Trexquant Investment LP lowered its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 37.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,163 shares of the medical research company’s stock after selling 4,268 shares during the quarter. Trexquant Investment LP’s holdings in Quest Diagnostics were worth $820,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of DGX. Nuveen Asset Management LLC grew its holdings in Quest Diagnostics by 134.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,718,572 shares of the medical research company’s stock worth $195,849,000 after acquiring an additional 984,331 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Quest Diagnostics during the 2nd quarter worth about $65,242,000. Nordea Investment Management AB grew its holdings in Quest Diagnostics by 275.6% during the 2nd quarter. Nordea Investment Management AB now owns 618,806 shares of the medical research company’s stock worth $68,446,000 after acquiring an additional 454,048 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Quest Diagnostics by 72.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 967,288 shares of the medical research company’s stock valued at $109,711,000 after purchasing an additional 405,024 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in shares of Quest Diagnostics in the 2nd quarter valued at about $43,786,000. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Stephen H. Rusckowski sold 291,997 shares of the firm’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $120.00, for a total value of $35,039,640.00. Following the completion of the transaction, the chief executive officer now directly owns 529,744 shares of the company’s stock, valued at $63,569,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael J. Deppe sold 10,450 shares of the firm’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $125.00, for a total transaction of $1,306,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,785 shares of the company’s stock, valued at $3,723,125. The disclosure for this sale can be found here. Insiders sold 396,430 shares of company stock worth $47,039,374 over the last quarter. 1.49% of the stock is owned by corporate insiders.
Shares of DGX stock opened at $122.27 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.40. The company has a market capitalization of $16.48 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18. The company’s 50 day moving average price is $121.01 and its two-hundred day moving average price is $116.99. Quest Diagnostics Incorporated has a 52 week low of $73.02 and a 52 week high of $131.81.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 22nd. The medical research company reported $4.31 EPS for the quarter, topping the consensus estimate of $3.75 by $0.56. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.71 billion. Quest Diagnostics had a net margin of 13.22% and a return on equity of 19.23%. The business’s quarterly revenue was up 42.6% on a year-over-year basis. During the same period last year, the company posted $1.76 EPS. Analysts forecast that Quest Diagnostics Incorporated will post 9.99 earnings per share for the current year.
DGX has been the topic of several recent research reports. Wells Fargo & Company reaffirmed a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 23rd. Citigroup raised their target price on shares of Quest Diagnostics from $130.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Jefferies Financial Group raised their target price on shares of Quest Diagnostics from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating and set a $130.00 target price on the stock in a research note on Tuesday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Quest Diagnostics from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Quest Diagnostics presently has an average rating of “Hold” and an average target price of $126.83.
Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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