Occidental Asset Management LLC grew its stake in Quest Diagnostics Inc (NYSE:DGX) by 22.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,691 shares of the medical research company’s stock after acquiring an additional 1,426 shares during the quarter. Occidental Asset Management LLC’s holdings in Quest Diagnostics were worth $783,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DGX. Wealthcare Advisory Partners LLC acquired a new position in Quest Diagnostics in the second quarter valued at $29,000. Berman Capital Advisors LLC increased its stake in Quest Diagnostics by 47.7% in the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 103 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Quest Diagnostics in the first quarter valued at $42,000. Signaturefd LLC increased its stake in Quest Diagnostics by 74.7% in the first quarter. Signaturefd LLC now owns 505 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 216 shares during the last quarter. Finally, CWM LLC increased its stake in Quest Diagnostics by 61.1% in the second quarter. CWM LLC now owns 464 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.

Several equities analysts recently commented on DGX shares. Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 target price for the company in a research note on Wednesday, July 24th. Morgan Stanley upped their target price on Quest Diagnostics from $104.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. ValuEngine upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Citigroup upped their target price on Quest Diagnostics from $93.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Credit Suisse Group upped their target price on Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $104.44.

In other news, insider Mark Guinan sold 73,005 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $100.00, for a total value of $7,300,500.00. Following the completion of the sale, the insider now owns 139,022 shares in the company, valued at $13,902,200. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Stephen H. Rusckowski sold 244,565 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $100.00, for a total value of $24,456,500.00. Following the completion of the sale, the chairman now owns 457,614 shares of the company’s stock, valued at approximately $45,761,400. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by company insiders.

Shares of DGX stock traded up $0.72 during trading hours on Thursday, reaching $100.25. The company had a trading volume of 615,723 shares, compared to its average volume of 1,065,795. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.58. Quest Diagnostics Inc has a twelve month low of $78.95 and a twelve month high of $112.38. The stock has a market capitalization of $13.51 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.03 and a beta of 0.88. The company’s fifty day simple moving average is $101.41.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts forecast that Quest Diagnostics Inc will post 6.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.11%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 33.60%.

Quest Diagnostics Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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