Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management lessened its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 42.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 250 shares of the medical research company’s stock after selling 184 shares during the period. Hollencrest Capital Management’s holdings in Quest Diagnostics were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics during the fourth quarter valued at approximately $33,000. Versant Capital Management Inc raised its stake in Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN purchased a new position in Quest Diagnostics in the 4th quarter valued at $38,000. FPC Investment Advisory Inc. acquired a new stake in Quest Diagnostics during the 4th quarter worth $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at about $49,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DGX has been the subject of several analyst reports. UBS Group upped their target price on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird set a $189.00 price target on shares of Quest Diagnostics in a research note on Friday, January 31st. Finally, Bank of America lifted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.23.

Insider Activity

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. This represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares of the company’s stock, valued at $12,109,826.76. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,514 shares of company stock worth $1,634,445. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Price Performance

DGX opened at $166.43 on Thursday. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.16 and a beta of 0.92. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The stock’s 50-day moving average price is $162.84 and its 200 day moving average price is $157.94. Quest Diagnostics Incorporated has a 12-month low of $125.09 and a 12-month high of $178.87.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Quest Diagnostics Company 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.