Amalgamated Bank Sells 1,130 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Amalgamated Bank trimmed its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,290 shares of the medical research company’s stock after selling 1,130 shares during the period. Amalgamated Bank’s holdings in Quest Diagnostics were worth $3,901,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Quest Diagnostics by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock worth $243,884,000 after buying an additional 538,377 shares during the last quarter. American Century Companies Inc. boosted its holdings in Quest Diagnostics by 12.3% during the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock valued at $433,153,000 after acquiring an additional 388,162 shares during the period. Wellington Management Group LLP grew its position in shares of Quest Diagnostics by 14.6% in the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after purchasing an additional 333,947 shares during the last quarter. Pathstone Family Office LLC increased its stake in shares of Quest Diagnostics by 2,400.9% in the third quarter. Pathstone Family Office LLC now owns 336,521 shares of the medical research company’s stock worth $41,008,000 after purchasing an additional 323,065 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Quest Diagnostics during the 4th quarter worth about $30,869,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Performance

Quest Diagnostics stock opened at $136.15 on Thursday. The firm has a market capitalization of $15.12 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.98 and a beta of 0.88. The stock has a fifty day moving average price of $130.94 and a two-hundred day moving average price of $132.04. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $145.58. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.89.

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

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 5,611 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now directly owns 38,478 shares in the company, valued at approximately $4,843,610.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,910 shares of company stock valued at $2,159,602. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DGX. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Citigroup upped their target price on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Leerink Partnrs restated a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, February 26th. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a research report on Wednesday, February 7th. Finally, UBS Group lifted their target price on Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $146.17.

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.