Capital Investment Advisors LLC Has $628,000 Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Capital Investment Advisors LLC reduced its stake in shares of Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 18.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,724 shares of the medical research company’s stock after selling 1,049 shares during the quarter. Capital Investment Advisors LLC’s holdings in Quest Diagnostics were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DGX. Rafferty Asset Management LLC raised its stake in Quest Diagnostics by 5.8% during the fourth quarter. Rafferty Asset Management LLC now owns 4,124 shares of the medical research company’s stock worth $713,000 after acquiring an additional 227 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Quest Diagnostics by 22.8% during the fourth quarter. JPMorgan Chase & Co. now owns 456,584 shares of the medical research company’s stock worth $78,994,000 after acquiring an additional 84,654 shares in the last quarter. Advisor Resource Council acquired a new position in Quest Diagnostics during the fourth quarter worth $253,000. Ensign Peak Advisors Inc raised its stake in Quest Diagnostics by 64.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 159,891 shares of the medical research company’s stock worth $27,662,000 after acquiring an additional 62,371 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Quest Diagnostics by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,005 shares of the medical research company’s stock worth $108,306,000 after acquiring an additional 17,367 shares in the last quarter. 88.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $136.04, for a total value of $272,080.00. Following the transaction, the director now owns 23,933 shares of the company’s stock, valued at $3,255,845.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $124.73 on Friday. The business’s 50-day simple moving average is $132.82 and its 200 day simple moving average is $135.69. The stock has a market cap of $14.54 billion, a price-to-earnings ratio of 10.38 and a beta of 1.01. Quest Diagnostics Incorporated has a 12-month low of $123.32 and a 12-month high of $174.16. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 0.62.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The medical research company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.10. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Quest Diagnostics had a return on equity of 24.62% and a net margin of 14.02%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.18 earnings per share. As a group, research analysts anticipate that Quest Diagnostics Incorporated will post 9.68 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, October 3rd. Quest Diagnostics’s dividend payout ratio is 21.96%.

Analyst Ratings Changes

DGX has been the topic of several research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $142.00 target price on shares of Quest Diagnostics in a report on Monday, August 22nd. StockNews.com cut Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $148.50.

About Quest Diagnostics

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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.

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

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