IFG Advisory LLC boosted its stake in Quest Diagnostics Inc (NYSE:DGX) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,128 shares of the medical research company’s stock after purchasing an additional 274 shares during the period. IFG Advisory LLC’s holdings in Quest Diagnostics were worth $371,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new stake in Quest Diagnostics in the first quarter valued at $42,000. Benjamin F. Edwards & Company Inc. increased its holdings in Quest Diagnostics by 32.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 134 shares during the period. Stevens First Principles Investment Advisors acquired a new stake in Quest Diagnostics in the first quarter valued at $51,000. Doyle Wealth Management acquired a new stake in Quest Diagnostics in the fourth quarter valued at $48,000. Finally, First Personal Financial Services boosted its position in Quest Diagnostics by 57.1% during the first quarter. First Personal Financial Services now owns 655 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.
DGX stock opened at $98.04 on Friday. The stock has a market cap of $13.17 billion, a PE ratio of 15.54, a P/E/G ratio of 2.25 and a beta of 0.92. 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 Inc has a 1 year low of $78.95 and a 1 year high of $116.49.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.04. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Quest Diagnostics had a net margin of 9.59% and a return on equity of 14.99%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $152.00 EPS. As a group, sell-side analysts expect that Quest Diagnostics Inc will post 6.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be given a dividend of $0.53 per share. The ex-dividend date is Friday, July 5th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.16%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 33.60%.
In other news, SVP Everett Cunningham sold 1,496 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $86.64, for a total transaction of $129,613.44. Following the transaction, the senior vice president now owns 39,755 shares of the company’s stock, valued at approximately $3,444,373.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 336 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $88.23, for a total transaction of $29,645.28. Following the transaction, the senior vice president now directly owns 42,108 shares in the company, valued at approximately $3,715,188.84. The disclosure for this sale can be found here. Insiders have sold a total of 127,680 shares of company stock worth $11,752,519 in the last three months. Insiders own 1.86% of the company’s stock.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 6th. Canaccord Genuity upped their price target on shares of Quest Diagnostics from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Argus cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Mizuho set a $110.00 price target on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Monday, May 20th. Finally, Piper Jaffray Companies cut their price target on shares of Quest Diagnostics from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $102.65.
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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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