Quest Diagnostics Incorporated (DGX) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,165 shares of the medical research company’s stock after selling 34 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Quest Diagnostics were worth $1,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its position in Quest Diagnostics by 55.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 34,817 shares of the medical research company’s stock worth $3,870,000 after purchasing an additional 12,478 shares in the last quarter. Bank of America Corp DE grew its position in Quest Diagnostics by 0.6% during the 1st quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock worth $185,315,000 after purchasing an additional 11,399 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Quest Diagnostics during the 1st quarter worth approximately $458,000. Chicago Equity Partners LLC grew its position in Quest Diagnostics by 9.3% during the 1st quarter. Chicago Equity Partners LLC now owns 2,700 shares of the medical research company’s stock worth $265,000 after purchasing an additional 230 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Quest Diagnostics by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock worth $54,171,000 after purchasing an additional 18,968 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

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Several equities analysts have weighed in on DGX shares. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Canaccord Genuity reiterated a “buy” rating and set a $118.00 price objective on shares of Quest Diagnostics in a research report on Tuesday, June 13th. Bank of America Corporation reiterated a “neutral” rating and set a $110.00 price objective (up from $105.00) on shares of Quest Diagnostics in a research report on Sunday, May 28th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a research report on Tuesday, May 23rd. Finally, ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $111.09.

Shares of Quest Diagnostics Incorporated (NYSE DGX) opened at 107.54 on Monday. The firm has a market cap of $14.67 billion, a price-to-earnings ratio of 21.67 and a beta of 0.69. The company has a 50 day moving average of $107.24 and a 200 day moving average of $104.88. Quest Diagnostics Incorporated has a 1-year low of $79.12 and a 1-year high of $112.96.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 earnings per share. On average, equities analysts forecast that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is currently 36.29%.

In related news, 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 value of $141,783.92. Following the completion of the transaction, the director now owns 6,296 shares of the company’s stock, valued at $684,564.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Catherine T. Doherty sold 59,762 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the completion of the transaction, the senior vice president now directly owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,690 shares of company stock valued at $7,284,296. 1.75% of the stock is owned by insiders.

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).

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

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