Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 32.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,529 shares of the medical research company's stock after selling 6,391 shares during the period. Empowered Funds LLC's holdings in Quest Diagnostics were worth $2,041,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Landscape Capital Management L.L.C. acquired a new position in shares of Quest Diagnostics during the third quarter worth $1,363,000. Sanctuary Advisors LLC grew its holdings in shares of Quest Diagnostics by 85.5% during the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company's stock valued at $2,940,000 after buying an additional 8,282 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Quest Diagnostics by 7.7% during the third 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 during the last quarter. BankPlus Wealth Management LLC purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at $355,000. Finally, Icon Wealth Advisors LLC grew its holdings in shares of Quest Diagnostics by 8,669.8% during the third quarter. Icon Wealth Advisors LLC now owns 62,178 shares of the medical research company's stock valued at $9,653,000 after buying an additional 61,469 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DGX. JPMorgan Chase & Co. boosted their price objective 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. UBS Group boosted their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. Citigroup upped their price target on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $177.69.

Quest Diagnostics Price Performance

Shares of DGX traded up $0.12 during mid-day trading on Tuesday, hitting $168.89. 296,896 shares of the company were exchanged, compared to its average volume of 1,004,015. Quest Diagnostics Incorporated has a 1-year low of $123.30 and a 1-year high of $171.30. 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 50 day moving average of $156.35 and a 200-day moving average of $155.31. The stock has a market cap of $18.85 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91.

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

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.80 dividend. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. Quest Diagnostics's dividend payout ratio is presently 39.01%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the sale, the director now owns 16,867 shares in the company, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company's stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. 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.