Boston Private Wealth LLC Has $907,000 Stock Position in Quest Diagnostics Inc (NYSE:DGX)

Boston Private Wealth LLC trimmed its position in Quest Diagnostics Inc (NYSE:DGX) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,471 shares of the medical research company’s stock after selling 2,032 shares during the quarter. Boston Private Wealth LLC’s holdings in Quest Diagnostics were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of DGX. Thoroughbred Financial Services LLC lifted its stake in shares of Quest Diagnostics by 10,065.6% in the second quarter. Thoroughbred Financial Services LLC now owns 1,664,620 shares of the medical research company’s stock worth $166,462,000 after buying an additional 1,648,245 shares during the last quarter. Boston Partners lifted its stake in shares of Quest Diagnostics by 24.1% in the second quarter. Boston Partners now owns 3,763,778 shares of the medical research company’s stock worth $383,167,000 after buying an additional 729,863 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in shares of Quest Diagnostics by 754.1% in the second quarter. Balyasny Asset Management LLC now owns 646,737 shares of the medical research company’s stock worth $65,844,000 after buying an additional 571,015 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in shares of Quest Diagnostics by 33.7% in the second quarter. Marshall Wace North America L.P. now owns 1,780,582 shares of the medical research company’s stock worth $181,281,000 after buying an additional 448,332 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Quest Diagnostics by 10,690.1% in the second quarter. Nuveen Asset Management LLC now owns 422,649 shares of the medical research company’s stock worth $43,030,000 after buying an additional 418,732 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

A number of analysts have recently weighed in on DGX shares. Zacks Investment Research upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price objective for the company in a research note on Monday, September 30th. Canaccord Genuity restated a “buy” rating and issued a $113.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, October 23rd. Credit Suisse Group boosted their price objective on shares of Quest Diagnostics from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Goldman Sachs Group cut shares of Quest Diagnostics from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $90.00 to $85.00 in a research note on Monday, July 15th. Finally, Morgan Stanley boosted their target price on shares of Quest Diagnostics from $111.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Quest Diagnostics presently has an average rating of “Hold” and an average price target of $105.27.

Shares of DGX stock opened at $101.57 on Friday. Quest Diagnostics Inc has a 1 year low of $78.95 and a 1 year high of $107.97. The firm’s fifty day simple moving average is $103.53 and its 200 day simple moving average is $101.01. The firm has a market capitalization of $13.58 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 22nd. The medical research company reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.05. Quest Diagnostics had a net margin of 9.58% and a return on equity of 15.32%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. Quest Diagnostics’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Quest Diagnostics Inc will post 6.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Thursday, October 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is currently 33.60%.

In related news, CAO Michael J. Deppe sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the transaction, the chief accounting officer now owns 28,671 shares of the company’s stock, valued at $3,039,126. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.86% of the company’s stock.

Quest Diagnostics Profile

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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