Wrapmanager Inc. Purchases Shares of 2,578 Quest Diagnostics Inc (NYSE:DGX)

Wrapmanager Inc. purchased a new stake in shares of Quest Diagnostics Inc (NYSE:DGX) during the first quarter, Holdings Channel reports. The firm purchased 2,578 shares of the medical research company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Quest Diagnostics by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 4,029,489 shares of the medical research company’s stock valued at $430,308,000 after buying an additional 212,706 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Quest Diagnostics by 558.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 929 shares of the medical research company’s stock valued at $99,000 after buying an additional 788 shares in the last quarter. Advisor Group Inc. raised its position in shares of Quest Diagnostics by 7.2% during the 4th quarter. Advisor Group Inc. now owns 9,326 shares of the medical research company’s stock valued at $996,000 after buying an additional 629 shares in the last quarter. AlphaCrest Capital Management LLC raised its position in shares of Quest Diagnostics by 52.1% during the 4th quarter. AlphaCrest Capital Management LLC now owns 14,674 shares of the medical research company’s stock valued at $1,567,000 after buying an additional 5,026 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Quest Diagnostics by 56.7% during the 4th quarter. AQR Capital Management LLC now owns 298,104 shares of the medical research company’s stock valued at $31,712,000 after buying an additional 107,921 shares in the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

A number of research firms recently weighed in on DGX. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $107.00 price objective on the stock in a research report on Monday, March 16th. Barclays increased their price objective on shares of Quest Diagnostics from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Robert W. Baird increased their price objective on shares of Quest Diagnostics from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Mizuho reduced their price objective on shares of Quest Diagnostics from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Finally, Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $130.00 in a research report on Monday, April 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Quest Diagnostics currently has a consensus rating of “Hold” and an average target price of $111.28.

In other Quest Diagnostics news, CEO Stephen H. Rusckowski sold 230,178 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $112.67, for a total value of $25,934,155.26. Following the completion of the transaction, the chief executive officer now owns 456,738 shares of the company’s stock, valued at $51,460,670.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen H. Rusckowski sold 11,717 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $112.01, for a total transaction of $1,312,421.17. Following the completion of the transaction, the chief executive officer now directly owns 249,464 shares of the company’s stock, valued at approximately $27,942,462.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,476 shares of company stock valued at $28,656,119. Corporate insiders own 1.49% of the company’s stock.

NYSE:DGX opened at $112.83 on Friday. Quest Diagnostics Inc has a 52 week low of $73.02 and a 52 week high of $125.00. The firm has a 50 day moving average of $99.72 and a 200 day moving average of $103.30. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 3.23 and a beta of 1.39.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Wednesday, April 22nd. The medical research company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.06. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Quest Diagnostics had a net margin of 10.36% and a return on equity of 14.79%. Quest Diagnostics’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 earnings per share. As a group, analysts expect that Quest Diagnostics Inc will post 4.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.99%. Quest Diagnostics’s dividend payout ratio is currently 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.

Further Reading: Total Return

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Inc (NYSE:DGX).

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

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.