SVB Wealth LLC Sells 29,087 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

SVB Wealth LLC trimmed its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 24.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 91,155 shares of the medical research company’s stock after selling 29,087 shares during the period. SVB Wealth LLC’s holdings in Quest Diagnostics were worth $12,568,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Quest Diagnostics in the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC boosted its position in shares of Quest Diagnostics by 100.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares in the last quarter. Chilton Capital Management LLC bought a new stake in shares of Quest Diagnostics in the 1st quarter worth approximately $28,000. BKM Wealth Management LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $29,000. Finally, FinTrust Capital Advisors LLC boosted its position in shares of Quest Diagnostics by 1,100.0% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock worth $32,000 after purchasing an additional 242 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Stock Performance

DGX traded up $0.08 during mid-day trading on Tuesday, reaching $128.72. 113,876 shares of the company traded hands, compared to its average volume of 1,024,694. The stock has a market capitalization of $14.30 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average price is $128.28 and its 200-day moving average price is $130.74. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $148.62.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.11 by $0.04. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. Quest Diagnostics’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Friday, April 5th. This represents a $3.00 annualized dividend and a yield of 2.33%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is currently 37.92%.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 5,611 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the transaction, the director now owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,150 shares of company stock valued at $1,913,202. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, February 26th. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Barclays began coverage on shares of Quest Diagnostics in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price objective for the company. Finally, TheStreet lowered shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $144.18.

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.