Dean Investment Associates LLC Has $1.37 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

Dean Investment Associates LLC decreased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,704 shares of the medical research company’s stock after selling 191 shares during the period. Dean Investment Associates LLC’s holdings in Quest Diagnostics were worth $1,374,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DGX. Scott & Selber Inc. raised its holdings in shares of Quest Diagnostics by 1.2% in the 1st quarter. Scott & Selber Inc. now owns 21,774 shares of the medical research company’s stock worth $2,794,000 after acquiring an additional 256 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Quest Diagnostics by 20.7% in the first quarter. Envestnet Asset Management Inc. now owns 185,980 shares of the medical research company’s stock worth $23,869,000 after purchasing an additional 31,916 shares during the last quarter. Security National Trust Co. lifted its holdings in shares of Quest Diagnostics by 1.5% in the first quarter. Security National Trust Co. now owns 12,408 shares of the medical research company’s stock valued at $1,592,000 after purchasing an additional 180 shares in the last quarter. FAI Wealth Management grew its holdings in Quest Diagnostics by 0.4% during the first quarter. FAI Wealth Management now owns 22,324 shares of the medical research company’s stock worth $2,865,000 after buying an additional 79 shares in the last quarter. Finally, Great Diamond Partners LLC raised its position in Quest Diagnostics by 5.4% in the 1st quarter. Great Diamond Partners LLC now owns 2,127 shares of the medical research company’s stock valued at $272,000 after buying an additional 109 shares during the last quarter. 85.71% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Michael E. Prevoznik sold 5,574 shares of Quest Diagnostics stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $120.47, for a total transaction of $671,499.78. Also, SVP Catherine T. Doherty sold 8,536 shares of the business’s stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $139.96, for a total value of $1,194,698.56. Following the transaction, the senior vice president now owns 68,729 shares of the company’s stock, valued at $9,619,310.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,237 shares of company stock worth $8,161,778. Insiders own 1.49% of the company’s stock.

Several analysts have recently issued reports on the stock. UBS Group upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $135.00 to $158.00 in a research note on Monday, May 10th. Citigroup increased their price objective on shares of Quest Diagnostics from $151.00 to $158.00 in a research note on Friday, January 29th. Mizuho boosted their target price on Quest Diagnostics from $149.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $137.00 price target on shares of Quest Diagnostics in a research report on Thursday, March 18th. Finally, Morgan Stanley boosted their price objective on Quest Diagnostics from $130.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 18th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $139.69.

Shares of DGX stock opened at $135.42 on Monday. The firm’s 50 day moving average is $131.39 and its 200 day moving average is $124.95. The stock has a market capitalization of $17.69 billion, a P/E ratio of 16.74, a PEG ratio of 0.44 and a beta of 1.07. Quest Diagnostics Incorporated has a 12 month low of $103.26 and a 12 month high of $142.80. The company has a current ratio of 1.40, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, April 22nd. The medical research company reported $3.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.77 by ($0.01). The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Quest Diagnostics had a return on equity of 19.23% and a net margin of 13.22%. The company’s revenue was up 49.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. On average, equities analysts predict that Quest Diagnostics Incorporated will post 10.95 EPS for the current year.

Quest Diagnostics announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Quest Diagnostics Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

Read More: SEC Filing

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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