Quest Diagnostics Incorporated (NYSE:DGX) Position Decreased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,322 shares of the medical research company’s stock after selling 199 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Quest Diagnostics were worth $6,614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new stake in shares of Quest Diagnostics during the second quarter valued at $26,000. Spartan Planning & Wealth Management purchased a new stake in Quest Diagnostics during the fourth quarter valued at about $31,000. Innealta Capital LLC purchased a new stake in Quest Diagnostics during the second quarter valued at about $31,000. Larson Financial Group LLC increased its position 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 worth $31,000 after acquiring an additional 100 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Quest Diagnostics in the first quarter worth approximately $33,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DGX shares. JPMorgan Chase & Co. raised their price objective on shares of Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Piper Sandler raised their target price on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Barclays upped their price target on Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 27th. Evercore ISI began coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective for the company. Finally, StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and a consensus target price of $154.33.

Quest Diagnostics Trading Down 0.3 %

NYSE:DGX opened at $154.36 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. The company has a market capitalization of $17.18 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.80 and a beta of 0.89. The stock’s 50 day moving average price is $149.21 and its 200 day moving average price is $139.85. Quest Diagnostics Incorporated has a 52 week low of $119.59 and a 52 week high of $159.36.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. Quest Diagnostics’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.30 EPS. On average, research analysts forecast that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be given a $0.75 dividend. The ex-dividend date is Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.94%. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Insider Transactions at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares of the company’s stock, valued at $718,118.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at $718,118.52. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

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.