M&R Capital Management Inc. grew its holdings in shares of Quest Diagnostics Incorporated (NYSE: DGX – Get Rating) by 384.6% during the first quarter, Holdings Channel reports. The firm owned 1,008 shares of the medical research company stock after purchasing an additional 800 shares during the quarter. M&R Capital Management Inc.’s holdings in Quest Diagnostics were worth $ 137,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Signaturefd LLC lifted its holdings in shares of Quest Diagnostics by 7.5% during the fourth quarter. Signaturefd LLC now owns 1,064 shares of the medical research company stock worth $ 184,000 after purchasing an additional 74 shares during the period. MMA Asset Management LLC lifted its holdings in shares of Quest Diagnostics by 4.8% during the fourth quarter. MMA Asset Management LLC now owns 1,695 shares of the medical research company stock worth $ 293,000 after purchasing an additional 78 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of Quest Diagnostics by 2.1% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,904 shares of the medical research company stock worth $ 675,000 after purchasing an additional 79 shares during the period. Strs Ohio lifted its holdings in shares of Quest Diagnostics by 0.5% during the fourth quarter. Strs Ohio now owns 17,500 shares of the medical research company stock worth $ 3,027,000 after purchasing an additional 79 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Quest Diagnostics by 19.7% during the fourth quarter. Quadrant Capital Group LLC now owns 493 shares of the medical research company stock worth $ 85,000 after purchasing an additional 81 shares during the period. Institutional investors own 89.89% of the company stock.
Shares of DGX stock opened at $ 130.64 on Friday. Quest Diagnostics Incorporated has a fifty-two week low of $ 125.33 and a fifty-two week high of $ 174.16. The stock has a market cap of $ 15.33 billion, a P / E ratio of 8.70 and a beta of 1.05. The business has a fifty day simple moving average of $ 136.46 and a 200-day simple moving average of $ 142.30. The company has a quick ratio of 1.34, a current ratio of 1.46 and a debt-to-equity ratio of 0.62.
Quest Diagnostics (NYSE: DGX – Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The medical research company reported $ 3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $ 2.91 by $ 0.31. The business had revenue of $ 2.61 billion during the quarter, compared to analysts’ expectations of $ 2.64 billion. Quest Diagnostics had a return on equity of 27.08% and a net margin of 17.61%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $ 3.76 earnings per share. On average, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 20th. Investors of record on Wednesday, July 6th will be paid a dividend of $ 0.66 per share. This represents a $ 2.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, July 5th. Quest Diagnostics’s payout ratio is currently 17.58%.
In other Quest Diagnostics news, CEO Stephen H. Rusckowski sold 282,408 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $ 140.12, for a total value of $ 39,571,008.96. Following the sale, the chief executive officer now directly owns 334,833 shares of the company stock, valued at approximately $ 46,916,799.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 50,604 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $ 139.97, for a total value of $ 7,083,041.88. Following the completion of the sale, the senior vice president now directly owns 39,224 shares in the company, valued at $ 5,490,183.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Several equities research analysts recently weighed in on the company. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Saturday, June 11th. Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $ 175.00 to $ 140.00 in a research report on Monday, April 4th. UBS Group increased their price objective on Quest Diagnostics from $ 139.00 to $ 150.00 in a research report on Sunday, April 24th. Bank of America cut their price objective on Quest Diagnostics from $ 166.00 to $ 163.00 and set a “buy” rating for the company in a research report on Friday, April 22nd. Finally, Wells Fargo & Company increased their price objective on Quest Diagnostics from $ 145.00 to $ 150.00 and gave the stock an “equal weight” rating in a research report on Monday, April 25th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $ 150.33.
Quest Diagnostics Profile: (Get Rating)
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.
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