Vident Investment Advisory LLC Grows Holdings in Quest Diagnostics Inc (DGX)

Vident Investment Advisory LLC raised its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,777 shares of the medical research company’s stock after purchasing an additional 1,418 shares during the period. Vident Investment Advisory LLC’s holdings in Quest Diagnostics were worth $2,695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in shares of Quest Diagnostics by 6.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 8,726 shares of the medical research company’s stock valued at $970,000 after buying an additional 499 shares in the last quarter. IFP Advisors Inc raised its position in shares of Quest Diagnostics by 12.0% during the 2nd quarter. IFP Advisors Inc now owns 3,287 shares of the medical research company’s stock valued at $365,000 after buying an additional 351 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Quest Diagnostics during the 2nd quarter valued at about $300,000. Schwab Charles Investment Management Inc. raised its position in shares of Quest Diagnostics by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock valued at $54,171,000 after buying an additional 18,968 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Quest Diagnostics by 3.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 31,863 shares of the medical research company’s stock valued at $3,542,000 after buying an additional 1,200 shares in the last quarter. 89.20% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on DGX. Zacks Investment Research cut shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Mizuho set a $103.00 target price on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Thursday, October 19th. Canaccord Genuity upped their target price on shares of Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. SunTrust Banks set a $105.00 target price on shares of Quest Diagnostics and gave the company a “hold” rating in a research report on Sunday, October 15th. Finally, Citigroup decreased their target price on shares of Quest Diagnostics from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. One investment 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 a consensus rating of “Hold” and an average price target of $106.28.

Shares of Quest Diagnostics Inc (DGX) opened at $97.10 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37. Quest Diagnostics Inc has a 1 year low of $90.10 and a 1 year high of $112.96. The firm has a market cap of $13,230.58, a PE ratio of 17.40, a P/E/G ratio of 2.02 and a beta of 0.60.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. equities research analysts predict that Quest Diagnostics Inc will post 5.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.74%.

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Quest Diagnostics 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).

Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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