Exchange Traded Concepts LLC boosted its position in Quest Diagnostics Inc (NYSE:DGX) by 6,231.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,849 shares of the medical research company’s stock after purchasing an additional 2,804 shares during the period. Exchange Traded Concepts LLC’s holdings in Quest Diagnostics were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Orion Portfolio Solutions LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $27,000. Procyon Private Wealth Partners LLC acquired a new stake in Quest Diagnostics in the fourth quarter valued at $29,000. Valeo Financial Advisors LLC purchased a new stake in shares of Quest Diagnostics during the 1st quarter worth $30,000. Wealthcare Advisory Partners LLC grew its stake in shares of Quest Diagnostics by 81.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 342 shares of the medical research company’s stock worth $27,000 after purchasing an additional 153 shares during the period. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Quest Diagnostics by 329.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 374 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 287 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:DGX opened at $125.11 on Friday. The business’s 50-day simple moving average is $114.93 and its 200 day simple moving average is $105.96. The company has a market cap of $16.54 billion, a P/E ratio of 20.27, a PEG ratio of 1.47 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.27 and a current ratio of 1.38. Quest Diagnostics Inc has a one year low of $73.02 and a one year high of $126.88.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Quest Diagnostics had a net margin of 10.36% and a return on equity of 14.79%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts predict that Quest Diagnostics Inc will post 6.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, July 7th. Quest Diagnostics’s dividend payout ratio (DPR) is 34.15%.
A number of equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a research report on Tuesday. Cfra cut Quest Diagnostics from a “strong-buy” rating to a “hold” rating and reduced their price objective for the stock from $140.00 to $106.00 in a report on Wednesday, April 22nd. Mizuho lowered their target price on Quest Diagnostics from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Wolfe Research upgraded Quest Diagnostics from an “underperform” rating to a “market perform” rating and set a $116.00 price target for the company in a research report on Monday, April 27th. Finally, Wells Fargo & Co raised Quest Diagnostics from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $90.00 to $120.00 in a research note on Tuesday, June 9th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $120.00.
In other Quest Diagnostics news, SVP Manner Carrie Eglinton sold 5,000 shares of Quest Diagnostics stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $111.02, for a total transaction of $555,100.00. Following the sale, the senior vice president now directly owns 24,890 shares in the company, valued at approximately $2,763,287.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen H. Rusckowski sold 11,717 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $112.01, for a total value of $1,312,421.17. Following the completion of the transaction, the chief executive officer now directly owns 249,464 shares in the company, valued at $27,942,462.64. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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