27,681 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Bought by WBI Investments LLC

WBI Investments LLC bought a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,681 shares of the medical research company's stock, valued at approximately $4,176,000. Quest Diagnostics comprises 1.0% of WBI Investments LLC's investment portfolio, making the stock its 15th largest holding.

Other institutional investors have also recently bought and sold shares of the company. BankPlus Wealth Management LLC purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at $355,000. Van ECK Associates Corp increased its position in Quest Diagnostics by 980.3% in the 4th quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company's stock worth $3,650,000 after buying an additional 21,958 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Quest Diagnostics during the fourth quarter valued at about $54,000. SVB Wealth LLC bought a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $10,345,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its holdings in Quest Diagnostics by 12.0% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 144,773 shares of the medical research company's stock valued at $21,852,000 after buying an additional 15,475 shares during the period. Hedge funds and other institutional investors own 88.06% of the company's stock.

Insider Buying and Selling

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the transaction, the chief executive officer now owns 127,623 shares in the company, valued at approximately $21,499,370.58. The trade was a 23.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 604 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total value of $103,277.96. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,124 shares of company stock valued at $9,341,875 over the last quarter. Insiders own 8.16% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DGX. StockNews.com cut Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Mizuho boosted their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. upped their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Evercore ISI increased their price target on shares of Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a research report on Wednesday, April 23rd. Finally, Barclays upped their price objective on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Quest Diagnostics has an average rating of "Moderate Buy" and a consensus price target of $185.73.

Quest Diagnostics Stock Up 0.8%

Quest Diagnostics stock opened at $177.88 on Monday. Quest Diagnostics Incorporated has a twelve month low of $135.47 and a twelve month high of $179.32. The stock has a market cap of $19.86 billion, a P/E ratio of 23.13, a P/E/G ratio of 2.16 and a beta of 0.52. The company's 50-day moving average price is $170.04 and its two-hundred day moving average price is $163.66. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. As a group, analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.80%. Quest Diagnostics's payout ratio is 40.46%.

Quest Diagnostics Company Profile

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.

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