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Arrowstreet Capital had $30 million invested in the company at the end of the quarter.
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Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, created the biggest position in Quest Diagnostics Incorporated (NYSE:DGX). Now, key money managers were breaking ground themselves. Clough Capital Partners is also relatively very bullish on the stock, designating 2.05 percent of its 13F equity portfolio to DGX. In terms of the portfolio weights assigned to each position Tamarack Capital Management allocated the biggest weight to Quest Diagnostics Incorporated (NYSE:DGX), around 4.13% of its 13F portfolio. Two Sigma Advisors, Polaris Capital Management, and Millennium Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. On the second spot was AQR Capital Management which amassed $68.6 million worth of shares. So, let’s review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.Īmong these funds, Renaissance Technologies held the most valuable stake in Quest Diagnostics Incorporated (NYSE:DGX), which was worth $74.2 million at the end of the fourth quarter.
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Below, you can check out the change in hedge fund sentiment towards DGX over the last 22 quarters. Heading into the first quarter of 2021, a total of 45 of the hedge funds tracked by Insider Monkey were long this stock, a change of 7% from one quarter earlier. Do Hedge Funds Think DGX Is A Good Stock To Buy Now?
#QUEST DIAGNOSTICS STOCK FREE#
You can subscribe to our free daily newsletter on our homepage (or at the end of this article). Keeping this in mind we’re going to go over the fresh hedge fund action surrounding Quest Diagnostics Incorporated (NYSE: DGX). We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We go through lists like the 10 best biotech stocks to invest in to pick the next stock that will deliver a 10x return. So, we are checking out this psychedelic drug stock idea right now. Recently Oregon became the first state to legalize psychedelic mushrooms which are shown to have promising results in treating depression, addiction, and PTSD in early stage academic studies. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.Īt Insider Monkey we leave no stone unturned when looking for the next great investment idea. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 17th. We were also able to identify in advance a select group of hedge fund holdings that’ll significantly underperform the market. Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 124 percentage points since March 2017 ( see the details here). Our calculations also showed that DGX isn’t among the 30 most popular stocks among hedge funds (click for Q4 rankings). The all time high for this statistic is 46. Quest Diagnostics Incorporated (NYSE: DGX) was in 45 hedge funds’ portfolios at the end of December. The number of bullish hedge fund bets went up by 3 lately. Is Quest Diagnostics ( DGX) stock a buy or sell? The smart money was getting more optimistic.