SVB Wealth LLC Trims Position in Quest Diagnostics Incorporated $DGX

SVB Wealth LLC trimmed its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 18.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,648 shares of the medical research company’s stock after selling 5,101 shares during the period. SVB Wealth LLC’s holdings in Quest Diagnostics were worth $4,316,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. MTM Investment Management LLC bought a new stake in Quest Diagnostics during the second quarter valued at about $29,000. True Wealth Design LLC grew its position in shares of Quest Diagnostics by 369.7% during the third quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock worth $30,000 after purchasing an additional 122 shares in the last quarter. AlphaQuest LLC raised its stake in Quest Diagnostics by 18,400.0% during the 2nd quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 184 shares during the period. First Horizon Corp purchased a new position in Quest Diagnostics in the 3rd quarter worth approximately $33,000. Finally, Ameritas Advisory Services LLC bought a new position in Quest Diagnostics in the 2nd quarter worth approximately $35,000. Institutional investors own 88.06% of the company’s stock.

Insiders Place Their Bets

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

Quest Diagnostics Stock Up 0.3%

Shares of NYSE DGX opened at $191.30 on Tuesday. The company has a market cap of $21.28 billion, a P/E ratio of 22.45, a PEG ratio of 2.41 and a beta of 0.66. The firm has a 50-day simple moving average of $181.33 and a two-hundred day simple moving average of $181.51. Quest Diagnostics Incorporated has a 1 year low of $157.20 and a 1 year high of $197.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.04.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective 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. Morgan Stanley set a $207.00 price target on shares of Quest Diagnostics and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Barclays upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and set a $210.00 price objective for the company in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quest Diagnostics in a research report on Monday, December 29th. Finally, Mizuho raised their price target on Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, October 17th. 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 MarketBeat.com, Quest Diagnostics has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

About Quest Diagnostics

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.