Quest Diagnostics Inc (DGX) : Sarissa Capital Management Lp reduced its stake in Quest Diagnostics Inc by 68.55% during the most recent quarter end. The investment management company now holds a total of 50,000 shares of Quest Diagnostics Inc which is valued at $4,255,000 after selling 109,000 shares in Quest Diagnostics Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Quest Diagnostics Inc makes up approximately 1.00% of Sarissa Capital Management Lp’s portfolio.
Other Hedge Funds, Including , Etrade Capital Management reduced its stake in DGX by selling 20,260 shares or 63.16% in the most recent quarter. The Hedge Fund company now holds 11,817 shares of DGX which is valued at $1,005,627. Quest Diagnostics Inc makes up approx 0.05% of Etrade Capital Management’s portfolio.Teacher Retirement System Of Texas boosted its stake in DGX in the latest quarter, The investment management firm added 7,223 additional shares and now holds a total of 17,459 shares of Quest Diagnostics Inc which is valued at $1,418,020. Quest Diagnostics Inc makes up approx 0.01% of Teacher Retirement System Of Texas’s portfolio.Joel Isaacson boosted its stake in DGX in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 107 shares of Quest Diagnostics Inc which is valued at $8,899.
Quest Diagnostics Inc closed down -0.25 points or -0.29% at $85.54 with 25,43,988 shares getting traded on Monday. Post opening the session at $85.68, the shares hit an intraday low of $85.24 and an intraday high of $86.035 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Quest Diagnostics Inc reported $1.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $1.35. The company had revenue of $1885.00 million for the quarter, compared to analysts expectations of $1886.96 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.
Investors should note that on Nov 11, 2016, Quest Diagnostics Inc announced a cash dividend of $0.4500. The company’s management has announced Jan 6, 2017 as the ex-dividend date and fixed the record date on Jan 10, 2017. The payable date has been fixed on Jan 25, 2017.
Many Wall Street Analysts have commented on Quest Diagnostics Inc. Company shares were Upgraded by UBS on Nov 14, 2016 to ” Buy”, Firm has raised the Price Target to $ 90 from a previous price target of $88 .Company shares were Reiterated by Mizuho on Oct 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 88 from a previous price target of $86 .Quest Diagnostics Inc was Initiated by Citigroup to “Neutral” on Sep 9, 2016.
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 Companys other businesses including central laboratory testing for pharmaceutical and medical device clinical trials risk assessment services diagnostic products and healthcare information technology.