Oregon Public Employees Retirement Fund held its stake in Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,482 shares of the medical research company’s stock at the end of the second quarter. Oregon Public Employees Retirement Fund’s holdings in Quest Diagnostics were worth $3,722,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its stake in Quest Diagnostics by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 45,053 shares of the medical research company’s stock worth $4,423,000 after buying an additional 625 shares during the period. Creative Planning boosted its stake in Quest Diagnostics by 30.8% in the first quarter. Creative Planning now owns 4,159 shares of the medical research company’s stock worth $408,000 after buying an additional 980 shares during the period. Contravisory Investment Management Inc. boosted its stake in Quest Diagnostics by 628.7% in the first quarter. Contravisory Investment Management Inc. now owns 2,718 shares of the medical research company’s stock worth $267,000 after buying an additional 2,345 shares during the period. Acropolis Investment Management LLC boosted its stake in Quest Diagnostics by 3.5% in the first quarter. Acropolis Investment Management LLC now owns 8,025 shares of the medical research company’s stock worth $788,000 after buying an additional 275 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in Quest Diagnostics by 2.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 118,823 shares of the medical research company’s stock worth $11,667,000 after buying an additional 2,668 shares during the period. 90.65% of the stock is currently owned by institutional investors and hedge funds.
Quest Diagnostics Incorporated (DGX) opened at 109.39 on Friday. Quest Diagnostics Incorporated has a 1-year low of $79.12 and a 1-year high of $112.97. The firm has a market cap of $14.97 billion, a PE ratio of 22.02 and a beta of 0.70. The firm’s 50-day moving average is $109.21 and its 200 day moving average is $101.41.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, April 20th. The medical research company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.15. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a net margin of 9.34% and a return on equity of 15.22%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. On average, equities analysts forecast that Quest Diagnostics Incorporated will post $5.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 24th. Investors of record on Monday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.80 annualized dividend and a yield of 1.65%. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. UBS AG increased their price objective on shares of Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 6th. Mizuho increased their price objective on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, June 5th. ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $110.00 price objective on shares of Quest Diagnostics in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Quest Diagnostics has a consensus rating of “Buy” and an average price target of $110.50.
In related news, SVP Catherine T. Doherty sold 59,762 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the transaction, the senior vice president now owns 78,582 shares in the company, valued at approximately $8,451,494.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jenne K. Britell sold 6,111 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $104.03, for a total transaction of $635,727.33. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
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).
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX).
Receive News & Ratings for Quest Diagnostics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
