Cerity Partners LLC Increases Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Cerity Partners LLC boosted its position in shares of Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 15.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,246 shares of the medical research company’s stock after acquiring an additional 308 shares during the quarter. Cerity Partners LLC’s holdings in Quest Diagnostics were worth $299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Quest Diagnostics by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after buying an additional 636,301 shares during the period. BlackRock Inc. boosted its stake in shares of Quest Diagnostics by 10.1% in the 1st quarter. BlackRock Inc. now owns 12,807,624 shares of the medical research company’s stock valued at $1,752,852,000 after buying an additional 1,171,242 shares during the period. Bank of America Corp DE boosted its stake in shares of Quest Diagnostics by 12.4% in the 1st quarter. Bank of America Corp DE now owns 3,628,272 shares of the medical research company’s stock valued at $496,566,000 after buying an additional 398,924 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Quest Diagnostics by 4.3% in the 2nd quarter. Victory Capital Management Inc. now owns 3,012,557 shares of the medical research company’s stock valued at $400,610,000 after buying an additional 124,942 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Quest Diagnostics by 33.7% in the 1st quarter. American Century Companies Inc. now owns 2,634,641 shares of the medical research company’s stock valued at $360,577,000 after buying an additional 664,574 shares during the period. 88.87% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Trading Up 0.3 %

NYSE:DGX opened at $146.42 on Monday. The firm has a market cap of $16.68 billion, a P/E ratio of 14.40 and a beta of 1.02. The company has a current ratio of 1.46, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $133.69 and its 200-day simple moving average is $134.50. Quest Diagnostics Incorporated has a 12-month low of $120.40 and a 12-month high of $174.16.

Quest Diagnostics (NYSE:DGXGet Rating) last released its earnings results on Thursday, October 20th. The medical research company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.17. Quest Diagnostics had a return on equity of 21.36% and a net margin of 12.00%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts anticipate that Quest Diagnostics Incorporated will post 9.85 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Wednesday, January 18th will be paid a $0.66 dividend. The ex-dividend date is Tuesday, January 17th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.80%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 25.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DGX shares. Citigroup cut Quest Diagnostics from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $145.00 to $125.00 in a research note on Thursday. Morgan Stanley boosted their target price on Quest Diagnostics from $142.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Friday, October 21st. William Blair reaffirmed an “outperform” rating on shares of Quest Diagnostics in a research report on Thursday, October 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Quest Diagnostics from $129.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, October 21st. Finally, StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $148.50.

Insider Activity at Quest Diagnostics

In related news, Director Timothy M. Ring sold 2,000 shares of Quest Diagnostics stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $123.39, for a total value of $246,780.00. Following the sale, the director now directly owns 23,933 shares in the company, valued at $2,953,092.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $123.39, for a total transaction of $246,780.00. Following the sale, the director now directly owns 23,933 shares in the company, valued at $2,953,092.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael J. Deppe sold 15,497 shares of the business’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $145.00, for a total value of $2,247,065.00. Following the sale, the chief accounting officer now owns 32,013 shares in the company, valued at $4,641,885. The disclosure for this sale can be found here. Insiders have sold a total of 19,497 shares of company stock worth $2,781,965 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

About Quest Diagnostics

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Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, 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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