Oppenheimer Asset Management Inc. Sells 78 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Oppenheimer Asset Management Inc. trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,175 shares of the medical research company’s stock after selling 78 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Quest Diagnostics were worth $338,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DGX. Rothschild Investment LLC bought a new position in shares of Quest Diagnostics in the second quarter worth approximately $26,000. Larson Financial Group LLC increased its holdings in shares of Quest Diagnostics by 77.5% in the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Quest Diagnostics during the second quarter valued at $31,000. TruNorth Capital Management LLC bought a new stake in Quest Diagnostics in the 2nd quarter worth about $33,000. Finally, EdgeRock Capital LLC purchased a new position in Quest Diagnostics in the 2nd quarter worth about $35,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,775 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now owns 9,734 shares in the company, valued at $1,527,459.28. This represents a 15.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the transaction, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This trade represents a 34.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,520 shares of company stock valued at $3,472,728. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics Stock Up 0.1 %

Shares of NYSE:DGX opened at $161.38 on Thursday. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.77 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $154.31 and a 200 day moving average price of $147.89. Quest Diagnostics Incorporated has a 12 month low of $123.04 and a 12 month high of $162.88.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $2.22 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 annualized dividend and a yield of 1.86%. Quest Diagnostics’s payout ratio is currently 40.32%.

Analyst Ratings Changes

Several brokerages recently commented on DGX. Citigroup lifted their price objective on Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird upgraded shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Evercore ISI began coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price for the company. UBS Group increased their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Mizuho boosted their price objective on shares of Quest Diagnostics from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $164.58.

About Quest Diagnostics

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.