Sigma Planning Corp Cuts Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sigma Planning Corp lowered its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 76.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,795 shares of the medical research company's stock after selling 5,990 shares during the quarter. Sigma Planning Corp's holdings in Quest Diagnostics were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. American Century Companies Inc. raised its stake in shares of Quest Diagnostics by 12.3% in the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company's stock worth $433,153,000 after purchasing an additional 388,162 shares during the last quarter. Victory Capital Management Inc. increased its position in Quest Diagnostics by 5.6% during the third quarter. Victory Capital Management Inc. now owns 3,414,514 shares of the medical research company's stock valued at $416,093,000 after acquiring an additional 180,889 shares during the last quarter. Wellington Management Group LLP increased its position in Quest Diagnostics by 14.6% during the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company's stock valued at $318,517,000 after acquiring an additional 333,947 shares during the last quarter. JPMorgan Chase & Co. increased its position in Quest Diagnostics by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company's stock valued at $243,884,000 after acquiring an additional 538,377 shares during the last quarter. Finally, Invesco Ltd. increased its position in Quest Diagnostics by 5.4% during the third quarter. Invesco Ltd. now owns 1,798,803 shares of the medical research company's stock valued at $219,202,000 after acquiring an additional 92,542 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

Insider Activity at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the transaction, the senior vice president now directly owns 40,206 shares of the company's stock, valued at $5,071,584.84. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the transaction, the senior vice president now directly owns 40,206 shares of the company's stock, valued at $5,071,584.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the transaction, the director now directly owns 16,329 shares of the company's stock, valued at $2,067,904.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,150 shares of company stock valued at $1,913,202. Insiders own 0.79% of the company's stock.

Quest Diagnostics Price Performance

Shares of NYSE DGX traded up $5.28 during mid-day trading on Monday, reaching $139.54. The company's stock had a trading volume of 2,790,071 shares, compared to its average volume of 1,079,131. The firm has a market capitalization of $15.50 billion, a PE ratio of 18.78, a P/E/G ratio of 2.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a fifty day moving average of $129.09 and a two-hundred day moving average of $131.29. Quest Diagnostics Incorporated has a 52 week low of $119.59 and a 52 week high of $145.58.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.18. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.04 earnings per share. As a group, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 8.78 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, April 5th. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a yield of 2.15%. Quest Diagnostics's dividend payout ratio is presently 38.22%.

Wall Street Analysts Forecast Growth

DGX has been the subject of a number of research reports. Jefferies Financial Group upgraded Quest Diagnostics from a "hold" rating to a "buy" rating and upped their price objective for the company from $140.00 to $155.00 in a research report on Wednesday, February 7th. TheStreet cut Quest Diagnostics from a "b-" rating to a "c" rating in a research report on Monday, February 5th. Barclays upped their price objective on Quest Diagnostics from $138.00 to $144.00 and gave the company an "equal weight" rating in a research report on Thursday. SVB Leerink assumed coverage on Quest Diagnostics in a report on Monday, February 26th. They set a "market perform" rating and a $135.00 price target for the company. Finally, Citigroup boosted their price target on Quest Diagnostics from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $146.17.

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.