Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 19.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 64,245 shares of the medical research company’s stock after acquiring an additional 10,467 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Quest Diagnostics were worth $8,791,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DGX. Norges Bank purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $212,114,000. BlackRock Inc. grew its position in shares of Quest Diagnostics by 10.1% in the 1st quarter. BlackRock Inc. now owns 12,807,624 shares of the medical research company’s stock valued at $1,752,852,000 after buying an additional 1,171,242 shares during the last quarter. American Century Companies Inc. grew its position in shares of Quest Diagnostics by 33.7% in the 1st quarter. American Century Companies Inc. now owns 2,634,641 shares of the medical research company’s stock valued at $360,577,000 after buying an additional 664,574 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Quest Diagnostics by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after buying an additional 636,301 shares during the last quarter. Finally, Invesco Ltd. grew its position in Quest Diagnostics by 66.2% during the 4th quarter. Invesco Ltd. now owns 1,452,951 shares of the medical research company’s stock worth $251,374,000 after purchasing an additional 578,810 shares during the last quarter. 88.87% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 1.0 %

DGX stock opened at $124.34 on Wednesday. Quest Diagnostics Incorporated has a one year low of $122.63 and a one year high of $174.16. The stock has a market capitalization of $14.50 billion, a PE ratio of 10.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.54. The company has a fifty day moving average of $132.42 and a 200-day moving average of $135.53.

Quest Diagnostics (NYSE:DGXGet Rating) last released its earnings results on Thursday, July 21st. The medical research company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.26 by $0.10. Quest Diagnostics had a net margin of 14.02% and a return on equity of 24.62%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the business earned $3.18 EPS. The business’s revenue was down 3.8% on a year-over-year basis. As a group, analysts expect that Quest Diagnostics Incorporated will post 9.68 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, October 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is 21.96%.

Insider Activity at Quest Diagnostics

In related news, Director Timothy M. Ring sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $136.04, for a total value of $272,080.00. Following the completion of the sale, the director now owns 23,933 shares in the company, valued at $3,255,845.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DGX. Morgan Stanley reissued an “equal weight” rating and set a $142.00 price objective on shares of Quest Diagnostics in a research report on Monday, August 22nd. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $148.50.

Quest Diagnostics Company Profile

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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

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

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