Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 25.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,286 shares of the medical research company's stock after buying an additional 3,330 shares during the period. Johnson Investment Counsel Inc.'s holdings in Quest Diagnostics were worth $2,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of DGX. Bruce G. Allen Investments LLC increased its position in shares of Quest Diagnostics by 57.8% in the 1st 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 during the last quarter. NBC Securities Inc. acquired a new stake in Quest Diagnostics in the first quarter valued at $35,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics during the 4th quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new position in Quest Diagnostics in the fourth quarter valued at approximately $54,000. Finally, Sandy Spring Bank raised its stake in Quest Diagnostics by 142.5% during the 4th quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock worth $73,000 after acquiring an additional 285 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Wall Street Zen downgraded shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. JPMorgan Chase & Co. raised their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Mizuho boosted their target price on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Redburn Atlantic began coverage on Quest Diagnostics in a research report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $185.73.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 8,372 shares in the company, valued at $1,471,127.84. This represents a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the sale, the chief executive officer now owns 127,623 shares in the company, valued at $21,499,370.58. This represents a 23.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,620 shares of company stock worth $7,190,045. 8.16% of the stock is owned by insiders.

Quest Diagnostics Trading Up 0.2%

NYSE:DGX traded up $0.31 during mid-day trading on Monday, reaching $179.74. The company's stock had a trading volume of 1,201,925 shares, compared to its average volume of 992,562. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.44 and a quick ratio of 1.31. The stock has a market cap of $20.07 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.50 and a beta of 0.49. The company's fifty day simple moving average is $174.45 and its two-hundred day simple moving average is $166.35. Quest Diagnostics Incorporated has a twelve month low of $135.47 and a twelve month high of $182.38.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. On average, equities analysts predict 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 given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is currently 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.