Cambria Investment Management L.P. Sells 1,456 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Cambria Investment Management L.P. trimmed its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 3.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,136 shares of the medical research company’s stock after selling 1,456 shares during the period. Cambria Investment Management L.P.’s holdings in Quest Diagnostics were worth $6,344,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Park Place Capital Corp grew its holdings in Quest Diagnostics by 73.4% in the 2nd quarter. Park Place Capital Corp now owns 189 shares of the medical research company’s stock valued at $27,000 after buying an additional 80 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in Quest Diagnostics in the 1st quarter valued at approximately $28,000. Alaska Permanent Fund Corp acquired a new stake in Quest Diagnostics in the 2nd quarter valued at approximately $37,000. Altshuler Shaham Ltd acquired a new stake in Quest Diagnostics in the 2nd quarter valued at approximately $38,000. Finally, Parkside Financial Bank & Trust grew its holdings in Quest Diagnostics by 136.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 411 shares of the medical research company’s stock valued at $56,000 after buying an additional 237 shares during the last quarter. 87.76% of the stock is owned by institutional investors.

Quest Diagnostics Price Performance

Shares of DGX stock opened at $135.47 on Thursday. The stock has a 50-day moving average price of $126.51 and a 200 day moving average price of $132.56. The company has a quick ratio of 1.01, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 20.34 and a beta of 0.92. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $158.34.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, October 24th. The medical research company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.03. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Quest Diagnostics had a return on equity of 15.80% and a net margin of 8.21%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $2.36 earnings per share. Research analysts expect that Quest Diagnostics Incorporated will post 8.71 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be given a dividend of $0.71 per share. The ex-dividend date is Tuesday, January 16th. This represents a $2.84 annualized dividend and a dividend yield of 2.10%. Quest Diagnostics’s payout ratio is currently 42.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DGX. Morgan Stanley reissued an “equal weight” rating and set a $145.00 price objective on shares of Quest Diagnostics in a report on Thursday, August 3rd. Citigroup decreased their price target on Quest Diagnostics from $142.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th. Piper Sandler boosted their price target on Quest Diagnostics from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. TheStreet lowered Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. Finally, StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $145.80.

Quest Diagnostics Company Profile

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.