Eads & Heald Investment Counsel bought a new stake in Quest Diagnostics Inc. (NYSE:DGX) during the second quarter, Holdings Channel reports. The fund bought 2,565 shares of the company’s stock, valued at approximately $209,000.
Several other hedge funds have also made changes to their positions in the company. Financial Architects Inc boosted its stake in shares of Quest Diagnostics by 6.4% in the second quarter. Financial Architects Inc now owns 1,476 shares of the company’s stock valued at $120,000 after buying an additional 89 shares during the last quarter. Citizens Financial Group Inc RI boosted its stake in shares of Quest Diagnostics by 1,610.2% in the first quarter. Citizens Financial Group Inc RI now owns 1,676 shares of the company’s stock valued at $119,000 after buying an additional 1,578 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Quest Diagnostics by 10.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,869 shares of the company’s stock valued at $152,000 after buying an additional 176 shares during the last quarter. Creative Planning boosted its stake in shares of Quest Diagnostics by 13.5% in the second quarter. Creative Planning now owns 1,972 shares of the company’s stock valued at $161,000 after buying an additional 234 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Quest Diagnostics by 3.9% in the first quarter. Lazard Asset Management LLC now owns 2,285 shares of the company’s stock valued at $163,000 after buying an additional 86 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.
Shares of Quest Diagnostics Inc. (NYSE:DGX) traded up 0.11% during midday trading on Friday, hitting $83.41. The company’s stock had a trading volume of 252,909 shares. Quest Diagnostics Inc. has a 1-year low of $59.66 and a 1-year high of $86.85. The company has a 50-day moving average price of $83.67 and a 200 day moving average price of $80.07. The company has a market cap of $11.60 billion, a P/E ratio of 14.55 and a beta of 0.70.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.91 billion. Quest Diagnostics had a return on equity of 14.41% and a net margin of 11.02%. Quest Diagnostics’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. On average, equities research analysts predict that Quest Diagnostics Inc. will post $5.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics’s dividend payout ratio is currently 28.02%.
Several brokerages have recently commented on DGX. Evercore ISI restated a “hold” rating and set a $89.50 target price (up previously from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Monday, July 11th. Canaccord Genuity set a $90.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, September 14th. Mizuho restated a “neutral” rating and set a $86.00 target price on shares of Quest Diagnostics in a report on Tuesday, September 13th. Finally, Jyske Bank cut Quest Diagnostics from a “neutral” rating to a “sell” rating in a report on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $82.45.
In other Quest Diagnostics news, Director Jenne K. Britell sold 4,000 shares of Quest Diagnostics stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $85.20, for a total transaction of $340,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John B. Ziegler sold 1,000 shares of Quest Diagnostics stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $84.36, for a total value of $84,360.00. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
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.