JGP Wealth Management LLC Sells 16,840 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

JGP Wealth Management LLC lessened its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 16.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,017 shares of the medical research company's stock after selling 16,840 shares during the quarter. Quest Diagnostics accounts for about 1.8% of JGP Wealth Management LLC's investment portfolio, making the stock its 12th biggest holding. JGP Wealth Management LLC owned about 0.07% of Quest Diagnostics worth $14,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. raised its position in Quest Diagnostics by 1.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company's stock worth $580,000 after acquiring an additional 60 shares in the last quarter. Net Worth Advisory Group increased its position in Quest Diagnostics by 1.0% during the fourth quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company's stock worth $980,000 after acquiring an additional 62 shares during the period. Bessemer Group Inc. increased its position in Quest Diagnostics by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company's stock worth $3,140,000 after acquiring an additional 65 shares during the period. Mather Group LLC. increased its position in Quest Diagnostics by 10.4% during the fourth quarter. Mather Group LLC. now owns 764 shares of the medical research company's stock worth $115,000 after acquiring an additional 72 shares during the period. Finally, Private Trust Co. NA grew its stake in Quest Diagnostics by 7.7% during the fourth quarter. Private Trust Co. NA now owns 1,053 shares of the medical research company's stock worth $159,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 2,555 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total value of $434,350.00. Following the transaction, the senior vice president now directly owns 10,575 shares in the company, valued at approximately $1,797,750. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J. E. Davis sold 39,191 shares of the company's stock in a transaction that occurred on 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. This trade represents a 23.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,263 shares of company stock valued at $7,979,355 over the last three months. 8.16% of the stock is currently owned by insiders.

Quest Diagnostics Stock Up 0.4%

Shares of NYSE DGX traded up $0.74 during trading on Thursday, hitting $174.55. The stock had a trading volume of 170,282 shares, compared to its average volume of 985,609. The firm has a fifty day moving average of $171.34 and a two-hundred day moving average of $164.96. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The company has a market capitalization of $19.49 billion, a PE ratio of 22.70, a PEG ratio of 2.16 and a beta of 0.52. Quest Diagnostics Incorporated has a 12 month low of $135.47 and a 12 month high of $179.99.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, 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 will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is presently 40.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. Robert W. Baird lifted their target price on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Redburn Partners set a $195.00 price target on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Barclays lifted 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 note on Wednesday, April 23rd. Finally, Mizuho lifted their price objective on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus price target 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.