Axxcess Wealth Management LLC Sells 996 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Axxcess Wealth Management LLC lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,525 shares of the medical research company’s stock after selling 996 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Quest Diagnostics were worth $1,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new stake in shares of Quest Diagnostics in the 2nd quarter valued at $26,000. Spartan Planning & Wealth Management acquired a new stake in shares of Quest Diagnostics in the fourth quarter worth about $31,000. Innealta Capital LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter worth about $31,000. Larson Financial Group LLC increased its holdings in shares of Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Quest Diagnostics during the 1st quarter valued at about $33,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

Shares of DGX stock opened at $155.48 on Thursday. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $159.36. The company has a market capitalization of $17.27 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.80 and a beta of 0.89. The stock has a 50 day moving average of $150.20 and a two-hundred day moving average of $140.58. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.30 earnings per share. As a group, equities analysts expect that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is 40.38%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Mark E. Delaney sold 420 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the sale, the senior vice president now owns 5,019 shares in the company, valued at $718,118.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays upped their target price on Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. Evercore ISI assumed coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective for the company. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird raised their price target on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Quest Diagnostics has an average rating of “Hold” and an average price target of $154.33.

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.