Van ECK Associates Corp Sells 6,695 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Van ECK Associates Corp cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 25.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,011 shares of the medical research company’s stock after selling 6,695 shares during the quarter. Van ECK Associates Corp’s holdings in Quest Diagnostics were worth $2,455,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC grew its stake in Quest Diagnostics by 515.2% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 16,013 shares of the medical research company’s stock valued at $2,129,000 after buying an additional 13,410 shares in the last quarter. Kentucky Retirement Systems grew its position in shares of Quest Diagnostics by 14.8% in the second quarter. Kentucky Retirement Systems now owns 8,711 shares of the medical research company’s stock valued at $1,158,000 after purchasing an additional 1,126 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Quest Diagnostics by 14.1% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,010 shares of the medical research company’s stock valued at $533,000 after purchasing an additional 497 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Quest Diagnostics by 71.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,797 shares of the medical research company’s stock worth $771,000 after purchasing an additional 2,423 shares in the last quarter. Finally, Todd Asset Management LLC bought a new position in Quest Diagnostics in the 2nd quarter worth about $20,978,000. Institutional investors own 88.79% of the company’s stock.

Insider Buying and Selling

In other Quest Diagnostics news, Director Timothy M. Ring sold 2,025 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $152.50, for a total value of $308,812.50. Following the completion of the sale, the director now owns 24,149 shares in the company, valued at $3,682,722.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quest Diagnostics news, CAO Michael J. Deppe sold 15,497 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were 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 of the company’s stock, valued at approximately $4,641,885. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy M. Ring sold 2,025 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $152.50, for a total transaction of $308,812.50. Following the completion of the transaction, the director now owns 24,149 shares in the company, valued at approximately $3,682,722.50. The disclosure for this sale can be found here. Insiders have sold a total of 60,287 shares of company stock worth $8,925,320 in the last ninety days. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DGX. Morgan Stanley raised their price objective on shares of Quest Diagnostics from $146.00 to $158.00 and gave the company an “equal weight” rating in a research report on Friday, January 6th. Mizuho boosted their price target on shares of Quest Diagnostics from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, December 14th. Robert W. Baird increased their price objective on Quest Diagnostics from $143.00 to $154.00 and gave the stock a “neutral” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Quest Diagnostics from $129.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, October 21st. Finally, Citigroup downgraded Quest Diagnostics from a “neutral” rating to a “sell” rating and dropped their price target for the company from $145.00 to $125.00 in a research report on Thursday, November 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $150.00.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $147.94 on Friday. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 14.55 and a beta of 0.98. The business has a 50 day moving average of $151.02 and a 200 day moving average of $138.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.46 and a quick ratio of 1.34. Quest Diagnostics Incorporated has a 1-year low of $120.40 and a 1-year high of $158.34.

Quest Diagnostics (NYSE:DGXGet Rating) last released its earnings results on Thursday, October 20th. The medical research company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.17 by $0.19. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.34 billion. Quest Diagnostics had a net margin of 12.00% and a return on equity of 21.36%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 EPS. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.85 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Wednesday, January 18th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, January 17th. Quest Diagnostics’s dividend payout ratio is presently 25.96%.

Quest Diagnostics Company Profile

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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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