New York State Common Retirement Fund cut its holdings in Quest Diagnostics Inc (NYSE:DGX) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 491,477 shares of the medical research company’s stock after selling 22,617 shares during the period. New York State Common Retirement Fund owned 0.36% of Quest Diagnostics worth $46,022,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. APG Asset Management N.V. raised its position in shares of Quest Diagnostics by 156.0% during the 3rd quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock valued at $251,320,000 after buying an additional 1,635,700 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Quest Diagnostics by 9,350.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,451,774 shares of the medical research company’s stock valued at $161,379,000 after buying an additional 1,436,412 shares in the last quarter. AJO LP raised its position in shares of Quest Diagnostics by 137.9% during the 2nd quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock valued at $237,243,000 after buying an additional 1,237,021 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Quest Diagnostics by 316.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,043,889 shares of the medical research company’s stock valued at $116,035,000 after buying an additional 793,085 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Quest Diagnostics by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock valued at $1,559,500,000 after buying an additional 525,200 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Several research firms have recently weighed in on DGX. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Canaccord Genuity reiterated a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a research report on Wednesday, September 13th. BidaskClub upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Morgan Stanley lifted their target price on shares of Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $106.28.

In related news, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the completion of the sale, the chief executive officer now directly owns 220,049 shares in the company, valued at $23,800,499.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Stephen H. Rusckowski sold 59,235 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total transaction of $6,406,857.60. Following the sale, the chairman now owns 220,049 shares of the company’s stock, valued at $23,800,499.84. The disclosure for this sale can be found here. Insiders have sold a total of 154,068 shares of company stock worth $16,660,314 in the last ninety days. Insiders own 1.75% of the company’s stock.

Shares of Quest Diagnostics Inc (NYSE DGX) traded down $0.48 on Thursday, hitting $97.39. 1,026,200 shares of the stock were exchanged, compared to its average volume of 1,022,947. The company has a market cap of $13,339.62, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.04 and a beta of 0.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37. Quest Diagnostics Inc has a 52-week low of $87.83 and a 52-week high of $112.96.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. sell-side analysts expect that Quest Diagnostics Inc will post 5.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, January 8th. Quest Diagnostics’s payout ratio is 37.74%.

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Quest Diagnostics Company Profile

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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