Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Sequent Asset Management LLC

Sequent Asset Management LLC reduced its position in Quest Diagnostics Incorporated (NYSE:DGX) by 40.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,942 shares of the medical research company’s stock after selling 2,000 shares during the period. Sequent Asset Management LLC’s holdings in Quest Diagnostics were worth $406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DGX. JPMorgan Chase & Co. grew its position in shares of Quest Diagnostics by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock valued at $243,884,000 after purchasing an additional 538,377 shares during the last quarter. American Century Companies Inc. increased its position in Quest Diagnostics by 12.3% during the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock worth $433,153,000 after buying an additional 388,162 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Quest Diagnostics by 14.6% in the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after acquiring an additional 333,947 shares during the last quarter. Pathstone Family Office LLC lifted its position in shares of Quest Diagnostics by 2,400.9% in the third quarter. Pathstone Family Office LLC now owns 336,521 shares of the medical research company’s stock valued at $41,008,000 after acquiring an additional 323,065 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Quest Diagnostics during the fourth quarter valued at $30,869,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DGX. SVB Leerink started coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price on the stock. Leerink Partnrs reaffirmed a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Barclays increased their price target on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Mizuho lifted their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $146.17.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the transaction, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the sale, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the transaction, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The disclosure for this sale can be found here. In the last three months, insiders sold 15,150 shares of company stock valued at $1,913,202. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Down 0.9 %

NYSE:DGX traded down $1.32 during mid-day trading on Tuesday, hitting $138.18. The company had a trading volume of 1,067,313 shares, compared to its average volume of 1,078,991. The business has a fifty day simple moving average of $129.69 and a 200-day simple moving average of $131.53. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.92 and a beta of 0.91. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $145.58. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.86 by $0.18. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $2.04 EPS. Equities analysts forecast that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.75 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, April 5th. Quest Diagnostics’s payout ratio is presently 38.22%.

About Quest Diagnostics

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