Dynamic Technology Lab Private Ltd Invests $1.53 Million in Quest Diagnostics Inc (DGX) Stock

Dynamic Technology Lab Private Ltd bought a new stake in shares of Quest Diagnostics Inc (NYSE:DGX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,202 shares of the medical research company’s stock, valued at approximately $1,532,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dupont Capital Management Corp raised its position in shares of Quest Diagnostics by 64.4% in the second quarter. Dupont Capital Management Corp now owns 1,202 shares of the medical research company’s stock worth $132,000 after acquiring an additional 471 shares during the period. CIBC World Markets Inc. raised its position in shares of Quest Diagnostics by 3.7% in the third quarter. CIBC World Markets Inc. now owns 14,582 shares of the medical research company’s stock worth $1,574,000 after acquiring an additional 522 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Quest Diagnostics by 1.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,739 shares of the medical research company’s stock worth $4,072,000 after acquiring an additional 623 shares during the period. Acropolis Investment Management LLC raised its position in shares of Quest Diagnostics by 19.2% in the third quarter. Acropolis Investment Management LLC now owns 4,225 shares of the medical research company’s stock worth $456,000 after acquiring an additional 680 shares during the period. Finally, ING Groep NV raised its position in shares of Quest Diagnostics by 4.9% in the second quarter. ING Groep NV now owns 14,542 shares of the medical research company’s stock worth $1,599,000 after acquiring an additional 683 shares during the period. Institutional investors own 86.26% of the company’s stock.

DGX opened at $87.56 on Friday. Quest Diagnostics Inc has a twelve month low of $85.56 and a twelve month high of $116.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.09. The stock has a market cap of $12.09 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.86 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, hitting the consensus estimate of $1.68. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that Quest Diagnostics Inc will post 6.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Tuesday, January 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, January 14th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.50. Quest Diagnostics’s dividend payout ratio is 37.04%.

DGX has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on shares of Quest Diagnostics from $120.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, November 30th. Credit Suisse Group reiterated a “buy” rating and issued a $121.00 price objective on shares of Quest Diagnostics in a research report on Sunday, December 2nd. Bank of America initiated coverage on shares of Quest Diagnostics in a research report on Friday, October 19th. They issued a “buy” rating for the company. SunTrust Banks decreased their price objective on shares of Quest Diagnostics to $96.00 and set a “positive” rating for the company in a research report on Monday, December 3rd. Finally, Argus set a $106.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $106.19.

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

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