Rockefeller Capital Management L.P. Decreases Position in Quest Diagnostics Inc (DGX)

Rockefeller Capital Management L.P. decreased its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,654 shares of the medical research company’s stock after selling 3,187 shares during the period. Rockefeller Capital Management L.P.’s holdings in Quest Diagnostics were worth $1,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Quest Diagnostics by 8,866.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,076 shares of the medical research company’s stock worth $118,000 after acquiring an additional 1,064 shares in the last quarter. Fort L.P. acquired a new position in Quest Diagnostics during the 2nd quarter worth about $121,000. Capital Advisors Ltd. LLC acquired a new position in Quest Diagnostics during the 3rd quarter worth about $123,000. Flagship Harbor Advisors LLC acquired a new position in Quest Diagnostics during the 2nd quarter worth about $126,000. Finally, Dupont Capital Management Corp lifted its stake in Quest Diagnostics by 64.4% during the 2nd quarter. Dupont Capital Management Corp now owns 1,202 shares of the medical research company’s stock worth $132,000 after acquiring an additional 471 shares in the last quarter. 86.55% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Quest Diagnostics from $114.00 to $107.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Argus set a $120.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research note on Friday, September 14th. William Blair reissued an “outperform” rating on shares of Quest Diagnostics in a research note on Tuesday, October 23rd. Credit Suisse Group upped their price target on Quest Diagnostics from $121.00 to $128.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Finally, Evercore ISI upgraded Quest Diagnostics from an “in-line” rating to an “outperform” rating and set a $103.00 price target on the stock in a report on Tuesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Quest Diagnostics has an average rating of “Buy” and an average target price of $111.13.

Shares of NYSE DGX opened at $95.48 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.09 and a debt-to-equity ratio of 0.63. Quest Diagnostics Inc has a 1-year low of $90.31 and a 1-year high of $116.49. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.68 and a beta of 0.90.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.68. Quest Diagnostics had a return on equity of 15.71% and a net margin of 11.30%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the business earned $1.38 EPS. Quest Diagnostics’s revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that Quest Diagnostics Inc will post 6.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 22nd. Stockholders of record on Friday, October 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. Quest Diagnostics’s payout ratio is currently 37.04%.

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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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