Barings LLC held its stake in Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,687 shares of the medical research company’s stock at the end of the second quarter. Barings LLC’s holdings in Quest Diagnostics were worth $2,031,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Schnieders Capital Management LLC increased its position in Quest Diagnostics by 0.3% during the second quarter. Schnieders Capital Management LLC now owns 2,366 shares of the medical research company’s stock worth $263,000 after buying an additional 6 shares during the last quarter. Parallel Advisors LLC increased its position in Quest Diagnostics by 0.9% during the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock worth $140,000 after buying an additional 12 shares during the last quarter. First American Trust FSB increased its position in Quest Diagnostics by 0.3% during the second quarter. First American Trust FSB now owns 4,395 shares of the medical research company’s stock worth $489,000 after buying an additional 14 shares during the last quarter. Hills Bank & Trust Co. increased its position in Quest Diagnostics by 1.4% during the second quarter. Hills Bank & Trust Co. now owns 2,560 shares of the medical research company’s stock worth $285,000 after buying an additional 35 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in Quest Diagnostics by 0.9% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 4,300 shares of the medical research company’s stock worth $478,000 after buying an additional 40 shares during the last quarter. 87.10% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Incorporated (NYSE:DGX) opened at 92.42 on Friday. The firm has a market capitalization of $12.61 billion, a P/E ratio of 18.63 and a beta of 0.65. The firm’s 50-day moving average is $102.30 and its 200 day moving average is $105.00. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $1.34 EPS. Quest Diagnostics’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts expect that Quest Diagnostics Incorporated will post $5.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s payout ratio is 36.29%.

In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 296 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $106.66, for a total value of $31,571.36. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $639,960. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at $684,564.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 161,996 shares of company stock valued at $17,517,207. Insiders own 1.75% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub raised Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Wednesday, August 2nd. Barclays PLC restated a “hold” rating and set a $110.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 19th. Canaccord Genuity restated a “buy” rating and set a $118.00 price objective on shares of Quest Diagnostics in a report on Tuesday, June 13th. Finally, Morgan Stanley boosted their price objective on Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $110.41.

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About Quest Diagnostics

Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).

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

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