Symons Capital Management Inc. lessened its position in Quest Diagnostics Inc (NYSE:DGX) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,128 shares of the medical research company’s stock after selling 5,461 shares during the quarter. Quest Diagnostics accounts for approximately 2.7% of Symons Capital Management Inc.’s portfolio, making the stock its 16th largest holding. Symons Capital Management Inc.’s holdings in Quest Diagnostics were worth $5,793,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DGX. D L Carlson Investment Group Inc. bought a new position in shares of Quest Diagnostics during the third quarter valued at about $2,609,000. Alps Advisors Inc. bought a new position in shares of Quest Diagnostics during the third quarter valued at about $368,000. Daiwa Securities Group Inc. grew its stake in shares of Quest Diagnostics by 2.2% during the third quarter. Daiwa Securities Group Inc. now owns 5,389 shares of the medical research company’s stock valued at $577,000 after buying an additional 116 shares during the last quarter. Mackay Shields LLC grew its stake in shares of Quest Diagnostics by 9.6% during the third quarter. Mackay Shields LLC now owns 22,310 shares of the medical research company’s stock valued at $2,388,000 after buying an additional 1,947 shares during the last quarter. Finally, Girard Partners LTD. grew its stake in shares of Quest Diagnostics by 2.8% during the third quarter. Girard Partners LTD. now owns 25,996 shares of the medical research company’s stock valued at $2,782,000 after buying an additional 703 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE DGX traded down $0.04 during trading hours on Friday, hitting $101.57. The company’s stock had a trading volume of 759,367 shares, compared to its average volume of 1,080,903. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 0.88. Quest Diagnostics Inc has a 12 month low of $78.95 and a 12 month high of $107.97. The business has a 50-day simple moving average of $103.53 and a 200-day simple moving average of $101.01. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 2.12 and a beta of 0.85.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.05. Quest Diagnostics had a net margin of 9.58% and a return on equity of 15.32%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business posted $1.68 earnings per share. Quest Diagnostics’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Quest Diagnostics Inc will post 6.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were issued a $0.53 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $2.12 annualized dividend and a yield of 2.09%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 33.60%.
In other Quest Diagnostics news, CAO Michael J. Deppe sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total value of $530,000.00. Following the completion of the sale, the chief accounting officer now directly owns 28,671 shares in the company, valued at $3,039,126. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.86% of the company’s stock.
A number of research analysts have recently issued reports on DGX shares. JPMorgan Chase & Co. raised their price objective on Quest Diagnostics from $100.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. UBS Group cut their target price on Quest Diagnostics from $103.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Evercore ISI reissued a “buy” rating and issued a $108.00 target price on shares of Quest Diagnostics in a research note on Thursday, August 8th. Canaccord Genuity reissued a “buy” rating and issued a $113.00 target price on shares of Quest Diagnostics in a research note on Wednesday, October 23rd. Finally, Goldman Sachs Group cut Quest Diagnostics from a “neutral” rating to a “sell” rating and cut their target price for the stock from $90.00 to $85.00 in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $105.27.
Quest Diagnostics Profile
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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