Quest Diagnostics Incorporated (NYSE:DGX) Stake Cut by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda reduced its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,187 shares of the medical research company’s stock after selling 260 shares during the period. Kapitalo Investimentos Ltda’s holdings in Quest Diagnostics were worth $439,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DGX. Raymond James & Associates increased its position in Quest Diagnostics by 103.3% in the 4th quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after purchasing an additional 75,315 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Quest Diagnostics in the 4th quarter worth about $1,483,000. Wellington Management Group LLP increased its position in Quest Diagnostics by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after purchasing an additional 333,947 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Quest Diagnostics by 5.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock worth $18,634,000 after purchasing an additional 7,415 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Quest Diagnostics by 201.5% in the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after purchasing an additional 21,327 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $137.32 on Wednesday. The business has a 50 day moving average price of $137.52 and a 200 day moving average price of $133.66. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $145.62. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.97 and a beta of 0.89. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the company earned $2.04 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts predict that Quest Diagnostics Incorporated will post 8.79 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be given a $0.75 dividend. The ex-dividend date is Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.18%. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DGX shares. Citigroup increased their price objective on Quest Diagnostics from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. SVB Leerink started coverage on Quest Diagnostics in a report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective on the stock. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho increased their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Barclays increased their price objective on Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $146.67.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,760 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the sale, the senior vice president now owns 13,435 shares in the company, valued at approximately $1,880,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Company 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.