Dimensional Fund Advisors LP Cuts Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Dimensional Fund Advisors LP decreased its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,041,465 shares of the medical research company's stock after selling 5,156 shares during the period. Dimensional Fund Advisors LP owned about 1.83% of Quest Diagnostics worth $307,978,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DGX. Sierra Ocean LLC purchased a new stake in shares of Quest Diagnostics during the fourth quarter worth approximately $33,000. First Financial Corp IN acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth about $38,000. Versant Capital Management Inc lifted its holdings in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock worth $38,000 after acquiring an additional 194 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of Quest Diagnostics during the fourth quarter worth $45,000. Finally, Global Trust Asset Management LLC acquired a new position in Quest Diagnostics in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now owns 4,624 shares of the company's stock, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO J. E. Davis sold 39,191 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now owns 127,623 shares in the company, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,903 shares of company stock valued at $9,460,221 over the last quarter. Corporate insiders own 8.16% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DGX shares. Barclays raised their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday. Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price on the stock. Redburn Partners set a $195.00 price objective on Quest Diagnostics in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, Mizuho upped their price objective on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Quest Diagnostics has a consensus rating of "Moderate Buy" and an average price target of $183.73.

Quest Diagnostics Stock Down 1.2 %

Shares of NYSE DGX traded down $2.12 during mid-day trading on Friday, reaching $173.75. The company had a trading volume of 1,033,362 shares, compared to its average volume of 964,081. Quest Diagnostics Incorporated has a 12-month low of $134.05 and a 12-month high of $178.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.16 and a beta of 0.78. The stock has a fifty day moving average of $168.88 and a two-hundred day moving average of $160.81.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.84%. The ex-dividend date was Monday, April 7th. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's payout ratio is 40.46%.

Quest Diagnostics 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.