Mirae Asset Global Investments Co. Ltd. Increases Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Mirae Asset Global Investments Co. Ltd. grew its position in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,245 shares of the medical research company’s stock after acquiring an additional 10,467 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of Quest Diagnostics worth $8,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. HM Payson & Co. lifted its stake in shares of Quest Diagnostics by 0.7% during the fourth quarter. HM Payson & Co. now owns 13,838 shares of the medical research company’s stock worth $2,394,000 after buying an additional 100 shares during the period. Williams Jones Wealth Management LLC. lifted its position in Quest Diagnostics by 2.0% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 5,288 shares of the medical research company’s stock valued at $915,000 after purchasing an additional 102 shares during the period. Personal CFO Solutions LLC lifted its position in Quest Diagnostics by 1.6% during the first quarter. Personal CFO Solutions LLC now owns 6,382 shares of the medical research company’s stock valued at $873,000 after purchasing an additional 103 shares during the period. ICW Investment Advisors LLC lifted its position in Quest Diagnostics by 1.1% during the first quarter. ICW Investment Advisors LLC now owns 10,162 shares of the medical research company’s stock valued at $1,391,000 after purchasing an additional 111 shares during the period. Finally, Freestone Capital Holdings LLC lifted its position in Quest Diagnostics by 6.4% during the fourth quarter. Freestone Capital Holdings LLC now owns 2,025 shares of the medical research company’s stock valued at $350,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 88.87% of the company’s stock.

Insider Transactions at Quest Diagnostics

In other news, Director Timothy M. Ring sold 2,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $136.04, for a total transaction of $272,080.00. Following the completion of the sale, the director now owns 23,933 shares of the company’s stock, valued at $3,255,845.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DGX. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. Morgan Stanley restated an “equal weight” rating and set a $142.00 target price on shares of Quest Diagnostics in a research report on Monday, August 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $148.50.

Quest Diagnostics Trading Down 1.0 %

Shares of Quest Diagnostics stock opened at $124.34 on Wednesday. The firm has a 50-day simple moving average of $132.42 and a two-hundred day simple moving average of $135.53. The company has a market cap of $14.50 billion, a P/E ratio of 10.34 and a beta of 1.01. Quest Diagnostics Incorporated has a fifty-two week low of $122.63 and a fifty-two week high of $174.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.54.

Quest Diagnostics (NYSE:DGXGet Rating) last released its earnings results on Thursday, July 21st. The medical research company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Quest Diagnostics had a net margin of 14.02% and a return on equity of 24.62%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.18 earnings per share. As a group, equities analysts predict that Quest Diagnostics Incorporated will post 9.68 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Tuesday, October 4th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.12%. Quest Diagnostics’s dividend payout ratio is currently 21.96%.

About Quest Diagnostics

(Get Rating)

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.

See Also

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

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.