Natixis Advisors L.P. grew its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 129.6% during the second quarter, HoldingsChannel reports. The firm owned 57,648 shares of the medical research company’s stock after purchasing an additional 32,536 shares during the quarter. Natixis Advisors L.P.’s holdings in Quest Diagnostics were worth $5,869,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Pearl River Capital LLC acquired a new position in Quest Diagnostics during the 2nd quarter worth $28,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth approximately $29,000. Berman Capital Advisors LLC lifted its position in shares of Quest Diagnostics by 47.7% during the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock worth $32,000 after purchasing an additional 103 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Quest Diagnostics during the first quarter valued at approximately $42,000. Finally, Signaturefd LLC grew its stake in shares of Quest Diagnostics by 74.7% during the first quarter. Signaturefd LLC now owns 505 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 216 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.
DGX stock traded down $0.72 during midday trading on Wednesday, reaching $103.83. The company’s stock had a trading volume of 40,169 shares, compared to its average volume of 912,925. The business’s 50-day simple moving average is $101.67 and its 200-day simple moving average is $96.47. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.58. Quest Diagnostics Inc has a 52 week low of $78.95 and a 52 week high of $109.29. The stock has a market cap of $14.01 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, October 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.04%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 33.60%.
Several research analysts recently weighed in on DGX shares. Zacks Investment Research upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price objective for the company in a research report on Wednesday, July 24th. Canaccord Genuity upped their price objective on Quest Diagnostics from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Goldman Sachs Group lowered Quest Diagnostics from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $90.00 to $85.00 in a research report on Monday, July 15th. Mizuho set a $110.00 target price on Quest Diagnostics and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, Morgan Stanley boosted their target price on Quest Diagnostics from $111.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $105.06.
In related news, Chairman Stephen H. Rusckowski sold 244,565 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $24,456,500.00. Following the transaction, the chairman now owns 457,614 shares of the company’s stock, valued at approximately $45,761,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Guinan sold 73,005 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total transaction of $7,300,500.00. Following the transaction, the insider now directly owns 139,022 shares in the company, valued at approximately $13,902,200. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.
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 testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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