Tocqueville Asset Management L.P. Trims Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Tocqueville Asset Management L.P. decreased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,135 shares of the medical research company’s stock after selling 2,759 shares during the period. Tocqueville Asset Management L.P. owned 0.11% of Quest Diagnostics worth $18,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Quest Diagnostics in the fourth quarter worth about $67,447,000. BNP Paribas Financial Markets increased its position in Quest Diagnostics by 25.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock valued at $116,018,000 after purchasing an additional 151,365 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Quest Diagnostics by 14.8% in the 4th quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company’s stock valued at $133,023,000 after purchasing an additional 113,956 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Quest Diagnostics by 535.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock worth $19,376,000 after purchasing an additional 108,224 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Quest Diagnostics by 23.8% during the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock valued at $81,994,000 after purchasing an additional 104,495 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of DGX opened at $173.62 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The company’s fifty day moving average price is $163.98 and its 200-day moving average price is $158.30. Quest Diagnostics Incorporated has a 1-year low of $125.42 and a 1-year high of $178.87. The firm has a market capitalization of $19.27 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

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

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.84%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the transaction, the director now owns 16,867 shares of the company’s stock, valued at $2,775,802.19. The trade was a 6.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,514 shares of company stock worth $1,634,445. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group raised their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. Robert W. Baird set a $189.00 price target on shares of Quest Diagnostics in a report on Friday, January 31st. Finally, Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $169.00 to $174.00 in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics has an average rating of “Moderate Buy” and an average target price of $178.23.

Quest Diagnostics 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.