Concurrent Investment Advisors LLC Sells 70 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Concurrent Investment Advisors LLC reduced its position in Quest Diagnostics Incorporated (NYSE:DGX) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,217 shares of the medical research company’s stock after selling 70 shares during the period. Concurrent Investment Advisors LLC’s holdings in Quest Diagnostics were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DGX. Brooklyn Investment Group raised its stake in Quest Diagnostics by 5.5% during the 4th quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company’s stock valued at $198,000 after buying an additional 68 shares during the last quarter. Avestar Capital LLC lifted its position in Quest Diagnostics by 1.1% during the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company’s stock valued at $976,000 after purchasing an additional 71 shares in the last quarter. Mather Group LLC. lifted its position in shares of Quest Diagnostics by 10.4% during the 4th quarter. Mather Group LLC. now owns 764 shares of the medical research company’s stock valued at $115,000 after buying an additional 72 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Quest Diagnostics by 2.0% in the third quarter. Empirical Finance LLC now owns 3,948 shares of the medical research company’s stock worth $613,000 after purchasing an additional 76 shares during the period. Finally, Spire Wealth Management increased its stake in shares of Quest Diagnostics by 8.0% in the fourth quarter. Spire Wealth Management now owns 1,139 shares of the medical research company’s stock worth $172,000 after purchasing an additional 84 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on 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 transaction, the senior vice president now directly owns 4,624 shares in the company, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vicky B. Gregg sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the sale, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,792 shares of company stock worth $465,998. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $175.69 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm has a market cap of $19.50 billion, a PE ratio of 22.85, a P/E/G ratio of 2.16 and a beta of 0.91. The business has a 50-day moving average price of $157.99 and a 200 day moving average price of $156.17. Quest Diagnostics Incorporated has a twelve month low of $123.66 and a twelve month high of $176.44.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping 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%. Sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.82%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is currently 41.61%.

Analyst Upgrades and Downgrades

DGX has been the subject of several recent analyst reports. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Barclays lifted their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Robert W. Baird set a $189.00 price objective on shares of Quest Diagnostics in a report on Friday, January 31st. Finally, Bank of America raised their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.