Schwartz Investment Counsel Inc. Lowers Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Schwartz Investment Counsel Inc. lessened its position in Quest Diagnostics Incorporated (NYSE:DGX) by 0.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 95,900 shares of the medical research company’s stock after selling 166 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Quest Diagnostics were worth $14,467,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after acquiring an additional 194 shares in the last quarter. First Financial Corp IN acquired a new stake in Quest Diagnostics during the 4th quarter worth $38,000. Global Trust Asset Management LLC purchased a new position in Quest Diagnostics during the 4th quarter worth approximately $49,000. Sentry Investment Management LLC acquired a new position in shares of Quest Diagnostics in the 3rd quarter valued at $82,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $91,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $166.82 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market cap of $18.62 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 2.04 and a beta of 0.91. Quest Diagnostics Incorporated has a 1 year low of $123.30 and a 1 year high of $168.17. The firm has a 50 day moving average price of $155.51 and a 200 day moving average price of $154.49.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.80 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Monday, April 7th. Quest Diagnostics’s payout ratio is currently 39.01%.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of analyst reports. Leerink Partnrs upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Barclays lifted their price objective on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America increased their price objective on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $145.00 to $172.00 in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.69.

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.