Envestnet Asset Management Inc. Has $72.07 Million Stock Position in Quest Diagnostics Incorporated $DGX

Envestnet Asset Management Inc. cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 378,171 shares of the medical research company’s stock after selling 15,848 shares during the period. Envestnet Asset Management Inc.’s holdings in Quest Diagnostics were worth $72,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lebenthal Global Advisors LLC grew its stake in shares of Quest Diagnostics by 117.5% in the third quarter. Lebenthal Global Advisors LLC now owns 5,034 shares of the medical research company’s stock worth $959,000 after purchasing an additional 2,720 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in Quest Diagnostics during the 3rd quarter worth about $4,713,000. Pacer Advisors Inc. grew its position in shares of Quest Diagnostics by 2,531.6% in the 3rd quarter. Pacer Advisors Inc. now owns 450,898 shares of the medical research company’s stock valued at $85,932,000 after buying an additional 433,764 shares during the last quarter. TKG Advisors LLC grew its position in shares of Quest Diagnostics by 125.1% in the 3rd quarter. TKG Advisors LLC now owns 14,596 shares of the medical research company’s stock valued at $2,782,000 after buying an additional 8,112 shares during the last quarter. Finally, Ethic Inc. increased its stake in shares of Quest Diagnostics by 144.2% in the third quarter. Ethic Inc. now owns 14,424 shares of the medical research company’s stock valued at $2,749,000 after buying an additional 8,518 shares during the period. Institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on DGX. Mizuho upped their target price on Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Quest Diagnostics in a research report on Monday, December 29th. Wall Street Zen cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Leerink Partners lifted their target price on shares of Quest Diagnostics from $203.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, Jefferies Financial Group upped their price target on shares of Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.50.

Quest Diagnostics Stock Down 0.8%

Shares of NYSE DGX opened at $190.82 on Monday. The firm has a market cap of $21.23 billion, a PE ratio of 22.40, a P/E/G ratio of 2.41 and a beta of 0.66. Quest Diagnostics Incorporated has a 12-month low of $157.20 and a 12-month high of $197.55. The company’s fifty day simple moving average is $181.18 and its 200 day simple moving average is $181.37. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 13th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio is 37.56%.

Insider Activity

In other Quest Diagnostics news, SVP Mark E. Delaney sold 7,946 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total value of $1,488,683.10. Following the transaction, the senior vice president owned 7,530 shares in the company, valued at approximately $1,410,745.50. This represents a 51.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J. E. Davis sold 55,093 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total value of $10,589,976.46. Following the sale, the chief executive officer owned 120,480 shares of the company’s stock, valued at approximately $23,158,665.60. This represents a 31.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,289 shares of company stock worth $12,318,360 in the last three months. Company insiders own 8.16% of the company’s stock.

Quest Diagnostics Company Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.