Short Interest: What’s Ahead for Quest Diagnostics Incorporated (NYSE:DGX) After More Shorted Shares?

December 1, 2016 - By Peter Erickson   ·   0 Comments

Short Interest: What’s Ahead for Quest Diagnostics Incorporated (NYSE:DGX) After More Shorted Shares?

The stock of Quest Diagnostics Incorporated (NYSE:DGX) registered an increase of 3.66% in short interest. DGX’s total short interest was 5.95 million shares in December as published by FINRA. Its up 3.66% from 5.74 million shares, reported previously. With 1.20M shares average volume, it will take short sellers 5 days to cover their DGX’s short positions. The short interest to Quest Diagnostics Incorporated’s float is 4.31%. About 26,248 shares traded hands. Quest Diagnostics Inc (NYSE:DGX) has risen 16.10% since April 28, 2016 and is uptrending. It has outperformed by 10.18% the S&P500.

Quest Diagnostics Incorporated is a well-known provider of diagnostic information services. The company has a market cap of $11.99 billion. The Firm operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. It has a 18.58 P/E ratio. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations , integrated delivery networks (IDNs), other commercial laboratories, employers and others.

Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.15, from 1.07 in 2016Q1. The ratio worsened, as 35 funds sold all Quest Diagnostics Inc shares owned while 173 reduced positions. 55 funds bought stakes while 168 increased positions. They now own 124.00 million shares or 7.05% less from 133.41 million shares in 2016Q1.
State Of Wisconsin Board has 180,379 shares for 0.06% of their US portfolio. Dnb Asset As accumulated 12,836 shares or 0% of the stock. Utah Retirement holds 0.06% or 25,934 shares in its portfolio. The Nebraska-based Ameritas Invest Incorporated has invested 0.14% in Quest Diagnostics Inc (NYSE:DGX). Moreover, Da Davidson & Company has 0.01% invested in Quest Diagnostics Inc (NYSE:DGX) for 3,478 shares. Ibm Retirement Fund holds 0.05% of its portfolio in Quest Diagnostics Inc (NYSE:DGX) for 16,784 shares. Putnam Invests Llc has 3,177 shares for 0% of their US portfolio. Mizuho Trust And Banking Communications holds 296,489 shares or 0.07% of its portfolio. 1St Global Advsr accumulated 0.1% or 8,878 shares. Prudential accumulated 225,266 shares or 0.03% of the stock. Kcg Incorporated has 0.01% invested in the company for 5,761 shares. Investec Asset Management, a United Kingdom-based fund reported 2.04 million shares. M&R Mngmt Inc owns 372 shares or 0.01% of their US portfolio. Philadelphia Tru, a Pennsylvania-based fund reported 307,185 shares. Coastline holds 0.25% of its portfolio in Quest Diagnostics Inc (NYSE:DGX) for 14,970 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 5 selling transactions for $4.94 million net activity. Shares for $339,052 were sold by BRITELL JENNE K. $84,359 worth of Quest Diagnostics Inc (NYSE:DGX) was sold by ZIEGLER JOHN B on Monday, July 25. The insider PFEIFFER GARY M sold $3.63 million. Shares for $543,262 were sold by LEIDEN JEFFREY M on Wednesday, August 3.

Quest Diagnostics Inc (NYSE:DGX) Ratings Coverage

Out of 9 analysts covering Quest Diagnostics (NYSE:DGX), 2 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 22% are positive. Quest Diagnostics has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Zacks upgraded Quest Diagnostics Inc (NYSE:DGX) on Tuesday, August 18 to “Hold” rating. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, January 29. The stock of Quest Diagnostics Inc (NYSE:DGX) has “Neutral” rating given on Wednesday, August 31 by Mizuho. Wells Fargo upgraded the stock to “Market Perform” rating in Friday, October 16 report. The company was maintained on Friday, October 21 by Mizuho. The company was downgraded on Friday, June 24 by Jyske Bank. UBS upgraded Quest Diagnostics Inc (NYSE:DGX) rating on Monday, November 14. UBS has “Buy” rating and $90 price target. The rating was maintained by Mizuho on Thursday, October 22 with “Neutral”. The firm has “Neutral” rating by Citigroup given on Friday, September 9. The company was maintained on Friday, October 23 by RBC Capital Markets.

DGX Company Profile

Quest Diagnostics Incorporated, incorporated on September 20, 1996, is a well-known provider of diagnostic information services. The Firm operates through two businesses: Diagnostic Information Services and Diagnostic Solutions.

Another recent and important Quest Diagnostics Inc (NYSE:DGX) news was published by Wsj.com which published an article titled: “UnitedHealth’s Optum Unit to Oversee Quest Diagnostics’ Billing Processes” on September 13, 2016.

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By Peter Erickson

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