Sigma Planning Corp Trims Stock Position in Quest Diagnostics Inc (NYSE:DGX)

Sigma Planning Corp lessened its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,010 shares of the medical research company’s stock after selling 167 shares during the quarter. Sigma Planning Corp’s holdings in Quest Diagnostics were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DGX. Kavar Capital Partners LLC grew its stake in shares of Quest Diagnostics by 5.2% during the second quarter. Kavar Capital Partners LLC now owns 22,400 shares of the medical research company’s stock worth $2,281,000 after purchasing an additional 1,100 shares in the last quarter. Miller Investment Management LP grew its stake in shares of Quest Diagnostics by 169.1% during the second quarter. Miller Investment Management LP now owns 18,380 shares of the medical research company’s stock worth $1,871,000 after purchasing an additional 11,551 shares in the last quarter. Silver Lake Advisory LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth $218,000. Advisory Services Network LLC grew its stake in shares of Quest Diagnostics by 54.5% during the second quarter. Advisory Services Network LLC now owns 544 shares of the medical research company’s stock worth $55,000 after purchasing an additional 192 shares in the last quarter. Finally, Scott & Selber Inc. acquired a new position in shares of Quest Diagnostics during the second quarter worth $2,389,000. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Chairman Stephen H. Rusckowski sold 244,565 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $100.00, for a total value of $24,456,500.00. Following the completion of the sale, the chairman now directly owns 457,614 shares of the company’s stock, valued at $45,761,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Guinan sold 73,005 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $7,300,500.00. Following the completion of the sale, the insider now directly owns 139,022 shares of the company’s stock, valued at $13,902,200. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.

NYSE DGX opened at $103.15 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.77. Quest Diagnostics Inc has a 1 year low of $78.95 and a 1 year high of $111.54. The company has a market capitalization of $13.75 billion, a PE ratio of 16.35, a P/E/G ratio of 2.07 and a beta of 0.88. The company has a fifty day moving average of $101.38 and a two-hundred day moving average of $95.03.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.04. Quest Diagnostics had a net margin of 9.64% and a return on equity of 15.05%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Quest Diagnostics’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, research analysts expect that Quest Diagnostics Inc will post 6.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a $0.53 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $2.12 annualized dividend and a yield of 2.06%. Quest Diagnostics’s dividend payout ratio is presently 33.60%.

A number of brokerages recently commented on DGX. Mizuho set a $110.00 target price on shares of Quest Diagnostics and gave the stock a “buy” rating in a research note on Monday, May 20th. Canaccord Genuity boosted their target price on shares of Quest Diagnostics from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group boosted their target price on shares of Quest Diagnostics from $91.00 to $99.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. ValuEngine upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Quest Diagnostics from $100.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $104.44.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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