Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lowered its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,456 shares of the medical research company’s stock after selling 114 shares during the period. Thoroughbred Financial Services LLC’s holdings in Quest Diagnostics were worth $1,879,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter worth $33,000. Versant Capital Management Inc increased its position in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN acquired a new stake in Quest Diagnostics in the fourth quarter valued at $38,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics during the fourth quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $49,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 3.8 %

Shares of NYSE:DGX opened at $164.08 on Friday. Quest Diagnostics Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87. The stock has a market capitalization of $18.21 billion, a P/E ratio of 21.34, a PEG ratio of 2.16 and a beta of 0.78. 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 stock has a 50-day simple moving average of $168.21 and a 200-day simple moving average of $159.49.

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

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.95%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Insiders Place Their Bets

In other news, SVP Mark E. Delaney sold 403 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares in the company, valued at approximately $759,723.20. This represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO J. E. Davis sold 39,191 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at $21,499,370.58. The trade was a 23.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,903 shares of company stock worth $9,460,221 in the last three months. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DGX. Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $145.00 to $172.00 in a research note on Tuesday, December 17th. Barclays increased their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. UBS Group lifted their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $169.00 to $174.00 in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.57.

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.