Quest Diagnostics Incorporated $DGX Stock Position Reduced by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lowered its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 44.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,688 shares of the medical research company’s stock after selling 24,571 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Quest Diagnostics were worth $7,153,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DGX. Next Level Wealth Planning LLC purchased a new stake in shares of Quest Diagnostics in the third quarter worth $25,000. Ancora Advisors LLC purchased a new position in shares of Quest Diagnostics during the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC lifted its stake in shares of Quest Diagnostics by 492.9% during the 1st quarter. Frazier Financial Advisors LLC now owns 166 shares of the medical research company’s stock valued at $33,000 after buying an additional 138 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Quest Diagnostics by 92.2% in the 3rd quarter. Manchester Capital Management LLC now owns 198 shares of the medical research company’s stock worth $46,000 after buying an additional 95 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Quest Diagnostics in the 2nd quarter worth $45,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $258.15 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.58 and a current ratio of 1.70. The firm has a fifty day moving average price of $240.01 and a 200 day moving average price of $214.44. Quest Diagnostics Incorporated has a fifty-two week low of $171.18 and a fifty-two week high of $259.84. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 2.32 and a beta of 0.55.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, October 22nd. The medical research company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Quest Diagnostics had a net margin of 9.53% and a return on equity of 16.21%. Quest Diagnostics’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $2.60 earnings per share. As a group, sell-side analysts expect that Quest Diagnostics Incorporated will post 11.29 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Tuesday, January 12th will be given a dividend of $0.86 per share. The ex-dividend date is Tuesday, January 12th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.3%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings raised Quest Diagnostics from a “buy (a)” rating to a “buy (a+)” rating in a report on Wednesday, October 21st. Wall Street Zen upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Quest Diagnostics in a research note on Thursday, July 23rd. Robert W. Baird set a $262.00 target price on Quest Diagnostics in a research report on Friday, October 23rd. Finally, Argus set a $260.00 target price on Quest Diagnostics in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and an average target price of $248.70.

Insider Transactions at Quest Diagnostics

In related news, Director Gary M. Pfeiffer sold 1,203 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $243.00, for a total value of $292,329.00. Following the sale, the director directly owned 29,802 shares in the company, valued at approximately $7,241,886. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $242.72, for a total value of $2,427,200.00. Following the transaction, the chief executive officer directly owned 122,423 shares of the company’s stock, valued at approximately $29,714,510.56. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 55,985 shares of company stock worth $13,715,017. 0.88% of the stock is currently owned by company insiders.

Quest Diagnostics Company Profile

Quest Diagnostics (NYSE: DGX) is a provider of diagnostic information services, conducting laboratory tests that help physicians and other health care professionals diagnose, monitor and manage medical conditions. Its services include routine blood and other clinical laboratory testing, anatomic pathology, and specialized molecular and genetic testing. The company serves patients, physicians, hospitals, health plans, employers and government organizations. In addition to testing performed through its laboratories and patient service centers, Quest offers services such as workplace drug testing and diagnostic support for clinical research.