State of New Jersey Common Pension Fund D maintained its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent filing with the SEC. The firm owned 15,000 shares of the medical research company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Quest Diagnostics were worth $1,667,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Teachers Advisors LLC boosted its position in shares of Quest Diagnostics by 6.6% in the fourth quarter. Teachers Advisors LLC now owns 177,243 shares of the medical research company’s stock worth $16,289,000 after buying an additional 11,003 shares during the period. Creative Planning boosted its position in shares of 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. Gateway Investment Advisers LLC boosted its position in shares of Quest Diagnostics by 4.5% in the first quarter. Gateway Investment Advisers LLC now owns 145,721 shares of the medical research company’s stock worth $14,308,000 after buying an additional 6,316 shares during the period. DnB Asset Management AS boosted its position in shares of Quest Diagnostics by 20.2% in the first quarter. DnB Asset Management AS now owns 16,036 shares of the medical research company’s stock worth $1,575,000 after buying an additional 2,700 shares during the period. Finally, Boston Advisors LLC boosted its position in shares of Quest Diagnostics by 68.9% in the first quarter. Boston Advisors LLC now owns 123,484 shares of the medical research company’s stock worth $12,125,000 after buying an additional 50,363 shares during the period. 90.06% of the stock is currently owned by institutional investors and hedge funds.
Quest Diagnostics Incorporated (NYSE:DGX) opened at 104.87 on Friday. The company’s 50-day moving average is $108.23 and its 200 day moving average is $103.54. The stock has a market capitalization of $14.30 billion, a PE ratio of 21.13 and a beta of 0.69. Quest Diagnostics Incorporated has a 12-month low of $79.12 and a 12-month high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. Quest Diagnostics’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Quest Diagnostics Incorporated will post $5.69 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 given 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 yield of 1.72%. Quest Diagnostics’s payout ratio is 36.29%.
A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. UBS AG lifted their price target 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 lifted their price target 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 upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Barclays PLC reiterated a “hold” rating and set a $110.00 price target on shares of Quest Diagnostics in a report on Wednesday, July 19th. One 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 company’s stock. Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $109.62.
In other news, Director Jeffrey M. Leiden sold 296 shares of the company’s stock in a transaction 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 directly owns 6,000 shares in the company, valued at $639,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey M. Leiden sold 1,304 shares of the company’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 owns 6,296 shares in the company, valued at $684,564.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,362 shares of company stock worth $6,600,758. 1.50% of the stock is owned by company 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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