Axxcess Wealth Management LLC Lowers Position in Quest Diagnostics Incorporated (NYSE:DGX)

Axxcess Wealth Management LLC reduced its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 26.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,279 shares of the medical research company's stock after selling 1,539 shares during the period. Axxcess Wealth Management LLC's holdings in Quest Diagnostics were worth $724,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in Quest Diagnostics by 76.6% during the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after acquiring an additional 82 shares during the period. Janney Montgomery Scott LLC lifted its position in Quest Diagnostics by 9.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock valued at $3,047,000 after acquiring an additional 1,566 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Quest Diagnostics by 10.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company's stock valued at $2,439,000 after acquiring an additional 1,348 shares during the period. Perigon Wealth Management LLC purchased a new position in Quest Diagnostics during the 1st quarter valued at about $221,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Quest Diagnostics by 23.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,908 shares of the medical research company's stock valued at $1,507,000 after acquiring an additional 1,693 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Performance

Shares of DGX stock traded down $3.45 on Friday, reaching $168.00. The stock had a trading volume of 1,335,607 shares, compared to its average volume of 994,849. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. Quest Diagnostics Incorporated has a 1 year low of $137.71 and a 1 year high of $182.38. The stock has a market cap of $18.76 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.39 and a beta of 0.49. The company has a 50 day simple moving average of $175.88 and a 200 day simple moving average of $168.43.

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

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's payout ratio is 40.46%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DGX shares. Robert W. Baird lifted their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Truist Financial lifted their target price on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the stock in a transaction that occurred on 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 trade represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.16% of the company's stock.

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.