Investment House LLC Reduces Position in Quest Diagnostics Incorporated (NYSE:DGX)

Investment House LLC cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,952 shares of the medical research company’s stock after selling 207 shares during the period. Investment House LLC’s holdings in Quest Diagnostics were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its position in Quest Diagnostics by 3.0% in the third quarter. Exchange Traded Concepts LLC now owns 2,934 shares of the medical research company’s stock worth $336,000 after purchasing an additional 85 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Quest Diagnostics by 7.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,216 shares of the medical research company’s stock valued at $138,000 after buying an additional 88 shares in the last quarter. Intrua Financial LLC lifted its position in shares of Quest Diagnostics by 2.4% during the 3rd quarter. Intrua Financial LLC now owns 3,827 shares of the medical research company’s stock valued at $465,000 after buying an additional 90 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Quest Diagnostics by 0.3% during the 3rd quarter. State of Michigan Retirement System now owns 34,292 shares of the medical research company’s stock valued at $3,926,000 after buying an additional 100 shares in the last quarter. Finally, Scott & Selber Inc. lifted its position in shares of Quest Diagnostics by 0.5% during the 3rd quarter. Scott & Selber Inc. now owns 22,253 shares of the medical research company’s stock valued at $2,548,000 after buying an additional 114 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors.

In related news, CAO Michael J. Deppe sold 10,450 shares of the business’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $125.00, for a total transaction of $1,306,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,785 shares in the company, valued at approximately $3,723,125. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Stanzione sold 11,223 shares of the business’s stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $126.30, for a total value of $1,417,464.90. Following the transaction, the director now owns 33,951 shares of the company’s stock, valued at approximately $4,288,011.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 395,426 shares of company stock worth $47,604,325. Corporate insiders own 1.49% of the company’s stock.

NYSE DGX opened at $125.45 on Thursday. The company has a market cap of $16.91 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.42 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.40. The business’s 50 day moving average price is $122.27 and its 200-day moving average price is $119.90. Quest Diagnostics Incorporated has a fifty-two week low of $73.02 and a fifty-two week high of $131.81.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 22nd. The medical research company reported $4.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.75 by $0.56. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.71 billion. Quest Diagnostics had a return on equity of 19.23% and a net margin of 13.22%. The company’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 EPS. As a group, equities analysts predict that Quest Diagnostics Incorporated will post 10.97 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 3rd. Stockholders of record on Wednesday, January 20th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, January 19th. Quest Diagnostics’s dividend payout ratio is currently 34.15%.

DGX has been the topic of a number of analyst reports. Mizuho lifted their price objective on Quest Diagnostics from $144.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating and set a $130.00 target price on the stock in a research note on Tuesday, September 22nd. ValuEngine downgraded Quest Diagnostics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 11th. Morgan Stanley downgraded Quest Diagnostics from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 17th. Finally, Jefferies Financial Group lifted their target price on Quest Diagnostics from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $126.83.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information 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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