Quest Diagnostics Incorporated (NYSE:DGX) shares sold by Cerity Partners LLC
Cerity Partners LLC reduced its stake in Quest Diagnostics Incorporated (NYSE: DGX – Get Rating) by 27.6% during the 1st quarter, reports HoldingsChannel.com. The company held 1,938 shares of the medical research company after selling 738 shares during the quarter. Cerity Partners LLC’s holdings in Quest Diagnostics were worth $265,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also changed their positions in DGX. Mystic Asset Management Inc. acquired a new position in Quest Diagnostics stock in Q4 worth approximately $25,000. Wagner Wealth Management LLC acquired a new position in Quest Diagnostics stock in Q4 worth approximately $35,000. Anfield Capital Management LLC increased its holdings of Quest Diagnostics shares by 1,077.8% in the fourth quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company worth $37,000 after purchasing an additional 194 shares during the period. Comprehensive Financial Consultants Institutional Inc. acquired a new stock position in Quest Diagnostics in the fourth quarter worth approximately $38,000. Finally, NuWave Investment Management LLC acquired a new position in Quest Diagnostics stock in the first quarter worth approximately $40,000. 89.89% of the shares are currently held by institutional investors.
Several brokerages have commented on DGX. Wells Fargo & Company raised its price target on Quest Diagnostics stock from $145.00 to $150.00 and gave the stock an “equal weight” rating in a Monday, April 25 report. Citigroup cut Quest Diagnostics shares from a “buy” rating to a “neutral” rating and lowered its target price for the stock from $175.00 to $140.00 in a Monday, April 4, report. UBS Group raised its price target on Quest Diagnostics shares from $139.00 to $150.00 in a report on Sunday, April 24. Bank of America lowered its price target on Quest Diagnostics shares from $166.00 to $163.00 and set a “buy” rating for the company in a Friday, April 22 report. Finally, StockNews.com upgraded Quest Diagnostics shares from a “hold” rating to a “buy” rating in a Thursday, July 7 report. Seven equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, Quest Diagnostics currently has an average rating of “Hold” and an average target price of $150.33.
NYSE DGX opened at $133.09 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.46 and a debt ratio of 0.62. The stock has a market capitalization of $15.62 billion, a PE ratio of 8.86 and a beta of 1.03. The company has a 50-day moving average price of $136.15 and a two-hundred-day moving average price of $138.83. Quest Diagnostics Incorporated has a 12 month minimum of $125.33 and a 12 month maximum of $174.16.
Quest Diagnostics (NYSE:DGX – Get Rating) last released its results on Thursday, April 21. The medical research company reported earnings per share (EPS) of $3.22 for the quarter, beating analyst consensus estimates of $2.91 by $0.31. The company posted revenue of $2.61 billion in the quarter, versus $2.64 billion expected by analysts. Quest Diagnostics had a net margin of 17.61% and a return on equity of 27.08%. The company’s revenue decreased by 4.0% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $3.76. As a group, equity analysts expect Quest Diagnostics Incorporated to post EPS of 9.32 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 20. Shareholders of record on Wednesday, July 6 will receive a dividend of $0.66. This represents a dividend of $2.64 on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, July 5. Quest Diagnostics’ dividend payout ratio is 17.58%.
In other news, Director Timothy M. Ring sold 2,000 shares of Quest Diagnostics in a trade that took place Friday, July 1. The shares were sold at an average price of $133.47, for a total value of $266,940.00. Following the transaction, the administrator now owns 23,933 shares of the company, valued at $3,194,337.51. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, CEO Stephen H. Rusckowski sold 282,408 shares of Quest Diagnostics in a trade that took place on Tuesday, May 24. The shares were sold at an average price of $140.12, for a total transaction of $39,571,008.96. Following completion of the transaction, the CEO now directly owns 334,833 shares of the company, valued at approximately $46,916,799.96. The disclosure of this sale can be found here. In the past three months, insiders have sold 335,012 shares of the company worth $46,920,991. Insiders hold 1.70% of the shares of the company.
About Quest Diagnostics (Get an assessment)
Quest Diagnostics Incorporated provides diagnostic testing, information, and service in the United States and around the world. The Company develops and provides diagnostic information services, such as routine testing, non-routine and advanced clinical testing, pathology testing and other diagnostic information services.
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