Toronto Dominion Bank Has $5.81 Million Holdings in Quest Diagnostics Inc (DGX)
Toronto Dominion Bank lifted its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 13.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 58,998 shares of the medical research company’s stock after purchasing an additional 6,958 shares during the period. Toronto Dominion Bank’s holdings in Quest Diagnostics were worth $5,811,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. APG Asset Management N.V. grew its holdings in shares of Quest Diagnostics by 156.0% during the 3rd quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock valued at $251,320,000 after purchasing an additional 1,635,700 shares during the last quarter. Victory Capital Management Inc. boosted its position in Quest Diagnostics by 29.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,487,295 shares of the medical research company’s stock valued at $244,974,000 after buying an additional 560,538 shares during the period. Bessemer Group Inc. boosted its position in Quest Diagnostics by 73.1% during the 4th quarter. Bessemer Group Inc. now owns 2,107,796 shares of the medical research company’s stock valued at $207,596,000 after buying an additional 889,802 shares during the period. American Century Companies Inc. boosted its position in Quest Diagnostics by 16.8% during the 4th quarter. American Century Companies Inc. now owns 2,039,110 shares of the medical research company’s stock valued at $200,832,000 after buying an additional 293,611 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Quest Diagnostics by 10.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,033,496 shares of the medical research company’s stock valued at $190,417,000 after buying an additional 193,829 shares during the period. 88.65% of the stock is currently owned by institutional investors.
DGX has been the subject of several analyst reports. Goldman Sachs Group 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 target for the company. Mizuho set a $113.00 price target on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Wednesday, January 24th. Canaccord Genuity reissued a “buy” rating and set a $110.00 price target on shares of Quest Diagnostics in a research report on Tuesday, January 16th. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, February 6th. Finally, Argus raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price target for the company from $104.14 to $116.00 in a research report on Wednesday, March 7th. Fourteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $108.65.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, February 1st. The medical research company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Quest Diagnostics had a net margin of 10.00% and a return on equity of 15.41%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.31 EPS. research analysts predict that Quest Diagnostics Inc will post 6.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, April 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is presently 32.73%.
In related news, EVP J. E. Davis sold 63,880 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total value of $6,303,678.40. Following the completion of the transaction, the executive vice president now directly owns 101,423 shares in the company, valued at approximately $10,008,421.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Catherine T. Doherty sold 21,294 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $104.00, for a total transaction of $2,214,576.00. Following the completion of the transaction, the senior vice president now owns 90,709 shares of the company’s stock, valued at $9,433,736. The disclosure for this sale can be found here. Over the last quarter, insiders sold 292,027 shares of company stock valued at $30,336,117. 1.75% of the stock is owned by company insiders.
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About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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