Rhumbline Advisers Buys 7,578 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Rhumbline Advisers grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,218 shares of the medical research company's stock after acquiring an additional 7,578 shares during the period. Rhumbline Advisers owned 0.26% of Quest Diagnostics worth $48,597,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. New Hampshire Trust grew its holdings in Quest Diagnostics by 2.5% during the 1st quarter. New Hampshire Trust now owns 3,582 shares of the medical research company's stock worth $606,000 after acquiring an additional 86 shares during the period. GAMMA Investing LLC grew its stake in shares of Quest Diagnostics by 23,296.2% in the 1st quarter. GAMMA Investing LLC now owns 444,996 shares of the medical research company's stock valued at $75,293,000 after buying an additional 443,094 shares during the period. First Hawaiian Bank acquired a new stake in shares of Quest Diagnostics in the 1st quarter valued at about $268,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Quest Diagnostics by 159.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,615 shares of the medical research company's stock valued at $4,166,000 after buying an additional 16,958 shares during the period. Finally, Siemens Fonds Invest GmbH grew its stake in shares of Quest Diagnostics by 625.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 27,640 shares of the medical research company's stock valued at $4,170,000 after buying an additional 23,832 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Down 0.1%

NYSE DGX traded down $0.17 during trading hours on Thursday, hitting $173.64. The company's stock had a trading volume of 602,782 shares, compared to its average volume of 987,289. Quest Diagnostics Incorporated has a 52 week low of $135.47 and a 52 week high of $179.99. The company has a market capitalization of $19.38 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.16 and a beta of 0.52. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The company's 50-day simple moving average is $171.34 and its two-hundred day simple moving average is $164.96.

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 for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.84%. Quest Diagnostics's payout ratio is presently 40.46%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DGX. Barclays raised their target price 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. Redburn Atlantic began coverage on Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 target price for the company. Evercore ISI raised their target price on Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. Mizuho raised their target price 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, Redburn Partners set a $195.00 target price on Quest Diagnostics in a research note on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $185.73.

Insider Transactions at Quest Diagnostics

In other news, CEO J. E. Davis sold 39,191 shares of the business'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 value of $6,602,115.86. Following the transaction, the chief executive officer now owns 127,623 shares in the company, valued at $21,499,370.58. The trade was a 23.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael E. Prevoznik sold 4,643 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the transaction, the senior vice president now owns 38,117 shares in the company, valued at $6,479,890. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,263 shares of company stock worth $7,979,355 in the last 90 days. Insiders own 8.16% of the company's stock.

About Quest Diagnostics

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.