Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,700 shares of the medical research company's stock after selling 2,789 shares during the period. Manning & Napier Advisors LLC's holdings in Quest Diagnostics were worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DGX. Mizuho Securities USA LLC raised its position in shares of Quest Diagnostics by 5,168.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company's stock worth $70,080,000 after purchasing an additional 442,835 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Quest Diagnostics by 535.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company's stock worth $19,376,000 after buying an additional 108,224 shares in the last quarter. Barclays PLC raised its holdings in Quest Diagnostics by 35.9% in the 3rd quarter. Barclays PLC now owns 298,922 shares of the medical research company's stock valued at $46,407,000 after acquiring an additional 78,980 shares during the last quarter. Finally, State Street Corp lifted its stake in Quest Diagnostics by 1.4% in the 3rd quarter. State Street Corp now owns 5,263,231 shares of the medical research company's stock worth $817,117,000 after purchasing an additional 70,578 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Michael J. Deppe sold 18,755 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company's stock, valued at $5,382,661.05. This represents a 34.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

DGX has been the subject of a number of analyst reports. Morgan Stanley upgraded Quest Diagnostics from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $145.00 to $172.00 in a research report on Tuesday, December 17th. Robert W. Baird upgraded Quest Diagnostics from a "neutral" rating to an "outperform" rating and upped their target price for the company from $157.00 to $182.00 in a report on Wednesday, October 23rd. Baird R W upgraded Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an "equal weight" rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $172.15.

Quest Diagnostics Trading Up 7.1 %

Quest Diagnostics stock traded up $10.96 during midday trading on Thursday, reaching $166.40. 1,269,339 shares of the stock traded hands, compared to its average volume of 951,780. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The firm has a market cap of $18.57 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 2.36 and a beta of 0.90. The company has a 50-day simple moving average of $155.42 and a two-hundred day simple moving average of $153.43. Quest Diagnostics Incorporated has a 12-month low of $123.04 and a 12-month high of $167.08.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. Research analysts expect that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.92%. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's payout ratio is 40.32%.

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.