Public Employees Retirement System of Ohio grew its stake in Quest Diagnostics Inc (NYSE:DGX) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,189 shares of the medical research company’s stock after buying an additional 3,922 shares during the period. Public Employees Retirement System of Ohio’s holdings in Quest Diagnostics were worth $4,679,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc lifted its position in shares of Quest Diagnostics by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 14,500,290 shares of the medical research company’s stock worth $1,564,725,000 after purchasing an additional 201,951 shares during the last quarter. Macquarie Group Ltd. increased its stake in Quest Diagnostics by 14.9% during the fourth quarter. Macquarie Group Ltd. now owns 7,708,550 shares of the medical research company’s stock valued at $641,888,000 after acquiring an additional 1,000,318 shares during the period. Victory Capital Management Inc. increased its stake in Quest Diagnostics by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,811,037 shares of the medical research company’s stock valued at $234,075,000 after acquiring an additional 135,312 shares during the period. Geode Capital Management LLC increased its stake in Quest Diagnostics by 11.8% during the fourth quarter. Geode Capital Management LLC now owns 2,145,984 shares of the medical research company’s stock valued at $178,437,000 after acquiring an additional 225,712 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Quest Diagnostics by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,361 shares of the medical research company’s stock valued at $165,058,000 after acquiring an additional 9,047 shares during the period. 90.49% of the stock is owned by institutional investors.
NYSE:DGX opened at $90.57 on Thursday. Quest Diagnostics Inc has a 52-week low of $78.95 and a 52-week high of $116.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 0.94. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.13 and a beta of 0.90.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, February 14th. The medical research company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). Quest Diagnostics had a return on equity of 15.23% and a net margin of 9.77%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company posted $1.40 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Quest Diagnostics Inc will post 6.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is 33.60%.
Several equities analysts recently issued reports on the company. Wolfe Research assumed coverage on Quest Diagnostics in a research note on Tuesday. They set an “underperform” rating on the stock. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and boosted their price target for the company from $93.00 to $107.00 in a research note on Tuesday. Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Credit Suisse Group lowered Quest Diagnostics from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $101.00 to $91.00 in a research note on Monday, March 18th. Finally, Mizuho set a $106.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research note on Friday, February 15th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Quest Diagnostics currently has an average rating of “Hold” and a consensus target price of $102.50.
In other news, SVP Michael E. Prevoznik sold 336 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $88.23, for a total value of $29,645.28. Following the transaction, the senior vice president now owns 42,108 shares of the company’s stock, valued at approximately $3,715,188.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gail R. Wilensky sold 8,000 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $87.78, for a total value of $702,240.00. Following the completion of the transaction, the director now directly owns 34,604 shares in the company, valued at approximately $3,037,539.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,724 shares of company stock worth $1,199,363. Company insiders own 1.79% of the company’s stock.
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Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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