shares during the period. Finally, Wagner Bowman Management Corp bought a new stake in shares of Quest Diagnostics during the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 87.10% of the company’s stock.
Quest Diagnostics Incorporated (NYSE DGX) traded up 0.29% on Wednesday, hitting $93.16. 556,827 shares of the company were exchanged. The stock’s 50-day moving average price is $103.46 and its 200-day moving average price is $105.22. The stock has a market capitalization of $12.71 billion, a P/E ratio of 18.77 and a beta of 0.65. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm posted $1.34 EPS. Quest Diagnostics’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post $5.67 earnings per share for the current fiscal year.
The company 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 dividend of $0.45 per share. The ex-dividend date is Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. Quest Diagnostics’s payout ratio is currently 36.29%.
In other news, CEO Stephen H. Rusckowski sold 53,933 shares of Quest Diagnostics stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $108.16, for a total value of $5,833,393.28. Following the sale, the chief executive officer now directly owns 220,049 shares of the company’s stock, valued at $23,800,499.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey M. Leiden sold 296 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at $639,960. The disclosure for this sale can be found here. Insiders have sold 161,996 shares of company stock valued at $17,517,207 in the last three months. Insiders own 1.75% of the company’s stock.
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A number of brokerages have issued reports on DGX. UBS AG increased their price target on Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, July 6th. BidaskClub raised Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Zacks Investment Research downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Morgan Stanley boosted 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $110.41.
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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