Wambolt & Associates LLC Cuts Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Wambolt & Associates LLC lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 15.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,690 shares of the medical research company’s stock after selling 1,577 shares during the period. Wambolt & Associates LLC’s holdings in Quest Diagnostics were worth $1,311,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DGX. Thrivent Financial for Lutherans raised its stake in Quest Diagnostics by 98.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,967 shares of the medical research company’s stock valued at $2,945,000 after purchasing an additional 9,396 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Quest Diagnostics by 1.8% in 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 acquiring an additional 12,565 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Quest Diagnostics in the 3rd quarter worth $2,292,000. Raymond James Trust N.A. boosted its holdings in shares of Quest Diagnostics by 3.5% during the 3rd quarter. Raymond James Trust N.A. now owns 2,572 shares of the medical research company’s stock valued at $399,000 after purchasing an additional 88 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Quest Diagnostics by 13.2% during the third quarter. Citigroup Inc. now owns 126,179 shares of the medical research company’s stock valued at $19,589,000 after purchasing an additional 14,695 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

Shares of DGX opened at $167.35 on Tuesday. The stock has a 50-day moving average of $165.45 and a two-hundred day moving average of $158.73. 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 stock has a market cap of $18.57 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a one year low of $125.42 and a one year high of $178.87.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating 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, research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is presently 41.61%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America lifted their price objective on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group restated a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Citigroup lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research note on Tuesday, March 4th. Finally, Robert W. Baird raised their target price on shares of Quest Diagnostics from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $178.38.

Insiders Place Their Bets

In related news, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 604 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $170.99, for a total transaction of $103,277.96. Following the sale, the senior vice president now directly owns 39,845 shares of the company’s stock, valued at $6,813,096.55. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,157 shares of company stock worth $2,423,755. Company insiders own 0.79% of the company’s stock.

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.