Ascent Wealth Partners LLC Decreases Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Ascent Wealth Partners LLC lessened its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,021 shares of the medical research company’s stock after selling 64 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Quest Diagnostics were worth $607,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Quest Diagnostics during the fourth quarter worth about $33,000. Versant Capital Management Inc increased its holdings in Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after buying an additional 194 shares during the last quarter. First Financial Corp IN purchased a new stake in Quest Diagnostics during the fourth quarter worth about $38,000. FPC Investment Advisory Inc. purchased a new position in shares of Quest Diagnostics in the fourth quarter worth about $45,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Quest Diagnostics in the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Activity

In related 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 transaction of $205,712.50. Following the transaction, the director now owns 16,867 shares in the company, valued at $2,775,802.19. The trade was a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Catherine T. Doherty sold 535 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the transaction, the executive vice president now owns 71,356 shares in the company, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,792 shares of company stock valued at $465,998. Insiders own 0.79% of the company’s stock.

Quest Diagnostics Trading Up 0.2 %

NYSE DGX opened at $172.44 on Friday. Quest Diagnostics Incorporated has a 1-year low of $123.66 and a 1-year high of $172.91. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average of $157.56 and a 200-day moving average of $155.93. The firm has a market cap of $19.25 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share 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%. As a group, sell-side analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is 39.01%.

Wall Street Analyst Weigh In

DGX has been the subject of several recent research reports. Mizuho lifted their target price on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Bank of America lifted their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. UBS Group lifted their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Robert W. Baird set a $189.00 target price on shares of Quest Diagnostics in a research note on Friday, January 31st. Finally, StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and an average price target 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.