Quest Diagnostics Inc (DGX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,259 shares of the medical research company’s stock after selling 2,212 shares during the quarter. New York State Teachers Retirement System’s holdings in Quest Diagnostics were worth $17,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Advantage Inc. boosted its holdings in Quest Diagnostics by 0.4% during the first quarter. Financial Advantage Inc. now owns 30,212 shares of the medical research company’s stock worth $2,716,000 after buying an additional 128 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Quest Diagnostics by 32.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock worth $45,000 after buying an additional 134 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in Quest Diagnostics by 2.2% during the first quarter. LS Investment Advisors LLC now owns 6,296 shares of the medical research company’s stock worth $566,000 after buying an additional 138 shares in the last quarter. ETF Managers Group LLC boosted its holdings in Quest Diagnostics by 17.7% during the fourth quarter. ETF Managers Group LLC now owns 1,322 shares of the medical research company’s stock worth $110,000 after buying an additional 199 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Quest Diagnostics by 2.7% during the first quarter. Janney Montgomery Scott LLC now owns 7,676 shares of the medical research company’s stock worth $690,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

DGX has been the subject of a number of research reports. Mizuho set a $106.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a research note on Friday, February 15th. Barclays reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Quest Diagnostics in a research note on Friday, February 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Quest Diagnostics in a research note on Monday, February 18th. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $93.00 to $107.00 in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $102.41.

In other news, SVP Catherine T. Doherty sold 66,382 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $90.59, for a total transaction of $6,013,545.38. Following the transaction, the senior vice president now owns 133,908 shares in the company, valued at approximately $12,130,725.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J. E. Davis sold 47,574 shares of Quest Diagnostics stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $95.00, for a total transaction of $4,519,530.00. Following the completion of the transaction, the executive vice president now owns 84,108 shares in the company, valued at approximately $7,990,260. The disclosure for this sale can be found here. Insiders have sold a total of 135,680 shares of company stock worth $12,454,759 in the last 90 days. 1.86% of the stock is owned by insiders.

Quest Diagnostics stock opened at $97.23 on Monday. The firm has a market cap of $13.07 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. Quest Diagnostics Inc has a 1-year low of $78.95 and a 1-year high of $116.49.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a net margin of 9.59% and a return on equity of 14.99%. Quest Diagnostics’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $152.00 EPS. On average, research analysts expect that Quest Diagnostics Inc will post 6.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, July 5th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.18%. Quest Diagnostics’s dividend payout ratio is currently 33.60%.

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Quest Diagnostics Company Profile

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.

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

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