Hsbc Holdings PLC Has $36.61 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Hsbc Holdings PLC trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,507 shares of the medical research company's stock after selling 44,648 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Quest Diagnostics worth $36,608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DGX. Sierra Ocean LLC acquired a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $33,000. First Financial Corp IN bought a new position in Quest Diagnostics during the fourth quarter worth $38,000. Versant Capital Management Inc lifted its stake in shares of Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after buying an additional 194 shares during the period. FPC Investment Advisory Inc. acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at $45,000. Finally, Global Trust Asset Management LLC bought a new stake in Quest Diagnostics in the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

NYSE:DGX traded down $0.43 during trading hours on Thursday, reaching $177.79. 197,794 shares of the company were exchanged, compared to its average volume of 959,315. The company has a market capitalization of $19.85 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.16 and a beta of 0.78. The business has a 50 day moving average of $169.31 and a 200 day moving average of $161.59. Quest Diagnostics Incorporated has a 1-year low of $135.27 and a 1-year high of $179.37. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company's stock, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,903 shares of company stock worth $9,460,221. 8.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Evercore ISI raised 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. Barclays upped their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 23rd. Leerink Partners raised Quest Diagnostics from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Citigroup lowered shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price objective on the stock. in a research note on Tuesday, March 4th. Finally, Leerink Partnrs raised Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $185.07.

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.