Sigma Planning Corp Cuts Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Sigma Planning Corp reduced its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 76.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,795 shares of the medical research company’s stock after selling 5,990 shares during the period. Sigma Planning Corp’s holdings in Quest Diagnostics were worth $247,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. NBC Securities Inc. purchased a new position in Quest Diagnostics in the third quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in Quest Diagnostics in the fourth quarter valued at approximately $29,000. VisionPoint Advisory Group LLC raised its holdings in Quest Diagnostics by 100.0% in the third quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock valued at $27,000 after buying an additional 109 shares during the period. FinTrust Capital Advisors LLC raised its holdings in Quest Diagnostics by 1,100.0% in the third quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock valued at $32,000 after buying an additional 242 shares during the period. Finally, Headinvest LLC purchased a new position in Quest Diagnostics in the third quarter valued at approximately $36,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Performance

Quest Diagnostics stock opened at $134.26 on Monday. The company has a market cap of $14.91 billion, a PE ratio of 18.07, a P/E/G ratio of 2.92 and a beta of 0.91. The company has a fifty day moving average price of $129.09 and a two-hundred day moving average price of $131.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 1.20. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $146.85.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.04 earnings per share. Research analysts expect that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, April 5th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s payout ratio is currently 38.22%.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the sale, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the sale, the director now owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The disclosure for this sale can be found here. Insiders sold a total of 15,150 shares of company stock valued at $1,913,202 over the last 90 days. 0.79% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DGX. Jefferies Financial Group upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $155.00 in a report on Wednesday, February 7th. TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Barclays raised their price target on shares of Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group raised their price target on shares of Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and an average target price of $146.17.

Quest Diagnostics Profile

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.