Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decreased its position in Quest Diagnostics Inc. (NYSE:DGX) by 22.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,520 shares of the company’s stock after selling 11,470 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Quest Diagnostics were worth $3,345,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Quest Diagnostics by 1.8% in the second quarter. Vanguard Group Inc. now owns 12,912,806 shares of the company’s stock worth $1,051,231,000 after buying an additional 233,179 shares during the period. American Century Companies Inc. increased its stake in shares of Quest Diagnostics by 27.7% in the second quarter. American Century Companies Inc. now owns 4,717,816 shares of the company’s stock valued at $384,077,000 after buying an additional 1,022,240 shares during the period. BlackRock Advisors LLC increased its stake in shares of Quest Diagnostics by 2.0% in the second quarter. BlackRock Advisors LLC now owns 3,586,238 shares of the company’s stock valued at $291,956,000 after buying an additional 68,928 shares during the period. LSV Asset Management increased its stake in shares of Quest Diagnostics by 1.3% in the second quarter. LSV Asset Management now owns 3,532,644 shares of the company’s stock valued at $287,592,000 after buying an additional 44,719 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Quest Diagnostics by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,060,059 shares of the company’s stock valued at $249,119,000 after buying an additional 132,250 shares during the period. 90.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Quest Diagnostics Inc. (NYSE:DGX) traded up 0.57% during trading on Friday, reaching $88.32. The company’s stock had a trading volume of 531,249 shares. The firm’s 50-day moving average price is $83.41 and its 200-day moving average price is $82.13. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 18.74 and a beta of 0.62. Quest Diagnostics Inc. has a one year low of $59.66 and a one year high of $88.34.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Quest Diagnostics had a net margin of 9.01% and a return on equity of 14.57%. The firm earned $1.89 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts anticipate that Quest Diagnostics Inc. will post $5.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Tuesday, January 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.40. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.04%.
Several analysts have recently commented on DGX shares. Citigroup Inc. started coverage on Quest Diagnostics in a research note on Friday, September 9th. They issued a “neutral” rating and a $86.00 price objective for the company. Mizuho downgraded Quest Diagnostics from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $84.00 to $86.00 in a research note on Wednesday, August 31st. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Wednesday, September 21st. Canaccord Genuity set a $90.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a research note on Monday, November 14th. Finally, Bank of America Corp. reissued a “sell” rating and issued a $78.00 price objective on shares of Quest Diagnostics in a research note on Monday, November 14th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $83.14.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.