Mercer Global Advisors Inc. ADV Raises Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Mercer Global Advisors Inc. ADV boosted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 52.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,358 shares of the medical research company’s stock after purchasing an additional 14,256 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Quest Diagnostics were worth $5,308,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. AE Wealth Management LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter worth about $223,000. Treasurer of the State of North Carolina boosted its position in shares of Quest Diagnostics by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 51,262 shares of the medical research company’s stock worth $6,109,000 after acquiring an additional 190 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Quest Diagnostics by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 23,948 shares of the medical research company’s stock worth $2,854,000 after acquiring an additional 890 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Quest Diagnostics during the 4th quarter worth about $565,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Quest Diagnostics by 2.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,845 shares of the medical research company’s stock worth $816,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 87.34% of the company’s stock.

In related news, SVP Catherine T. Doherty sold 8,536 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $139.96, for a total value of $1,194,698.56. Following the completion of the transaction, the senior vice president now directly owns 68,729 shares of the company’s stock, valued at approximately $9,619,310.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 44,939 shares of the firm’s stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $137.00, for a total value of $6,156,643.00. Following the completion of the transaction, the senior vice president now directly owns 85,091 shares of the company’s stock, valued at $11,657,467. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

A number of brokerages recently issued reports on DGX. Robert W. Baird reissued a “neutral” rating and issued a $137.00 target price on shares of Quest Diagnostics in a research report on Thursday, March 18th. UBS Group raised Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their target price for the company from $135.00 to $158.00 in a research report on Tuesday, May 4th. Mizuho upped their target price on Quest Diagnostics from $149.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 12th. Finally, Morgan Stanley upped their target price on Quest Diagnostics from $130.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, March 12th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $142.36.

DGX opened at $128.18 on Friday. The firm’s 50 day moving average is $131.39. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The stock has a market cap of $16.75 billion, a P/E ratio of 9.73, a PEG ratio of 0.43 and a beta of 1.04. Quest Diagnostics Incorporated has a 52 week low of $103.26 and a 52 week high of $142.80.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, April 22nd. The medical research company reported $3.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.77 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Quest Diagnostics had a return on equity of 29.42% and a net margin of 17.43%. The business’s quarterly revenue was up 49.3% on a year-over-year basis. During the same period last year, the company posted $0.94 earnings per share. Analysts predict that Quest Diagnostics Incorporated will post 11.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 21st. Stockholders of record on Wednesday, July 7th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, July 6th. Quest Diagnostics’s dividend payout ratio (DPR) is 22.18%.

About Quest Diagnostics

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.

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

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