Gerber Kawasaki Wealth & Investment Management Buys 3,404 Shares of Quest Diagnostics Incorporated $DGX

Gerber Kawasaki Wealth & Investment Management increased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 60.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,029 shares of the medical research company’s stock after purchasing an additional 3,404 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Quest Diagnostics were worth $2,105,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Next Level Wealth Planning LLC bought a new position in Quest Diagnostics during the third quarter valued at $25,000. Ancora Advisors LLC purchased a new stake in Quest Diagnostics in the second quarter worth $29,000. Frazier Financial Advisors LLC raised its stake in shares of Quest Diagnostics by 492.9% in the first quarter. Frazier Financial Advisors LLC now owns 166 shares of the medical research company’s stock valued at $33,000 after buying an additional 138 shares during the period. Manchester Capital Management LLC raised its stake in shares of Quest Diagnostics by 92.2% in the third quarter. Manchester Capital Management LLC now owns 198 shares of the medical research company’s stock valued at $46,000 after buying an additional 95 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Quest Diagnostics in the second quarter valued at $45,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 1.6%

NYSE:DGX opened at $246.68 on Wednesday. The company has a market cap of $27.14 billion, a P/E ratio of 24.57, a P/E/G ratio of 2.25 and a beta of 0.55. The stock’s fifty day moving average price is $238.71 and its two-hundred day moving average price is $212.70. Quest Diagnostics Incorporated has a 1 year low of $171.18 and a 1 year high of $256.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.70 and a quick ratio of 1.58.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, October 22nd. The medical research company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.13. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.05 billion. Quest Diagnostics had a return on equity of 16.21% and a net margin of 9.53%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. As a group, analysts expect that Quest Diagnostics Incorporated will post 11.29 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $3.44 dividend on an annualized basis and a yield of 1.4%. Quest Diagnostics’s dividend payout ratio is 34.26%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael Prevoznik sold 22,677 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president owned 37,557 shares in the company, valued at $9,130,482.27. This trade represents a 37.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. Davis sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $242.72, for a total value of $2,427,200.00. Following the completion of the transaction, the chief executive officer owned 122,423 shares of the company’s stock, valued at approximately $29,714,510.56. This represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 33,880 shares of company stock valued at $8,232,534. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DGX. Wall Street Zen raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. UBS Group reissued a “neutral” rating and issued a $250.00 price objective on shares of Quest Diagnostics in a report on Monday, October 19th. Jefferies Financial Group restated a “buy” rating and issued a $245.00 price objective on shares of Quest Diagnostics in a research note on Thursday, July 23rd. Finally, Barclays upped their price objective on shares of Quest Diagnostics from $250.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Moderate Buy” and an average price target of $248.70.

About Quest Diagnostics

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.