Freestone Capital Holdings LLC Reduces Stock Position in Quest Diagnostics Inc (NYSE:DGX)

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Freestone Capital Holdings LLC lowered its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,996 shares of the medical research company’s stock after selling 4,455 shares during the period. Freestone Capital Holdings LLC’s holdings in Quest Diagnostics were worth $3,665,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DGX. Berman Capital Advisors LLC raised its position in shares of Quest Diagnostics by 47.7% in the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock worth $32,000 after buying an additional 103 shares in the last quarter. Financial Advantage Inc. raised its position in shares of Quest Diagnostics by 0.3% in the second quarter. Financial Advantage Inc. now owns 30,316 shares of the medical research company’s stock worth $3,086,000 after buying an additional 104 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Quest Diagnostics by 4.5% in the second quarter. SeaCrest Wealth Management LLC now owns 2,520 shares of the medical research company’s stock worth $257,000 after buying an additional 108 shares in the last quarter. Signaturefd LLC raised its position in shares of Quest Diagnostics by 22.0% in the second quarter. Signaturefd LLC now owns 616 shares of the medical research company’s stock worth $63,000 after buying an additional 111 shares in the last quarter. Finally, Acropolis Investment Management LLC raised its position in shares of Quest Diagnostics by 2.7% in the second quarter. Acropolis Investment Management LLC now owns 4,600 shares of the medical research company’s stock worth $468,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.

Shares of NYSE:DGX traded down $0.22 on Tuesday, reaching $101.86. 71,085 shares of the company traded hands, compared to its average volume of 1,033,599. The business’s 50-day simple moving average is $101.39 and its 200 day simple moving average is $94.89. Quest Diagnostics Inc has a 52 week low of $78.95 and a 52 week high of $112.34. The stock has a market capitalization of $13.55 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 2.04 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period 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. Sell-side analysts expect that Quest Diagnostics Inc will post 6.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, October 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.08%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 33.60%.

A number of brokerages recently issued reports on DGX. ValuEngine upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Evercore ISI reiterated a “buy” rating and issued a $108.00 price objective on shares of Quest Diagnostics in a research report on Thursday, August 8th. Canaccord Genuity increased their price objective on Quest Diagnostics from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Credit Suisse Group increased their price objective on Quest Diagnostics from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley increased their price objective on Quest Diagnostics from $104.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Three 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 has a consensus rating of “Hold” and an average target price of $104.44.

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

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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