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Quest Diagnostics Incorporated (NYSE:DGX) Stock Position Lessened by Holocene Advisors LP

Quest Diagnostics logo with Medical background

Holocene Advisors LP decreased its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 25.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,161 shares of the medical research company's stock after selling 3,450 shares during the period. Holocene Advisors LP's holdings in Quest Diagnostics were worth $1,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DGX. Davis Selected Advisers lifted its holdings in shares of Quest Diagnostics by 0.4% during the 2nd quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company's stock valued at $327,257,000 after acquiring an additional 9,665 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Quest Diagnostics by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company's stock worth $288,758,000 after purchasing an additional 129,395 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Quest Diagnostics by 2.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company's stock worth $115,621,000 after buying an additional 15,047 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company's stock valued at $116,018,000 after buying an additional 151,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Quest Diagnostics by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company's stock valued at $109,933,000 after buying an additional 12,565 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays increased their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 23rd. Mizuho raised their price target on shares of Quest Diagnostics from $160.00 to $174.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. UBS Group boosted their price objective on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Monday, November 18th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $164.58.

View Our Latest Stock Report on DGX

Quest Diagnostics Stock Performance

Shares of NYSE DGX traded down $1.17 during trading on Friday, reaching $157.35. The stock had a trading volume of 951,373 shares, compared to its average volume of 835,314. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. The stock has a market cap of $17.56 billion, a PE ratio of 21.15, a P/E/G ratio of 2.77 and a beta of 0.89. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $165.32. The firm's 50 day moving average price is $156.24 and its two-hundred day moving average price is $149.81.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm earned $2.22 earnings per share. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.91%. Quest Diagnostics's dividend payout ratio is currently 40.32%.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now directly owns 34,941 shares of the company's stock, valued at $5,382,661.05. The trade was a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Quest Diagnostics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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