CHURCHILL MANAGEMENT Corp Takes Position in Quest Diagnostics Incorporated (NYSE:DGX)

CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,758 shares of the medical research company’s stock, valued at approximately $1,483,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Quest Diagnostics in the third quarter worth about $493,000. Wellington Management Group LLP boosted its holdings in shares of Quest Diagnostics by 14.6% in the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after buying an additional 333,947 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Quest Diagnostics by 1.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 16,439 shares of the medical research company’s stock worth $2,003,000 after buying an additional 218 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Quest Diagnostics by 41.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 16,901 shares of the medical research company’s stock worth $2,060,000 after buying an additional 4,992 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Quest Diagnostics by 5.4% in the third quarter. Invesco Ltd. now owns 1,798,803 shares of the medical research company’s stock worth $219,202,000 after buying an additional 92,542 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the sale, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the sale, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The disclosure for this sale can be found here. Insiders have sold 15,150 shares of company stock worth $1,913,202 over the last 90 days. Corporate insiders own 0.66% of the company’s stock.

Quest Diagnostics Stock Up 0.4 %

DGX opened at $129.30 on Monday. Quest Diagnostics Incorporated has a fifty-two week low of $119.59 and a fifty-two week high of $148.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. The firm’s fifty day moving average price is $127.93 and its two-hundred day moving average price is $130.11. The company has a market capitalization of $14.31 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.79 and a beta of 0.90.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.04. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company earned $1.98 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. On average, analysts anticipate that Quest Diagnostics Incorporated will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a yield of 2.32%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s payout ratio is currently 37.92%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. UBS Group raised their price target on shares of Quest Diagnostics from $135.00 to $137.00 and gave the stock a “neutral” rating in a report on Thursday, December 7th. Finally, Jefferies Financial Group upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Hold” and a consensus target price of $144.18.

View Our Latest Stock Report on Quest Diagnostics

Quest Diagnostics Company Profile

(Free Report)

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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

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