Korea Investment CORP Has $384,000 Stake in Quest Diagnostics Inc (DGX)

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Korea Investment CORP decreased its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 79.9% during the 4th quarter, Holdings Channel reports. The firm owned 4,609 shares of the medical research company’s stock after selling 18,376 shares during the period. Korea Investment CORP’s holdings in Quest Diagnostics were worth $384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DGX. Ascent Wealth Partners LLC bought a new stake in shares of Quest Diagnostics during the 4th quarter worth $1,833,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Quest Diagnostics by 5.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 23,266 shares of the medical research company’s stock worth $1,937,000 after buying an additional 1,276 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Quest Diagnostics by 0.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 267,526 shares of the medical research company’s stock worth $21,484,000 after buying an additional 1,669 shares during the period. Northern Trust Corp boosted its holdings in shares of Quest Diagnostics by 3.3% during the 4th quarter. Northern Trust Corp now owns 1,974,416 shares of the medical research company’s stock worth $164,410,000 after buying an additional 62,591 shares during the period. Finally, Sapphire Star Partners LP bought a new stake in shares of Quest Diagnostics during the 4th quarter worth $70,000. Institutional investors own 88.21% of the company’s stock.

In other news, SVP Michael E. Prevoznik sold 336 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $88.23, for a total value of $29,645.28. Following the completion of the transaction, the senior vice president now owns 42,108 shares in the company, valued at approximately $3,715,188.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gail R. Wilensky sold 8,000 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $87.78, for a total transaction of $702,240.00. Following the completion of the transaction, the director now owns 34,604 shares of the company’s stock, valued at approximately $3,037,539.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,724 shares of company stock valued at $1,199,363. Corporate insiders own 1.79% of the company’s stock.

Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Credit Suisse Group reaffirmed a “buy” rating and set a $121.00 price objective on shares of Quest Diagnostics in a report on Sunday, December 2nd. Barclays decreased their price objective on shares of Quest Diagnostics from $125.00 to $117.00 and set an “overweight” rating for the company in a report on Friday, November 30th. Goldman Sachs Group downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $90.00 in a report on Friday, November 30th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $98.00 price target on shares of Quest Diagnostics in a report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $102.82.

Shares of Quest Diagnostics stock opened at $88.45 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Quest Diagnostics Inc has a fifty-two week low of $78.95 and a fifty-two week high of $116.49. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 2.04 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, February 14th. The medical research company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Quest Diagnostics had a net margin of 9.77% and a return on equity of 15.23%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $1.40 earnings per share. Quest Diagnostics’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Quest Diagnostics Inc will post 6.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is 33.60%.

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About Quest Diagnostics

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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