Claro Advisors LLC Acquires New Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Claro Advisors LLC bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,563 shares of the medical research company’s stock, valued at approximately $1,485,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in shares of Quest Diagnostics by 50.9% during the 1st quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company’s stock valued at $5,562,000 after purchasing an additional 14,090 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Quest Diagnostics by 16.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company’s stock worth $17,481,000 after buying an additional 18,642 shares in the last quarter. Vanguard Group Inc. grew its position in Quest Diagnostics by 2.5% in the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after buying an additional 345,754 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Quest Diagnostics in the first quarter valued at $729,000. Finally, Janus Henderson Group PLC lifted its position in shares of Quest Diagnostics by 126.0% during the 1st quarter. Janus Henderson Group PLC now owns 37,305 shares of the medical research company’s stock valued at $4,966,000 after acquiring an additional 20,800 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Up 0.4 %

Quest Diagnostics stock opened at $149.58 on Friday. The firm’s 50 day moving average price is $152.67 and its two-hundred day moving average price is $143.93. The firm has a market cap of $16.62 billion, a PE ratio of 20.13, a P/E/G ratio of 2.45 and a beta of 0.89. Quest Diagnostics Incorporated has a twelve month low of $120.87 and a twelve month high of $159.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. Quest Diagnostics’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.30 earnings per share. On average, research analysts predict that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s payout ratio is presently 40.38%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DGX. Robert W. Baird lifted their target price on Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Evercore ISI started coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target on the stock. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. Finally, Barclays boosted their price target on shares of Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a report on Tuesday, August 27th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $154.92.

Quest Diagnostics Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.