Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 84.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,852 shares of the medical research company's stock after selling 108,588 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Quest Diagnostics were worth $3,359,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in DGX. Bruce G. Allen Investments LLC boosted its holdings in Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $33,000. NBC Securities Inc. acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at $35,000. FPC Investment Advisory Inc. purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $45,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Quest Diagnostics during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Shares of DGX stock traded down $3.12 during trading hours on Tuesday, hitting $178.95. The company's stock had a trading volume of 871,876 shares, compared to its average volume of 990,224. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $173.21 and a 200-day moving average of $165.82. Quest Diagnostics Incorporated has a twelve month low of $135.47 and a twelve month high of $182.38. The stock has a market cap of $19.98 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.54 and a beta of 0.49.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. As a group, equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's payout ratio is 40.46%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,555 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $170.00, for a total transaction of $434,350.00. Following the transaction, the senior vice president now owns 10,575 shares of the company's stock, valued at $1,797,750. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Mark E. Delaney sold 874 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the sale, the senior vice president now owns 8,372 shares in the company, valued at $1,471,127.84. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,620 shares of company stock worth $7,190,045. Corporate insiders own 8.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on DGX shares. Robert W. Baird upped their price objective on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Redburn Atlantic initiated coverage on Quest Diagnostics in a research note on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price target on the stock. Mizuho boosted their price objective on Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Barclays increased their price objective on Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

Quest Diagnostics 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.