Cleararc Capital Inc. Makes New Investment in Quest Diagnostics Inc (NYSE:DGX)

Cleararc Capital Inc. purchased a new stake in Quest Diagnostics Inc (NYSE:DGX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,240 shares of the medical research company’s stock, valued at approximately $201,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc boosted its stake in shares of Quest Diagnostics by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 14,500,290 shares of the medical research company’s stock valued at $1,564,725,000 after purchasing an additional 201,951 shares in the last quarter. BlackRock Inc. lifted its position in Quest Diagnostics by 4.2% during the 1st quarter. BlackRock Inc. now owns 13,551,752 shares of the medical research company’s stock worth $1,218,576,000 after buying an additional 543,437 shares in the last quarter. Macquarie Group Ltd. lifted its position in Quest Diagnostics by 14.9% during the 4th quarter. Macquarie Group Ltd. now owns 7,708,550 shares of the medical research company’s stock worth $641,888,000 after buying an additional 1,000,318 shares in the last quarter. American Century Companies Inc. lifted its position in Quest Diagnostics by 27.4% during the 4th quarter. American Century Companies Inc. now owns 5,237,528 shares of the medical research company’s stock worth $436,129,000 after buying an additional 1,128,002 shares in the last quarter. Finally, Boston Partners lifted its position in Quest Diagnostics by 6,691.4% during the 1st quarter. Boston Partners now owns 3,033,915 shares of the medical research company’s stock worth $272,811,000 after buying an additional 2,989,242 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

In other Quest Diagnostics news, EVP J. E. Davis sold 47,574 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $95.00, for a total transaction of $4,519,530.00. Following the completion of the sale, the executive vice president now owns 84,108 shares of the company’s stock, valued at approximately $7,990,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Stephen H. Rusckowski sold 244,565 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $100.00, for a total value of $24,456,500.00. Following the sale, the chairman now directly owns 457,614 shares of the company’s stock, valued at approximately $45,761,400. The disclosure for this sale can be found here. In the last three months, insiders sold 365,144 shares of company stock valued at $36,276,530. 1.86% of the stock is currently owned by insiders.

Several analysts have weighed in on DGX shares. Wolfe Research started coverage on Iqvia in a report on Tuesday, April 2nd. They set a “market perform” rating for the company. Jefferies Financial Group reissued a “sell” rating on shares of Hi-Crush Partners in a report on Tuesday, April 2nd. UBS Group boosted their price objective on W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a report on Wednesday, April 24th. Zacks Investment Research raised Hudson Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Canaccord Genuity set a C$16.50 price objective on Detour Gold and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Quest Diagnostics has an average rating of “Hold” and a consensus price target of $101.67.

NYSE:DGX traded down $0.52 during trading hours on Friday, reaching $102.98. 620,859 shares of the stock were exchanged, compared to its average volume of 686,920. Quest Diagnostics Inc has a twelve month low of $78.95 and a twelve month high of $115.64. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The company’s 50 day simple moving average is $100.22. The stock has a market capitalization of $13.91 billion, a PE ratio of 16.32, a PEG ratio of 2.38 and a beta of 0.86.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.04. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $152.00 EPS. Analysts forecast that Quest Diagnostics Inc will post 6.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, July 5th. Quest Diagnostics’s payout ratio is presently 33.60%.

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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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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