First Citizens Bank & Trust Co. trimmed its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,611 shares of the medical research company’s stock after selling 3,009 shares during the period. First Citizens Bank & Trust Co.’s holdings in Quest Diagnostics were worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. APG Asset Management N.V. raised its stake in Quest Diagnostics by 156.0% during the third 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 period. Janus Henderson Group PLC increased its stake in shares of Quest Diagnostics by 9,350.4% in the second quarter. Janus Henderson Group PLC now owns 1,451,774 shares of the medical research company’s stock valued at $161,379,000 after purchasing an additional 1,436,412 shares during the period. Vanguard Group Inc. increased its stake in shares of Quest Diagnostics by 3.9% in the second quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock valued at $1,559,500,000 after purchasing an additional 525,200 shares during the period. FMR LLC increased its stake in shares of Quest Diagnostics by 62.2% in the second quarter. FMR LLC now owns 1,232,272 shares of the medical research company’s stock valued at $136,978,000 after purchasing an additional 472,661 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Quest Diagnostics by 21.7% in the third quarter. Victory Capital Management Inc. now owns 1,926,757 shares of the medical research company’s stock valued at $180,422,000 after purchasing an additional 343,399 shares during the period. 88.92% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on DGX shares. Mizuho set a $103.00 price objective on shares of Quest Diagnostics and gave the company a “buy” rating in a report on Thursday, October 19th. Goldman Sachs Group lowered shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $121.00 to $113.00 in a research note on Tuesday, October 10th. Canaccord Genuity raised their price objective on shares of Quest Diagnostics from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Quest Diagnostics in a research report on Friday, October 27th. Finally, ValuEngine downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $106.45.
Quest Diagnostics Inc (DGX) opened at $101.49 on Thursday. Quest Diagnostics Inc has a 12 month low of $90.10 and a 12 month high of $112.96. The firm has a market cap of $13,796.22, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.60. 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 (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, topping the Zacks’ consensus estimate of $1.35 by $0.04. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. Quest Diagnostics’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. sell-side analysts anticipate that Quest Diagnostics Inc will post 5.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio is currently 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).
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