Stoneridge Investment Partners LLC Invests $4.36 Million in Quest Diagnostics Inc (DGX)

Stoneridge Investment Partners LLC purchased a new position in shares of Quest Diagnostics Inc (NYSE:DGX) in the third quarter, Holdings Channel reports. The fund purchased 40,365 shares of the medical research company’s stock, valued at approximately $4,356,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Citizens Bank & Trust Co. grew its holdings in shares of Quest Diagnostics by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 17,923 shares of the medical research company’s stock worth $1,970,000 after buying an additional 456 shares in the last quarter. Amalgamated Bank grew its holdings in Quest Diagnostics by 2.7% in the second quarter. Amalgamated Bank now owns 17,467 shares of the medical research company’s stock valued at $1,920,000 after purchasing an additional 462 shares during the period. Dupont Capital Management Corp grew its holdings in Quest Diagnostics by 64.4% in the second quarter. Dupont Capital Management Corp now owns 1,202 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 471 shares during the period. Nisa Investment Advisors LLC grew its holdings in Quest Diagnostics by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 37,587 shares of the medical research company’s stock valued at $4,132,000 after purchasing an additional 500 shares during the period. Finally, Acropolis Investment Management LLC grew its holdings in Quest Diagnostics by 19.2% in the third quarter. Acropolis Investment Management LLC now owns 4,225 shares of the medical research company’s stock valued at $456,000 after purchasing an additional 680 shares during the period. Institutional investors and hedge funds own 86.11% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Argus set a $106.00 target price on shares of Quest Diagnostics and gave the company a “buy” rating in a report on Wednesday, October 24th. Canaccord Genuity lowered their target price on shares of Quest Diagnostics from $118.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Barclays lowered their target price on shares of Quest Diagnostics from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. Credit Suisse Group lowered their target price on shares of Quest Diagnostics from $128.00 to $121.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Finally, Citigroup lowered their target price on shares of Quest Diagnostics from $112.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $111.13.



Shares of DGX stock opened at $92.86 on Wednesday. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.09 and a current ratio of 1.15. Quest Diagnostics Inc has a fifty-two week low of $90.31 and a fifty-two week high of $116.49.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.68. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. Quest Diagnostics’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 earnings per share. As a group, equities research analysts anticipate that Quest Diagnostics Inc will post 6.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 22nd. Shareholders of record on Friday, October 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.15%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.04%.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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

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