Ieq Capital LLC grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 34.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,980 shares of the medical research company’s stock after buying an additional 506 shares during the quarter. Ieq Capital LLC’s holdings in Quest Diagnostics were worth $280,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in DGX. Parallel Advisors LLC lifted its stake in Quest Diagnostics by 6.4% during the fourth quarter. Parallel Advisors LLC now owns 4,425 shares of the medical research company’s stock worth $692,000 after purchasing an additional 267 shares during the last quarter. New York State Common Retirement Fund increased its position in Quest Diagnostics by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 156,627 shares of the medical research company’s stock worth $24,503,000 after buying an additional 1,766 shares during the period. Handelsbanken Fonder AB increased its position in Quest Diagnostics by 7.0% in the fourth quarter. Handelsbanken Fonder AB now owns 59,815 shares of the medical research company’s stock worth $9,357,000 after buying an additional 3,892 shares during the period. WBH Advisory Inc. acquired a new stake in Quest Diagnostics in the first quarter worth $226,000. Finally, Aviva PLC increased its position in Quest Diagnostics by 44.3% in the fourth quarter. Aviva PLC now owns 188,756 shares of the medical research company’s stock worth $26,598,000 after buying an additional 57,972 shares during the period. 87.39% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on DGX. StockNews.com began coverage on Quest Diagnostics in a report on Thursday, May 18th. They set a “hold” rating on the stock. Bank of America cut Quest Diagnostics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $166.00 to $148.00 in a research note on Tuesday, May 2nd. Citigroup raised Quest Diagnostics from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $125.00 to $142.00 in a research note on Monday, April 3rd. Finally, Piper Sandler initiated coverage on Quest Diagnostics in a research note on Thursday, June 29th. They set a “neutral” rating on the stock. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $151.20.
Quest Diagnostics Stock Down 6.0 %
Quest Diagnostics (NYSE:DGX – Get Free Report) last released its quarterly earnings results on Thursday, April 27th. The medical research company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.07. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Quest Diagnostics had a return on equity of 16.51% and a net margin of 8.26%. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period last year, the firm posted $3.22 EPS. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 8.67 EPS for the current fiscal year.
Quest Diagnostics Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were paid a $0.71 dividend. The ex-dividend date was Monday, July 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.08%. Quest Diagnostics’s payout ratio is 41.89%.
About Quest Diagnostics
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.
See Also
- Five stocks we like better than Quest Diagnostics
- How to Invest in Cybersecurity
- Markets Are Loving Boeing Stock After Earnings, Time To Buy?
- Stock Dividend Cuts Happen Are You Ready?
- Nothing But Upside For High-Yield Verizon?
- How to Calculate Return on Investment (ROI)
- Will Coca-Cola Stock Move To New Highs Or Fall Flat In 2023?
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX – Free Report).
Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.
