Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 15.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,246 shares of the medical research company’s stock after purchasing an additional 308 shares during the quarter. Cerity Partners LLC’s holdings in Quest Diagnostics were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Quest Diagnostics by 4.8% in the first quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after purchasing an additional 636,301 shares during the last quarter. BlackRock Inc. increased its stake in Quest Diagnostics by 10.1% in the first quarter. BlackRock Inc. now owns 12,807,624 shares of the medical research company’s stock valued at $1,752,852,000 after purchasing an additional 1,171,242 shares during the last quarter. Bank of America Corp DE increased its stake in Quest Diagnostics by 12.4% in the first quarter. Bank of America Corp DE now owns 3,628,272 shares of the medical research company’s stock valued at $496,566,000 after purchasing an additional 398,924 shares during the last quarter. Victory Capital Management Inc. increased its stake in Quest Diagnostics by 4.3% in the second quarter. Victory Capital Management Inc. now owns 3,012,557 shares of the medical research company’s stock valued at $400,610,000 after purchasing an additional 124,942 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Quest Diagnostics by 33.7% during the first quarter. American Century Companies Inc. now owns 2,634,641 shares of the medical research company’s stock worth $360,577,000 after acquiring an additional 664,574 shares during the last quarter. 88.87% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

DGX stock opened at $146.42 on Monday. The firm has a market cap of $16.68 billion, a P/E ratio of 14.40 and a beta of 1.02. Quest Diagnostics Incorporated has a 1 year low of $120.40 and a 1 year high of $174.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.34 and a current ratio of 1.46. The stock has a 50-day simple moving average of $133.69 and a 200-day simple moving average of $134.50.

Quest Diagnostics (NYSE:DGXGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The medical research company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.17. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.34 billion. Quest Diagnostics had a return on equity of 21.36% and a net margin of 12.00%. Quest Diagnostics’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.96 earnings per share. On average, equities analysts predict that Quest Diagnostics Incorporated will post 9.85 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Wednesday, January 18th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, January 17th. Quest Diagnostics’s dividend payout ratio is currently 25.96%.

Insider Activity at Quest Diagnostics

In related news, Director Timothy M. Ring sold 2,000 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $123.39, for a total value of $246,780.00. Following the completion of the transaction, the director now owns 23,933 shares of the company’s stock, valued at $2,953,092.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $123.39, for a total transaction of $246,780.00. Following the transaction, the director now owns 23,933 shares of the company’s stock, valued at approximately $2,953,092.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael J. Deppe sold 15,497 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $145.00, for a total value of $2,247,065.00. Following the transaction, the chief accounting officer now directly owns 32,013 shares in the company, valued at approximately $4,641,885. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,497 shares of company stock valued at $2,781,965. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Citigroup lowered Quest Diagnostics from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $145.00 to $125.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Quest Diagnostics from $129.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, October 21st. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a research note on Thursday, October 20th. Finally, Morgan Stanley upped their price target on Quest Diagnostics from $142.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Friday, October 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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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