Sequoia Financial Advisors LLC Buys New Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sequoia Financial Advisors LLC purchased a new position in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 17,704 shares of the medical research company’s stock, valued at approximately $2,441,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bleakley Financial Group LLC lifted its holdings in Quest Diagnostics by 13.2% during the 4th quarter. Bleakley Financial Group LLC now owns 2,091 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 244 shares during the last quarter. Cambiar Investors LLC increased its position in shares of Quest Diagnostics by 4.7% in the fourth quarter. Cambiar Investors LLC now owns 79,174 shares of the medical research company’s stock worth $10,917,000 after purchasing an additional 3,561 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Quest Diagnostics by 47.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,481 shares of the medical research company’s stock worth $342,000 after purchasing an additional 798 shares during the period. Alpine Woods Capital Investors LLC raised its stake in Quest Diagnostics by 2.1% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 30,442 shares of the medical research company’s stock valued at $4,197,000 after purchasing an additional 633 shares in the last quarter. Finally, Clean Yield Group lifted its position in Quest Diagnostics by 3.1% during the fourth quarter. Clean Yield Group now owns 15,801 shares of the medical research company’s stock worth $2,179,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX opened at $130.02 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $14.44 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91. The firm’s fifty day simple moving average is $128.06 and its two-hundred day simple moving average is $130.58. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $148.62.

Quest Diagnostics (NYSE:DGXGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 earnings per share. As a group, analysts predict that Quest Diagnostics Incorporated will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a yield of 2.31%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is 37.92%.

Insider Transactions at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Vicky B. Gregg sold 2,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the sale, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. Insiders have sold 15,150 shares of company stock valued at $1,913,202 in the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DGX. SVB Leerink began coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 price objective on the stock. TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Barclays assumed coverage on shares of Quest Diagnostics in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price target for the company. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Finally, StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Quest Diagnostics presently has an average rating of “Hold” and a consensus target price of $144.18.

Read Our Latest Stock Report on Quest Diagnostics

About Quest Diagnostics

(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.

See Also

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

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