Cresset Asset Management LLC Trims Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Cresset Asset Management LLC lowered its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 66.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,298 shares of the medical research company's stock after selling 8,496 shares during the period. Cresset Asset Management LLC's holdings in Quest Diagnostics were worth $648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DGX. Sierra Ocean LLC bought a new position in Quest Diagnostics in the fourth quarter worth approximately $33,000. First Financial Corp IN bought a new position in Quest Diagnostics in the fourth quarter worth approximately $38,000. FPC Investment Advisory Inc. bought a new position in Quest Diagnostics in the fourth quarter worth approximately $45,000. Global Trust Asset Management LLC bought a new position in Quest Diagnostics in the fourth quarter worth approximately $49,000. Finally, SBI Securities Co. Ltd. bought a new position in Quest Diagnostics in the fourth quarter worth approximately $54,000. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX traded up $1.47 during mid-day trading on Friday, hitting $177.88. The company had a trading volume of 2,133,923 shares, compared to its average volume of 986,958. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 2.16 and a beta of 0.52. Quest Diagnostics Incorporated has a 1 year low of $135.47 and a 1 year high of $179.32. 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 stock's 50-day moving average price is $170.04 and its 200-day moving average price is $163.55.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.06. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, sell-side analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share 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 paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's dividend payout ratio is 40.46%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the sale, the executive vice president now owns 71,356 shares of the company's stock, valued at $12,109,826.76. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction dated 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 sale, the chief executive officer now directly owns 127,623 shares of the company's stock, valued at approximately $21,499,370.58. This trade represents a 23.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,124 shares of company stock valued at $9,341,875. Company insiders own 8.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DGX shares. Redburn Partners set a $195.00 price target on Quest Diagnostics in a research report on Wednesday, April 2nd. UBS Group upped their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Redburn Atlantic began coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price objective for the company. Evercore ISI lifted their price target on Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a report on Wednesday, April 23rd. Finally, Mizuho lifted their price target on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $185.73.

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.