Chevy Chase Trust Holdings LLC Grows Position in Quest Diagnostics Incorporated (NYSE:DGX)

Chevy Chase Trust Holdings LLC grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,130 shares of the medical research company’s stock after purchasing an additional 10,342 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Quest Diagnostics were worth $18,972,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC increased its holdings in Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after buying an additional 67 shares in the last quarter. NBC Securities Inc. acquired a new position in Quest Diagnostics in the 1st quarter worth about $35,000. Continuum Advisory LLC boosted its position in Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company’s stock worth $38,000 after purchasing an additional 222 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Quest Diagnostics in the fourth quarter valued at approximately $54,000. Finally, Sandy Spring Bank increased its position in shares of Quest Diagnostics by 142.5% in the fourth quarter. Sandy Spring Bank now owns 485 shares of the medical research company’s stock valued at $73,000 after buying an additional 285 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 874 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the completion of the transaction, the senior vice president now directly owns 8,372 shares in the company, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their position. The transaction 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 firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the sale, the chief executive officer now directly owns 127,623 shares of the company’s stock, valued at $21,499,370.58. The trade was a 23.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,620 shares of company stock worth $7,190,045 in the last ninety days. 8.16% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Evercore ISI raised their price target on shares of Quest Diagnostics from $175.00 to $180.00 and gave the company an “in-line” rating in a research note on Wednesday, April 23rd. Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a report on Tuesday, March 4th. Finally, Redburn Atlantic assumed coverage on Quest Diagnostics in a report on Wednesday, April 2nd. They set a “buy” rating and a $195.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.73.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock opened at $178.71 on Thursday. The business’s 50 day moving average price is $175.22 and its 200 day moving average price is $166.68. The company has a market cap of $19.95 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.51 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $182.38.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. On average, research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Monday, July 7th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.46%.

Quest Diagnostics Company 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.