Isthmus Partners LLC Trims Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Isthmus Partners LLC lowered its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,590 shares of the medical research company’s stock after selling 400 shares during the period. Quest Diagnostics accounts for approximately 1.7% of Isthmus Partners LLC’s portfolio, making the stock its 19th biggest holding. Isthmus Partners LLC’s holdings in Quest Diagnostics were worth $13,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in shares of Quest Diagnostics by 20.7% during the third quarter. Janney Montgomery Scott LLC now owns 16,348 shares of the medical research company’s stock worth $2,538,000 after buying an additional 2,805 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Quest Diagnostics by 10.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,287 shares of the medical research company’s stock worth $355,000 after acquiring an additional 223 shares during the period. Principal Financial Group Inc. raised its holdings in Quest Diagnostics by 18.6% in the 3rd quarter. Principal Financial Group Inc. now owns 438,977 shares of the medical research company’s stock valued at $68,144,000 after acquiring an additional 68,844 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Quest Diagnostics by 2.7% during the 3rd quarter. Assetmark Inc. now owns 6,123 shares of the medical research company’s stock worth $951,000 after purchasing an additional 162 shares during the period. Finally, Sigma Planning Corp boosted its holdings in shares of Quest Diagnostics by 8.4% during the third quarter. Sigma Planning Corp now owns 5,373 shares of the medical research company’s stock worth $834,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 2.2 %

NYSE:DGX opened at $175.49 on Monday. The business’s 50-day moving average is $161.74 and its two-hundred day moving average is $157.63. The firm has a market capitalization of $19.48 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a 12 month low of $125.09 and a 12 month high of $178.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

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

Quest Diagnostics Increases Dividend

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

Insider Activity

In related news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 528 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the transaction, the senior vice president now directly owns 39,031 shares of the company’s stock, valued at approximately $6,737,140.91. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,514 shares of company stock worth $1,634,445. 0.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research report on Tuesday, March 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Finally, Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and an average target price of $178.23.

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.