Motley Fool Asset Management LLC Lowers Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Motley Fool Asset Management LLC trimmed its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,723 shares of the medical research company’s stock after selling 99 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Quest Diagnostics were worth $229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Arkadios Wealth Advisors boosted its stake in shares of Quest Diagnostics by 1.6% in the 1st quarter. Arkadios Wealth Advisors now owns 4,933 shares of the medical research company’s stock worth $657,000 after buying an additional 77 shares during the last quarter. New England Capital Financial Advisors LLC grew its stake in shares of Quest Diagnostics by 24.7% during the 1st quarter. New England Capital Financial Advisors LLC now owns 389 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 77 shares during the period. Keudell Morrison Wealth Management increased its position in shares of Quest Diagnostics by 3.8% during the 1st quarter. Keudell Morrison Wealth Management now owns 2,312 shares of the medical research company’s stock valued at $308,000 after purchasing an additional 85 shares during the last quarter. Arjuna Capital lifted its stake in shares of Quest Diagnostics by 5.2% in the 1st quarter. Arjuna Capital now owns 1,770 shares of the medical research company’s stock worth $236,000 after purchasing an additional 88 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of Quest Diagnostics by 0.3% in the fourth quarter. State of Michigan Retirement System now owns 33,417 shares of the medical research company’s stock worth $4,608,000 after buying an additional 100 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at $718,118.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

Quest Diagnostics Trading Up 2.3 %

Quest Diagnostics stock traded up $3.21 during midday trading on Thursday, hitting $145.51. 138,799 shares of the stock were exchanged, compared to its average volume of 992,433. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $141.08 and its 200 day simple moving average is $134.57. Quest Diagnostics Incorporated has a fifty-two week low of $119.59 and a fifty-two week high of $150.59. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.60 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.30 EPS. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, July 8th. Quest Diagnostics’s dividend payout ratio (DPR) is 40.38%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DGX shares. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $165.00 in a research note on Wednesday, July 10th. Robert W. Baird boosted their price target on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Mizuho increased their target price on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $150.15.

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.