Quest Diagnostics Incorporated (NYSE:DGX) Position Decreased by Sigma Planning Corp

Sigma Planning Corp trimmed its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 2.6% in the first quarter, Holdings Channel.com reports. The firm owned 5,352 shares of the medical research company’s stock after selling 145 shares during the quarter. Sigma Planning Corp’s holdings in Quest Diagnostics were worth $906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC boosted its stake in shares of Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 82 shares during the period. Golden State Wealth Management LLC grew its position in shares of Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 118 shares during the period. NBC Securities Inc. acquired a new position in Quest Diagnostics during the 1st quarter worth approximately $35,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company’s stock valued at $38,000 after buying an additional 222 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

NYSE:DGX opened at $168.27 on Friday. Quest Diagnostics Incorporated has a 12 month low of $137.71 and a 12 month high of $182.38. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average is $175.15 and its 200 day moving average is $168.84. The company has a market capitalization of $18.79 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.33 and a beta of 0.49.

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

Quest Diagnostics Dividend Announcement

The firm 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, July 7th. Quest Diagnostics’s dividend payout ratio (DPR) is 40.46%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the transaction, the senior vice president owned 8,372 shares in the company, valued at $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DGX. Evercore ISI increased their price target on Quest Diagnostics from $175.00 to $180.00 and gave the company an “in-line” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Redburn Atlantic assumed coverage on Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price objective on the stock. Piper Sandler raised their price objective on Quest Diagnostics from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Finally, Barclays raised their price objective on Quest Diagnostics from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.73.

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.