Advisors Asset Management Inc. Decreases Position in Quest Diagnostics Incorporated (NYSE:DGX)

Advisors Asset Management Inc. cut its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,252 shares of the medical research company's stock after selling 6,718 shares during the quarter. Advisors Asset Management Inc.'s holdings in Quest Diagnostics were worth $5,620,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OneDigital Investment Advisors LLC lifted its holdings in shares of Quest Diagnostics by 6.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,562 shares of the medical research company's stock valued at $553,000 after purchasing an additional 209 shares during the last quarter. Natixis Advisors LLC increased its position in Quest Diagnostics by 7.7% during the 3rd quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company's stock valued at $14,412,000 after buying an additional 6,619 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Quest Diagnostics by 98.2% in the third quarter. Thrivent Financial for Lutherans now owns 18,967 shares of the medical research company's stock valued at $2,945,000 after buying an additional 9,396 shares during the last quarter. Swiss National Bank boosted its holdings in Quest Diagnostics by 0.6% in the third quarter. Swiss National Bank now owns 329,800 shares of the medical research company's stock worth $51,201,000 after acquiring an additional 2,100 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Quest Diagnostics during the third quarter worth about $1,022,000. 88.06% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Mizuho raised their price target on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Bank of America raised their target price on Quest Diagnostics from $179.00 to $182.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. UBS Group upped their target price on Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Barclays boosted their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Finally, Robert W. Baird increased their price target on Quest Diagnostics from $190.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.38.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock traded up $0.24 on Monday, hitting $167.35. 670,768 shares of the company were exchanged, compared to its average volume of 877,391. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $165.18 and a 200 day moving average price of $158.64. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a 1-year low of $125.42 and a 1-year high of $178.87.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. As a group, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.91%. Quest Diagnostics's payout ratio is 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 5,370 shares of Quest Diagnostics stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total value of $935,078.10. Following the completion of the transaction, the executive vice president now owns 68,068 shares in the company, valued at approximately $11,852,680.84. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the sale, the director now owns 16,867 shares in the company, valued at $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,157 shares of company stock worth $2,423,755 in the last ninety days. 0.79% of the stock is owned by insiders.

Quest Diagnostics Company Profile

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.