River Wealth Advisors LLC lowered its position in Quest Diagnostics Incorporated (NYSE:DGX) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,772 shares of the medical research company’s stock after selling 86 shares during the period. River Wealth Advisors LLC’s holdings in Quest Diagnostics were worth $272,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in DGX. YorkBridge Wealth Partners LLC increased its stake in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after buying an additional 18 shares during the last quarter. Leavell Investment Management Inc. increased its stake in shares of Quest Diagnostics by 0.5% in the first quarter. Leavell Investment Management Inc. now owns 7,891 shares of the medical research company’s stock valued at $775,000 after buying an additional 41 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Quest Diagnostics by 0.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,914 shares of the medical research company’s stock valued at $779,000 after buying an additional 42 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Quest Diagnostics by 2.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,697 shares of the medical research company’s stock valued at $339,000 after buying an additional 71 shares in the last quarter. Finally, Investment House LLC increased its stake in shares of Quest Diagnostics by 2.4% in the first quarter. Investment House LLC now owns 3,050 shares of the medical research company’s stock valued at $299,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 90.71% of the company’s stock.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) opened at 109.70 on Friday. Quest Diagnostics Incorporated has a 52 week low of $77.29 and a 52 week high of $110.28. The stock’s 50 day moving average price is $107.60 and its 200 day moving average price is $98.72. The firm has a market capitalization of $15.01 billion, a P/E ratio of 22.08 and a beta of 0.72.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, April 20th. The medical research company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.18 by $0.15. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a net margin of 9.34% and a return on equity of 15.22%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. On average, analysts predict that Quest Diagnostics Incorporated will post $5.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 24th. Investors of record on Monday, July 10th will be issued a $0.45 dividend. The ex-dividend date is Thursday, July 6th. This represents a $1.80 annualized dividend and a yield of 1.64%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
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DGX has been the subject of several recent research reports. Mizuho increased their price target on Quest Diagnostics from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Canaccord Genuity increased their price target on Quest Diagnostics from $102.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $115.00 price target (up from $108.00) on shares of Quest Diagnostics in a report on Sunday, April 23rd. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Wednesday, March 29th. Finally, ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Quest Diagnostics has an average rating of “Buy” and a consensus price target of $108.81.
In other news, Director Jenne K. Britell sold 6,111 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $104.03, for a total transaction of $635,727.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 29,513 shares of the business’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $100.00, for a total transaction of $2,951,300.00. Following the transaction, the senior vice president now owns 41,335 shares in the company, valued at approximately $4,133,500. The disclosure for this sale can be found here. Insiders sold a total of 95,386 shares of company stock worth $10,014,430 in the last quarter. Insiders own 1.50% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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