Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,287 shares of the medical research company’s stock after acquiring an additional 223 shares during the period. Concurrent Investment Advisors LLC’s holdings in Quest Diagnostics were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DGX. Rothschild Investment LLC acquired a new stake in Quest Diagnostics during the second quarter worth about $26,000. Innealta Capital LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at about $31,000. Larson Financial Group LLC grew its stake in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at about $33,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at about $35,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now owns 9,734 shares of the company’s stock, valued at approximately $1,527,459.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Karthik Kuppusamy sold 1,775 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now owns 9,734 shares of the company’s stock, valued at approximately $1,527,459.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,520 shares of company stock valued at $3,472,728. Insiders own 0.79% of the company’s stock.

Quest Diagnostics Trading Up 2.0 %

NYSE:DGX opened at $159.37 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $153.52 and its two-hundred day moving average is $146.67. Quest Diagnostics Incorporated has a 52 week low of $123.04 and a 52 week high of $160.95. The company has a market cap of $17.79 billion, a PE ratio of 21.42, a P/E/G ratio of 2.68 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $2.22 EPS. On average, analysts predict that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is 40.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays increased their target price on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Robert W. Baird upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and increased their target price for the company from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Citigroup increased their price target on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday. Finally, Evercore ISI assumed coverage on Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target for the company. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $164.58.

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.