UBS Group AG Buys 28,545 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

UBS Group AG grew its stake in shares of Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,774 shares of the medical research company’s stock after buying an additional 28,545 shares during the period. UBS Group AG’s holdings in Quest Diagnostics were worth $33,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DGX. Win Advisors Inc. increased its position in shares of Quest Diagnostics by 44.1% during the second quarter. Win Advisors Inc. now owns 271 shares of the medical research company’s stock valued at $37,000 after buying an additional 83 shares during the period. Larson Financial Group LLC increased its position in shares of Quest Diagnostics by 1,096.6% during the second quarter. Larson Financial Group LLC now owns 347 shares of the medical research company’s stock valued at $46,000 after buying an additional 318 shares during the period. Verity Asset Management Inc. purchased a new position in shares of Quest Diagnostics during the first quarter worth about $49,000. GoalVest Advisory LLC purchased a new position in shares of Quest Diagnostics during the second quarter worth about $53,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Quest Diagnostics by 136.2% during the first quarter. Parkside Financial Bank & Trust now owns 411 shares of the medical research company’s stock worth $56,000 after purchasing an additional 237 shares in the last quarter. 88.87% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Up 1.2 %

Shares of DGX opened at $148.46 on Thursday. The firm has a market cap of $16.91 billion, a P/E ratio of 14.60 and a beta of 1.02. The stock has a 50 day simple moving average of $134.89 and a two-hundred day simple moving average of $134.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.46 and a quick ratio of 1.34. Quest Diagnostics Incorporated has a 1 year low of $120.40 and a 1 year high of $174.16.

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

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Wednesday, January 18th 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 1.78%. The ex-dividend date is Tuesday, January 17th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 25.96%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CAO Michael J. Deppe sold 15,497 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $4,641,885. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Michael J. Deppe sold 15,497 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 32,013 shares in the company, valued at $4,641,885. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Timothy M. Ring sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $144.06, for a total value of $288,120.00. Following the transaction, the director now owns 24,149 shares of the company’s stock, valued at approximately $3,478,904.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,497 shares of company stock valued at $2,781,965. 1.70% of the stock is currently owned by company insiders.

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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