Wedge Capital Management L L P NC Sells 2,310 Shares of Quest Diagnostics (DGX)

Wedge Capital Management L L P NC decreased its holdings in Quest Diagnostics (NYSE:DGX) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,453 shares of the medical research company’s stock after selling 2,310 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Quest Diagnostics were worth $1,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC grew its position in Quest Diagnostics by 665.6% during the 4th quarter. Advisory Services Network LLC now owns 2,358 shares of the medical research company’s stock worth $232,000 after purchasing an additional 2,050 shares in the last quarter. Alliancebernstein L.P. grew its position in Quest Diagnostics by 18.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,816,985 shares of the medical research company’s stock worth $178,955,000 after purchasing an additional 280,401 shares in the last quarter. National Pension Service grew its position in Quest Diagnostics by 9.5% during the 4th quarter. National Pension Service now owns 155,469 shares of the medical research company’s stock worth $15,312,000 after purchasing an additional 13,460 shares in the last quarter. Guggenheim Capital LLC grew its position in Quest Diagnostics by 2.4% during the 4th quarter. Guggenheim Capital LLC now owns 504,765 shares of the medical research company’s stock worth $49,715,000 after purchasing an additional 11,654 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in Quest Diagnostics during the 4th quarter worth approximately $4,154,000. Hedge funds and other institutional investors own 89.03% of the company’s stock.

DGX stock opened at $101.10 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.14. Quest Diagnostics has a 1 year low of $90.10 and a 1 year high of $112.96. The firm has a market capitalization of $13.79 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.00 and a beta of 0.71.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, April 19th. The medical research company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. Quest Diagnostics had a net margin of 10.19% and a return on equity of 15.44%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business earned $1.33 EPS. Quest Diagnostics’s quarterly revenue was up 3.7% compared to the same quarter last year. equities analysts forecast that Quest Diagnostics will post 6.61 earnings per share for the current year.

In related news, SVP Jon R. Cohen sold 83,669 shares of Quest Diagnostics stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $104.20, for a total value of $8,718,309.80. Following the completion of the sale, the senior vice president now owns 115,426 shares of the company’s stock, valued at approximately $12,027,389.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Catherine T. Doherty sold 397 shares of Quest Diagnostics stock in a transaction on Monday, February 26th. The shares were sold at an average price of $102.74, for a total transaction of $40,787.78. Following the completion of the sale, the senior vice president now directly owns 71,926 shares of the company’s stock, valued at approximately $7,389,677.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,013 shares of company stock valued at $10,385,983. 1.79% of the stock is owned by company insiders.

DGX has been the topic of several research analyst reports. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Canaccord Genuity lifted their price objective on shares of Quest Diagnostics from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, March 19th. Credit Suisse Group upgraded shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and set a $107.00 price objective on the stock in a research report on Tuesday, February 13th. Goldman Sachs initiated coverage on shares of Quest Diagnostics in a research report on Monday, January 29th. They set a “buy” rating and a $117.00 price objective on the stock. Finally, Morgan Stanley upgraded shares of Quest Diagnostics from an “underweight” rating to an “equal weight” rating and set a $103.00 price objective on the stock in a research report on Wednesday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $108.33.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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

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