Riverhead Capital Management LLC boosted its position in Quest Diagnostics Inc (NYSE:DGX) by 37.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,355 shares of the medical research company’s stock after purchasing an additional 14,100 shares during the period. Riverhead Capital Management LLC’s holdings in Quest Diagnostics were worth $4,618,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Parametric Portfolio Associates LLC lifted its stake in Quest Diagnostics by 24.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 629,689 shares of the medical research company’s stock worth $56,622,000 after purchasing an additional 125,051 shares in the last quarter. Norinchukin Bank The lifted its stake in Quest Diagnostics by 2.4% in the 1st quarter. Norinchukin Bank The now owns 26,491 shares of the medical research company’s stock worth $2,382,000 after purchasing an additional 632 shares in the last quarter. CenturyLink Investment Management Co lifted its stake in Quest Diagnostics by 12.9% in the 1st quarter. CenturyLink Investment Management Co now owns 14,519 shares of the medical research company’s stock worth $1,306,000 after purchasing an additional 1,658 shares in the last quarter. Polaris Capital Management LLC lifted its stake in Quest Diagnostics by 2.1% in the 4th quarter. Polaris Capital Management LLC now owns 436,479 shares of the medical research company’s stock worth $36,346,000 after purchasing an additional 9,100 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its stake in Quest Diagnostics by 11.7% in the 4th quarter. Suntrust Banks Inc. now owns 4,337 shares of the medical research company’s stock worth $361,000 after purchasing an additional 456 shares in the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
NYSE:DGX traded up $0.31 during mid-day trading on Friday, hitting $101.17. 95,784 shares of the stock traded hands, compared to its average volume of 884,441. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.29 and a beta of 0.85. Quest Diagnostics Inc has a 52 week low of $78.95 and a 52 week high of $116.49. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.36 by $0.04. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a net margin of 9.59% and a return on equity of 14.99%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $152.00 EPS. As a group, equities analysts forecast that Quest Diagnostics Inc will post 6.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, July 5th. This represents a $2.12 annualized dividend and a yield of 2.10%. Quest Diagnostics’s payout ratio is 33.60%.
DGX has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Quest Diagnostics from $98.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Canaccord Genuity restated a “buy” rating and set a $97.00 target price on shares of Quest Diagnostics in a research report on Monday, February 18th. Wolfe Research initiated coverage on shares of Quest Diagnostics in a research report on Tuesday, April 2nd. They set an “underperform” rating on the stock. Mizuho set a $106.00 target price on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Barclays restated a “buy” rating and set a $114.00 target price on shares of Quest Diagnostics in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. Quest Diagnostics currently has an average rating of “Hold” and a consensus price target of $102.12.
In other Quest Diagnostics news, EVP J. E. Davis sold 8,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $90.29, for a total value of $722,320.00. Following the transaction, the executive vice president now directly owns 38,634 shares in the company, valued at approximately $3,488,263.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Catherine T. Doherty sold 66,382 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $90.59, for a total transaction of $6,013,545.38. Following the completion of the transaction, the senior vice president now owns 133,908 shares in the company, valued at $12,130,725.72. The disclosure for this sale can be found here. Insiders have sold a total of 121,956 shares of company stock worth $11,255,395 over the last quarter. 1.86% of the stock is currently owned by insiders.
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Quest Diagnostics 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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