Riverhead Capital Management LLC Sells 5,150 Shares of Quest Diagnostics Inc (NYSE:DGX)

Riverhead Capital Management LLC trimmed its position in Quest Diagnostics Inc (NYSE:DGX) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,205 shares of the medical research company’s stock after selling 5,150 shares during the quarter. Riverhead Capital Management LLC’s holdings in Quest Diagnostics were worth $4,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Pearl River Capital LLC purchased a new stake in shares of Quest Diagnostics in the 2nd quarter valued at approximately $28,000. Wealthcare Advisory Partners LLC purchased a new position in Quest Diagnostics during the 2nd quarter worth $29,000. Berman Capital Advisors LLC boosted its holdings in shares of Quest Diagnostics by 47.7% in the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 103 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Quest Diagnostics in the first quarter valued at about $42,000. Finally, CWM LLC lifted its stake in shares of Quest Diagnostics by 61.1% in the second quarter. CWM LLC now owns 464 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 90.89% of the company’s stock.

DGX has been the subject of a number of analyst reports. Evercore ISI reissued a “buy” rating and issued a $108.00 price objective on shares of Quest Diagnostics in a research report on Thursday, August 8th. Goldman Sachs Group lowered shares of Quest Diagnostics from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $90.00 to $85.00 in a research report on Monday, July 15th. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price objective on the stock in a research report on Wednesday, July 24th. Credit Suisse Group increased their price target on Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Canaccord Genuity raised their price objective on shares of Quest Diagnostics from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.06.

In related news, Chairman Stephen H. Rusckowski sold 244,565 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $24,456,500.00. Following the completion of the transaction, the chairman now owns 457,614 shares in the company, valued at approximately $45,761,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Guinan sold 73,005 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $100.00, for a total transaction of $7,300,500.00. Following the transaction, the insider now owns 139,022 shares of the company’s stock, valued at approximately $13,902,200. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by insiders.

Shares of DGX stock traded up $1.51 during midday trading on Friday, reaching $104.23. 58,279 shares of the stock were exchanged, compared to its average volume of 831,519. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm has a market cap of $13.83 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87. The company’s 50 day moving average is $101.19 and its two-hundred day moving average is $96.06. Quest Diagnostics Inc has a 1 year low of $78.95 and a 1 year high of $110.11.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 23rd. The medical research company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. Quest Diagnostics’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.75 EPS. As a group, equities analysts expect that Quest Diagnostics Inc will post 6.5 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, October 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is 33.60%.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

Read More: When is a capital gain realized?

Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.