Occidental Asset Management LLC Acquires 1,129 Shares of Quest Diagnostics Inc (NYSE:DGX)

Occidental Asset Management LLC lifted its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 14.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,820 shares of the medical research company’s stock after purchasing an additional 1,129 shares during the quarter. Occidental Asset Management LLC’s holdings in Quest Diagnostics were worth $944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DGX. Pearl River Capital LLC bought a new position in shares of Quest Diagnostics during the second quarter worth approximately $28,000. Wealthcare Advisory Partners LLC bought a new position in shares of Quest Diagnostics during the second quarter worth approximately $29,000. Berman Capital Advisors LLC increased its holdings in shares of Quest Diagnostics by 47.7% during the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock worth $32,000 after purchasing an additional 103 shares during the period. NuWave Investment Management LLC increased its holdings in shares of Quest Diagnostics by 108.4% during the third quarter. NuWave Investment Management LLC now owns 346 shares of the medical research company’s stock worth $36,000 after purchasing an additional 180 shares during the period. Finally, CWM LLC increased its holdings in shares of Quest Diagnostics by 61.1% during the second quarter. CWM LLC now owns 464 shares of the medical research company’s stock worth $47,000 after purchasing an additional 176 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on DGX shares. Goldman Sachs Group cut shares of Quest Diagnostics from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $90.00 to $85.00 in a report on Monday, July 15th. Canaccord Genuity lifted their price objective on shares of Quest Diagnostics from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price objective on shares of Quest Diagnostics from $111.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Quest Diagnostics from $100.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Credit Suisse Group lifted their price objective on shares of Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Quest Diagnostics presently has an average rating of “Hold” and an average price target of $105.06.

In other Quest Diagnostics news, CAO Michael J. Deppe sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the sale, the chief accounting officer now owns 28,671 shares of the company’s stock, valued at $3,039,126. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.86% of the company’s stock.

NYSE:DGX traded down $1.84 during mid-day trading on Friday, reaching $102.90. The stock had a trading volume of 931,452 shares, compared to its average volume of 766,746. The stock has a 50-day simple moving average of $104.52 and a two-hundred day simple moving average of $99.68. The stock has a market capitalization of $14.11 billion, a PE ratio of 16.31, a P/E/G ratio of 2.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.77. Quest Diagnostics Inc has a 12 month low of $78.95 and a 12 month high of $107.97.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.06%. Quest Diagnostics’s payout ratio is presently 33.60%.

About Quest Diagnostics

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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