Wellington Management Group LLP lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 3.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 87,570 shares of the medical research company’s stock after selling 3,166 shares during the period. Wellington Management Group LLP’s holdings in Quest Diagnostics were worth $18,560,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quattro Advisors LLC bought a new position in Quest Diagnostics in the fourth quarter worth approximately $25,000. Key Financial Inc boosted its position in Quest Diagnostics by 1,728.6% during the 1st quarter. Key Financial Inc now owns 128 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 121 shares in the last quarter. DV Equities LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $27,000. Sittner & Nelson LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $29,000. Finally, Ancora Advisors LLC bought a new position in shares of Quest Diagnostics in the 2nd quarter worth $29,000. 88.06% of the stock is currently owned by institutional investors.
Quest Diagnostics Stock Down 0.2%
Shares of DGX stock opened at $236.75 on Monday. Quest Diagnostics Incorporated has a 1-year low of $171.18 and a 1-year high of $247.19. The stock’s fifty day moving average price is $227.64 and its 200 day moving average price is $208.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.59 and a quick ratio of 1.46. The company has a market cap of $26.13 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 2.17 and a beta of 0.55.
Quest Diagnostics Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, October 6th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.52%.
Analyst Ratings Changes
A number of brokerages recently weighed in on DGX. Weiss Ratings upgraded Quest Diagnostics from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $245.00 target price on shares of Quest Diagnostics in a report on Thursday, July 23rd. Barclays increased their price target on shares of Quest Diagnostics from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. UBS Group lifted their price objective on shares of Quest Diagnostics from $220.00 to $232.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Mizuho boosted their price objective on shares of Quest Diagnostics from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.31.
Get Our Latest Report on Quest Diagnostics
Insider Buying and Selling
In other news, SVP Michael E. Prevoznik sold 22,677 shares of Quest Diagnostics stock in a transaction on Friday, August 28th. The shares were sold at an average price of $243.11, for a total transaction of $5,513,005.47. Following the completion of the sale, the senior vice president directly owned 37,557 shares in the company, valued at approximately $9,130,482.27. The trade was a 37.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark E. Delaney sold 1,600 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $235.18, for a total value of $376,288.00. Following the completion of the transaction, the senior vice president directly owned 10,335 shares in the company, valued at approximately $2,430,585.30. The trade was a 13.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 34,277 shares of company stock worth $8,316,493 in the last three months. Corporate insiders own 0.88% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.
Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.
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