MBB Public Markets I LLC Buys New Shares in Quest Diagnostics Incorporated (NYSE:DGX)

MBB Public Markets I LLC bought a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,748 shares of the medical research company’s stock, valued at approximately $1,061,000.

Several other large investors have also recently bought and sold shares of the stock. Dark Forest Capital Management LP raised its stake in Quest Diagnostics by 560.2% during the 2nd quarter. Dark Forest Capital Management LP now owns 13,501 shares of the medical research company’s stock valued at $1,848,000 after purchasing an additional 11,456 shares during the last quarter. APG Asset Management N.V. increased its holdings in Quest Diagnostics by 13.5% in the 2nd quarter. APG Asset Management N.V. now owns 363,453 shares of the medical research company’s stock valued at $46,419,000 after buying an additional 43,308 shares during the period. AQR Capital Management LLC increased its holdings in Quest Diagnostics by 18.6% in the 2nd quarter. AQR Capital Management LLC now owns 147,469 shares of the medical research company’s stock valued at $20,186,000 after buying an additional 23,150 shares during the period. AXA S.A. increased its holdings in Quest Diagnostics by 564.7% in the 2nd quarter. AXA S.A. now owns 14,603 shares of the medical research company’s stock valued at $1,999,000 after buying an additional 12,406 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Quest Diagnostics in the 2nd quarter valued at $814,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird boosted their price target on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Evercore ISI initiated coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target on the stock. Barclays upped their target price on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 27th. Finally, Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $154.33.

Quest Diagnostics Stock Up 0.3 %

Shares of NYSE DGX opened at $155.25 on Tuesday. The firm’s 50-day simple moving average is $151.29 and its 200 day simple moving average is $141.97. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $159.36.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.30 EPS. On average, research analysts expect that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

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.