Oppenheimer & Co. Inc. Reduces Position in Quest Diagnostics Incorporated (NYSE:DGX)

Oppenheimer & Co. Inc. decreased its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,523 shares of the medical research company’s stock after selling 866 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Quest Diagnostics were worth $6,717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sierra Ocean LLC purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at approximately $33,000. Versant Capital Management Inc grew its position in Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN bought a new stake in Quest Diagnostics in the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics during the 4th quarter valued at $45,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics during the 4th quarter valued at $49,000. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DGX. Barclays lifted their price objective on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Robert W. Baird set a $189.00 price target on Quest Diagnostics in a research note on Friday, January 31st. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Bank of America raised their price objective on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Mizuho upped their target price on shares of Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $178.23.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $171.54 on Friday. 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 Incorporated has a 1 year low of $123.66 and a 1 year high of $176.44. The firm has a fifty day moving average price of $159.23 and a 200-day moving average price of $156.58. The stock has a market cap of $19.04 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate 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. Investors of record on Monday, April 7th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, April 7th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio (DPR) is 41.61%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 604 shares of Quest Diagnostics stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total value of $103,277.96. Following the sale, the senior vice president now directly owns 39,845 shares in the company, valued at approximately $6,813,096.55. The trade was a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Catherine T. Doherty sold 535 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the sale, the executive vice president now owns 71,356 shares in the company, valued at approximately $12,109,826.76. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,792 shares of company stock valued at $465,998. Corporate insiders own 0.79% of the company’s stock.

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.