Cibc World Markets Corp increased its position in Quest Diagnostics Inc (NYSE:DGX) by 33.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,148 shares of the medical research company’s stock after buying an additional 3,290 shares during the period. Cibc World Markets Corp’s holdings in Quest Diagnostics were worth $1,498,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of DGX. Ellevest Inc. raised its stake in shares of Quest Diagnostics by 16.6% during the 2nd quarter. Ellevest Inc. now owns 618 shares of the medical research company’s stock worth $70,000 after purchasing an additional 88 shares during the period. River Wealth Advisors LLC increased its position in shares of Quest Diagnostics by 2.9% during the 1st quarter. River Wealth Advisors LLC now owns 3,859 shares of the medical research company’s stock valued at $310,000 after purchasing an additional 110 shares during the last quarter. Sigma Planning Corp lifted its stake in Quest Diagnostics by 3.3% in the second quarter. Sigma Planning Corp now owns 3,591 shares of the medical research company’s stock worth $409,000 after purchasing an additional 116 shares during the last quarter. BKD Wealth Advisors LLC boosted its stake in shares of Quest Diagnostics by 4.6% during the second quarter. BKD Wealth Advisors LLC now owns 2,644 shares of the medical research company’s stock valued at $301,000 after purchasing an additional 117 shares during the period. Finally, We Are One Seven LLC grew its stake in shares of Quest Diagnostics by 1.5% in the second quarter. We Are One Seven LLC now owns 8,787 shares of the medical research company’s stock worth $1,001,000 after purchasing an additional 128 shares during the last quarter. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
DGX has been the topic of several analyst reports. Bank of America upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Tuesday, July 14th. Zacks Investment Research cut Quest Diagnostics from a “strong-buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Tuesday, July 28th. Deutsche Bank boosted their target price on Quest Diagnostics from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Credit Suisse Group boosted their target price on shares of Quest Diagnostics from $126.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley upped their price target on shares of Quest Diagnostics from $139.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $125.78.
DGX opened at $109.65 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. Quest Diagnostics Inc has a 12-month low of $73.02 and a 12-month high of $131.81. The stock has a fifty day moving average of $121.98 and a 200-day moving average of $109.15. The firm has a market capitalization of $14.94 billion, a P/E ratio of 19.90, a PEG ratio of 0.84 and a beta of 1.28.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, July 23rd. The medical research company reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.01. Quest Diagnostics had a net margin of 9.99% and a return on equity of 13.78%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts expect that Quest Diagnostics Inc will post 8.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, October 5th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.15%.
About Quest Diagnostics
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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