Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 17.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 19,732 shares of the medical research company’s stock after acquiring an additional 2,985 shares during the period. State of Alaska Department of Revenue’s holdings in Quest Diagnostics were worth $2,623,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Quest Diagnostics by 5.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,867 shares of the medical research company’s stock worth $1,624,000 after purchasing an additional 654 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Quest Diagnostics during the 1st quarter worth $524,000. Argent Trust Co boosted its position in shares of Quest Diagnostics by 1.4% during the 1st quarter. Argent Trust Co now owns 27,237 shares of the medical research company’s stock worth $3,728,000 after purchasing an additional 374 shares in the last quarter. Pinebridge Investments L.P. boosted its position in shares of Quest Diagnostics by 480.4% during the 1st quarter. Pinebridge Investments L.P. now owns 98,916 shares of the medical research company’s stock worth $13,538,000 after purchasing an additional 81,873 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Quest Diagnostics by 20.4% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 8,513 shares of the medical research company’s stock worth $1,165,000 after purchasing an additional 1,440 shares in the last quarter. 88.87% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Trading Up 0.9 %

Shares of DGX stock opened at $122.84 on Friday. The firm has a 50-day moving average price of $131.98 and a 200 day moving average price of $135.34. Quest Diagnostics Incorporated has a twelve month low of $120.40 and a twelve month high of $174.16. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 10.22 and a beta of 1.01. The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.

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

Quest Diagnostics Announces Dividend

The business also recently disclosed 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. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, October 3rd. Quest Diagnostics’s dividend payout ratio is currently 21.96%.

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 Friday, July 1st. The stock was sold at an average price of $133.47, for a total transaction of $266,940.00. Following the completion of the sale, the director now owns 23,933 shares in the company, valued at approximately $3,194,337.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DGX. 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. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Quest Diagnostics presently has a consensus rating of “Hold” and a consensus target price of $148.50.

About Quest Diagnostics

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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

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

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