Tocqueville Asset Management L.P. reduced its position in Quest Diagnostics Inc (NYSE:DGX) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 196,260 shares of the medical research company’s stock after selling 5,100 shares during the period. Tocqueville Asset Management L.P. owned about 0.14% of Quest Diagnostics worth $21,178,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Captrust Financial Advisors lifted its stake in Quest Diagnostics by 120.0% in the 2nd quarter. Captrust Financial Advisors now owns 2,712 shares of the medical research company’s stock valued at $298,000 after purchasing an additional 1,479 shares during the last quarter. Summit Global Investments lifted its stake in Quest Diagnostics by 47.7% in the 2nd quarter. Summit Global Investments now owns 41,186 shares of the medical research company’s stock valued at $4,528,000 after purchasing an additional 13,292 shares during the last quarter. Palo Capital Inc. raised its holdings in Quest Diagnostics by 16.4% in the 3rd quarter. Palo Capital Inc. now owns 13,912 shares of the medical research company’s stock valued at $1,501,000 after acquiring an additional 1,965 shares during the period. Argent Trust Co bought a new position in Quest Diagnostics in the 2nd quarter valued at about $2,740,000. Finally, HPM Partners LLC bought a new position in Quest Diagnostics in the 2nd quarter valued at about $272,000. Institutional investors and hedge funds own 86.26% of the company’s stock.
Several research firms have weighed in on DGX. SunTrust Banks lowered their price target on shares of Quest Diagnostics to $96.00 and set a “positive” rating on the stock in a report on Monday. Bank of America cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating in a report on Monday. Credit Suisse Group reissued a “buy” rating and issued a $121.00 price target on shares of Quest Diagnostics in a report on Sunday. Barclays lowered their price target on shares of Quest Diagnostics from $125.00 to $117.00 and set an “overweight” rating on the stock in a report on Friday, November 30th. Finally, Craig Hallum reissued a “hold” rating and issued a $94.00 price target on shares of Quest Diagnostics in a report on Friday, November 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $106.19.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 23rd. The medical research company reported $1.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.68. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the firm earned $1.38 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Quest Diagnostics Inc will post 6.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, January 14th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 2.42%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.04%.
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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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