Partners Wealth Management LLC Acquires 2,291 Shares of Quest Diagnostics Incorporated $DGX

Partners Wealth Management LLC acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the third quarter, HoldingsChannel reports. The firm acquired 2,291 shares of the medical research company’s stock, valued at approximately $534,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DGX. Ancora Advisors LLC acquired a new stake in shares of Quest Diagnostics during the second quarter worth about $29,000. Frazier Financial Advisors LLC grew its holdings in shares of Quest Diagnostics by 492.9% during the first quarter. Frazier Financial Advisors LLC now owns 166 shares of the medical research company’s stock worth $33,000 after buying an additional 138 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Quest Diagnostics in the 2nd quarter valued at about $45,000. Dunhill Financial LLC acquired a new position in Quest Diagnostics in the 2nd quarter valued at about $46,000. Finally, Manchester Capital Management LLC increased its position 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 valued at $46,000 after acquiring an additional 95 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 0.4%

DGX stock opened at $251.87 on Friday. The stock has a market capitalization of $27.71 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The company has a fifty day moving average of $238.53 and a 200-day moving average of $212.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.58 and a current ratio of 1.70. Quest Diagnostics Incorporated has a one year low of $171.18 and a one year high of $256.99.

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

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Tuesday, October 6th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, October 6th. Quest Diagnostics’s payout ratio is currently 34.26%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 22,677 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $243.11, for a total transaction of $5,513,005.47. Following the completion of the transaction, the senior vice president directly owned 37,557 shares of the company’s stock, valued at approximately $9,130,482.27. This represents a 37.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary M. Pfeiffer sold 1,203 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $243.00, for a total value of $292,329.00. Following the transaction, the director directly owned 29,802 shares of the company’s stock, valued at approximately $7,241,886. This trade represents a 3.88% 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 90 days, insiders have sold 33,880 shares of company stock valued at $8,232,534. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on DGX shares. Robert W. Baird set a $262.00 price objective on Quest Diagnostics in a research note on Friday, October 23rd. Wall Street Zen upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. Argus set a $260.00 target price on Quest Diagnostics in a report on Wednesday, July 29th. UBS Group reissued a “neutral” rating and issued a $250.00 target price on shares of Quest Diagnostics in a report on Monday, October 19th. Finally, Weiss Ratings upgraded Quest Diagnostics from a “buy (a)” rating to a “buy (a+)” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Quest Diagnostics Profile

Quest Diagnostics Incorporated (NYSE: DGX) is a provider of diagnostic information services. The company performs laboratory testing that helps physicians, hospitals and other healthcare providers diagnose, treat and monitor diseases and health conditions. Its services include routine blood and other specimen testing, pathology, molecular and genetic testing, and specialized diagnostic services.

Quest Diagnostics serves a broad range of customers, including hospitals, physician practices, health plans, employers, government agencies and individual consumers.