Mutual of America Capital Management LLC Acquires 128 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Mutual of America Capital Management LLC grew its position in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 16,040 shares of the medical research company’s stock after acquiring an additional 128 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Quest Diagnostics were worth $2,133,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DGX. BlackRock Inc. boosted its stake in Quest Diagnostics by 10.1% in the 1st quarter. BlackRock Inc. now owns 12,807,624 shares of the medical research company’s stock worth $1,752,852,000 after purchasing an additional 1,171,242 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Quest Diagnostics by 33.7% during the 1st quarter. American Century Companies Inc. now owns 2,634,641 shares of the medical research company’s stock valued at $360,577,000 after purchasing an additional 664,574 shares in the last quarter. Vanguard Group Inc. grew its stake in Quest Diagnostics by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after acquiring an additional 636,301 shares during the period. Bank of America Corp DE boosted its stake in Quest Diagnostics by 12.4% during the 1st quarter. Bank of America Corp DE now owns 3,628,272 shares of the medical research company’s stock worth $496,566,000 after purchasing an additional 398,924 shares during the last quarter. Finally, Tobam boosted its stake in Quest Diagnostics by 226.2% during the 2nd quarter. Tobam now owns 259,352 shares of the medical research company’s stock worth $34,489,000 after purchasing an additional 179,847 shares during the last quarter. 88.87% of the stock is currently owned by institutional investors.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $148.46 on Thursday. The stock has a market capitalization of $16.91 billion, a P/E ratio of 14.60 and a beta of 1.02. Quest Diagnostics Incorporated has a 12-month low of $120.40 and a 12-month high of $174.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.46 and a quick ratio of 1.34. The firm’s 50-day moving average is $134.89 and its two-hundred day moving average is $134.74.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its quarterly earnings results on Thursday, October 20th. The medical research company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.19 by $0.17. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.34 billion. Quest Diagnostics had a net margin of 12.00% and a return on equity of 21.36%. Quest Diagnostics’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.96 earnings per share. Equities analysts predict that Quest Diagnostics Incorporated will post 9.85 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Wednesday, January 18th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, January 17th. Quest Diagnostics’s payout ratio is 25.96%.

Insider Activity at Quest Diagnostics

In related news, Director Timothy M. Ring sold 2,000 shares of Quest Diagnostics stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $123.39, for a total transaction of $246,780.00. Following the sale, the director now directly owns 23,933 shares in the company, valued at $2,953,092.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $123.39, for a total value of $246,780.00. Following the sale, the director now directly owns 23,933 shares in the company, valued at $2,953,092.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael J. Deppe sold 15,497 shares of the business’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $145.00, for a total transaction of $2,247,065.00. Following the completion of the sale, the chief accounting officer now owns 32,013 shares in the company, valued at $4,641,885. The disclosure for this sale can be found here. Insiders have sold a total of 19,497 shares of company stock worth $2,781,965 over the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DGX. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Quest Diagnostics from $129.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, October 21st. William Blair reiterated an “outperform” rating on shares of Quest Diagnostics in a research note on Thursday, October 20th. Morgan Stanley upped their target price on shares of Quest Diagnostics from $142.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Friday, October 21st. Citigroup downgraded Quest Diagnostics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $145.00 to $125.00 in a report on Thursday, November 17th. Finally, StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $148.50.

Quest Diagnostics Company Profile

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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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