Empowered Funds LLC Purchases 9,559 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Empowered Funds LLC increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 92.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,920 shares of the medical research company’s stock after acquiring an additional 9,559 shares during the period. Empowered Funds LLC’s holdings in Quest Diagnostics were worth $3,093,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DGX. Rothschild Investment LLC acquired a new position in shares of Quest Diagnostics in the second quarter valued at approximately $26,000. Innealta Capital LLC bought a new stake in Quest Diagnostics during the 2nd quarter worth approximately $31,000. Larson Financial Group LLC increased its position in Quest Diagnostics by 77.5% in 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 period. TruNorth Capital Management LLC bought a new position in shares of Quest Diagnostics during the second quarter valued at $33,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth $35,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DGX. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Monday. Evercore ISI started coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective for the company. Citigroup upped their target price on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Mizuho raised their price target on shares of Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Baird R W upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $164.58.

Quest Diagnostics Trading Up 1.0 %

DGX opened at $162.11 on Tuesday. The company has a fifty day moving average price of $153.99 and a two-hundred day moving average price of $147.54. Quest Diagnostics Incorporated has a 1-year low of $123.04 and a 1-year high of $162.72. The company has a market cap of $18.09 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business earned $2.22 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts predict that Quest Diagnostics Incorporated will post 8.9 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 14th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.85%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics’s payout ratio is currently 40.32%.

Insider Buying and Selling at Quest Diagnostics

In related news, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the transaction, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. This trade represents a 15.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,520 shares of company stock worth $3,472,728. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Profile

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.