IFP Advisors Inc Has $2.36 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

IFP Advisors Inc lessened its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,442 shares of the medical research company's stock after selling 2,081 shares during the quarter. IFP Advisors Inc's holdings in Quest Diagnostics were worth $2,361,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC increased its position 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 worth $31,000 after buying an additional 67 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Quest Diagnostics by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after purchasing an additional 118 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Quest Diagnostics during the first quarter worth about $35,000. Finally, Continuum Advisory LLC grew its position in shares of Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

Analyst Ratings Changes

DGX has been the subject of a number of research reports. Barclays increased their price target on Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. Robert W. Baird raised their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Evercore ISI lifted their price target on Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Redburn Partners set a $195.00 price target on Quest Diagnostics in a research note on Wednesday, April 2nd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $185.69.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 874 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the transaction, the senior vice president directly owned 8,372 shares in the company, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.16% of the company's stock.

Quest Diagnostics Stock Performance

NYSE:DGX traded up $0.71 during midday trading on Thursday, reaching $171.19. The stock had a trading volume of 1,128,484 shares, compared to its average volume of 1,192,474. Quest Diagnostics Incorporated has a 1-year low of $140.71 and a 1-year high of $182.38. The firm's fifty day simple moving average is $174.79 and its 200-day simple moving average is $169.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 1.31. The stock has a market capitalization of $19.11 billion, a P/E ratio of 20.48, a PEG ratio of 2.49 and a beta of 0.49.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period last year, the firm posted $2.35 EPS. The firm's quarterly revenue was up 15.2% on a year-over-year basis. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, July 7th. Quest Diagnostics's dividend payout ratio is presently 40.46%.

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.