5,000 Quest Diagnostics Incorporated $DGX Shares Sold by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,900 shares of the medical research company’s stock after selling 5,000 shares during the quarter. Schwartz Investment Counsel Inc. owned 0.08% of Quest Diagnostics worth $21,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Quest Diagnostics during the 2nd quarter valued at approximately $1,965,923,000. Bank of America Corp DE bought a new stake in shares of Quest Diagnostics in the second quarter worth $410,151,000. Legal & General Group Plc bought a new stake in shares of Quest Diagnostics in the second quarter worth $151,986,000. Bank of New York Mellon Corp bought a new stake in shares of Quest Diagnostics in the second quarter worth $133,388,000. Finally, Deutsche Bank AG acquired a new stake in Quest Diagnostics in the second quarter valued at $124,180,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DGX shares. UBS Group reiterated a “neutral” rating and set a $250.00 price objective on shares of Quest Diagnostics in a research note on Monday, October 19th. Jefferies Financial Group reissued a “buy” rating and issued a $245.00 target price on shares of Quest Diagnostics in a research report on Thursday, July 23rd. Barclays upped their target price on shares of Quest Diagnostics from $250.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Argus set a $260.00 price target on shares of Quest Diagnostics in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Quest Diagnostics from a “buy (a)” rating to a “buy (a+)” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Quest Diagnostics Trading Down 0.3%

DGX opened at $242.19 on Wednesday. Quest Diagnostics Incorporated has a fifty-two week low of $171.18 and a fifty-two week high of $248.84. The company’s 50-day moving average price is $237.93 and its 200 day moving average price is $210.94.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, October 22nd. The medical research company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.13. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business earned $2.60 EPS. The business’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Quest Diagnostics Incorporated will post 11.30 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th were issued a $0.86 dividend. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $3.44 annualized dividend and a dividend yield of 1.4%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 22,677 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $243.11, for a total value of $5,513,005.47. Following the sale, the senior vice president directly owned 37,557 shares in the company, valued at approximately $9,130,482.27. This trade represents a 37.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $242.72, for a total value of $2,427,200.00. Following the completion of the sale, the chief executive officer owned 122,423 shares in the company, valued at $29,714,510.56. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.88% of the company’s stock.

Quest Diagnostics Profile

Quest Diagnostics Incorporated (NYSE: DGX) is a provider of diagnostic information services. The company performs laboratory testing that helps physicians, hospitals and other healthcare providers diagnose, treat and monitor diseases and health conditions. Its services include routine blood and other specimen testing, pathology, molecular and genetic testing, and specialized diagnostic services.

Quest Diagnostics serves a broad range of customers, including hospitals, physician practices, health plans, employers, government agencies and individual consumers.