Healthcor Management Lowers stake in Quest Diagnostics Inc (DGX)

Quest Diagnostics Inc (DGX) : Healthcor Management reduced its stake in Quest Diagnostics Inc by 37.84% during the most recent quarter end. The investment management company now holds a total of 1,150,000 shares of Quest Diagnostics Inc which is valued at $98,658,500 after selling 700,000 shares in Quest Diagnostics Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Quest Diagnostics Inc makes up approximately 5.19% of Healthcor Management’s portfolio.

Other Hedge Funds, Including , Highland Capital Management Lp sold out all of its stake in DGX during the most recent quarter. The investment firm sold 105,000 shares of DGX which is valued $9,007,950. Marshall Wace Llp added DGX to its portfolio by purchasing 595,601 company shares during the most recent quarter which is valued at $51,096,610. Quest Diagnostics Inc makes up approx 0.42% of Marshall Wace Llp’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in DGX in the latest quarter, The investment management firm added 82,688 additional shares and now holds a total of 296,489 shares of Quest Diagnostics Inc which is valued at $25,394,283. Quest Diagnostics Inc makes up approx 0.08% of Mizuho Trust Banking Ltd.’s portfolio.

Quest Diagnostics Inc closed down -0.46 points or -0.56% at $82.36 with 16,29,277 shares getting traded on Thursday. Post opening the session at $82.93, the shares hit an intraday low of $81.97 and an intraday high of $82.93 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Quest Diagnostics Inc reported $1.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $1.32. The company had revenue of $1906.00 million for the quarter, compared to analysts expectations of $1905.57 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.25 EPS.

Investors should note that on Aug 17, 2016, Quest Diagnostics Inc announced a cash dividend of $0.4000. The company’s management has announced Sep 30, 2016 as the ex-dividend date and fixed the record date on Oct 4, 2016. The payable date has been fixed on Oct 19, 2016.

Many Wall Street Analysts have commented on Quest Diagnostics Inc. Mizuho Downgraded Quest Diagnostics Inc on Aug 31, 2016 to ” Neutral”, Price Target of the shares are set at $86.

Quest Diagnostics Incorporated is a provider of diagnostic testing information services. The Company consists of two businesses: Diagnostic Information Services and Diagnostic Solutions. Diagnostic Information Services business consists of two parts develops and delivers diagnostic testing information and services to patients physicians health plans hospitals accountable care organizations (ACOs) integrated delivery networks (IDNs) other commercial laboratories patients and other customers. Diagnostics Information Services business also provides diagnostic information services which includes providing clinical testing services such as routine testing gene-based and esoteric testing anatomic pathology services and drugs-of-abuse testing. Diagnostic Solutions includes the Company’s other businesses including central laboratory testing for pharmaceutical and medical device clinical trials risk assessment services diagnostic products and healthcare information technology.

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