The Alambic Investment Management L.P. Has $402,000 Stake in Quest Diagnostics Incorporated (DGX)

The Alambic Investment Management L.P. Has $402,000 Stake in Quest Diagnostics Incorporated (DGX)

Alambic Investment Management L.P. continued to hold its position in Quest Diagnostics Incorporated (NYSE:DGX) during the third quarter, according to its most recent filing with the SEC. The firm owned 4,750 shares of the company’s stock at the end of the third quarter. Alambic Investment Management L.P.’s holdings in Quest Diagnostics were worth $402,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. Financial Architects Inc increased its position in Quest Diagnostics by 6.4% in the second quarter. Financial Architects Inc now owns 1,476 shares of the company’s stock valued at $120,000 after buying an additional 89 shares during the last quarter. Pinkerton Retirement Specialists LLC increased its position in Quest Diagnostics by 792.4% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,651 shares of the company’s stock valued at $134,000 after buying an additional 1,466 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its position in Quest Diagnostics by 94.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,020 shares of the company’s stock valued at $164,000 after buying an additional 982 shares during the last quarter. Pennsylvania Trust Co acquired a new position in Quest Diagnostics during the third quarter valued at about $204,000. Finally, Pacer Advisors Inc. increased its position in Quest Diagnostics by 1.5% in the second quarter. Pacer Advisors Inc. now owns 2,458 shares of the company’s stock valued at $200,000 after buying an additional 36 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Incorporated (NYSE:DGX) traded up 0.76% during trading on Wednesday, hitting $92.96. 804,058 shares of the stock traded hands. Quest Diagnostics Incorporated has a 52-week low of $59.66 and a 52-week high of $93.84. The firm has a 50-day moving average price of $91.44 and a 200 day moving average price of $85.72. The company has a market cap of $12.89 billion, a P/E ratio of 19.73 and a beta of 0.66.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 14.57%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS. On average, equities analysts expect that Quest Diagnostics Incorporated will post $5.10 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Tuesday, January 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, January 6th. This represents a $1.80 annualized dividend and a yield of 1.94%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.40. Quest Diagnostics’s dividend payout ratio is currently 38.30%.

DGX has been the subject of several recent analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $108.00 price objective on shares of Quest Diagnostics in a research report on Wednesday. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity set a $90.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a research report on Thursday, October 20th. Mizuho reiterated a “neutral” rating and set a $88.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, November 30th. Finally, Barclays PLC set a $85.00 price objective on shares of Quest Diagnostics and gave the stock a “hold” rating in a research report on Monday, November 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $88.71.

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 Company’s Diagnostic Information Services business 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, employers and others.

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