California Public Employees Retirement System Has $38.56 Million Holdings in Quest Diagnostics Inc (DGX)

California Public Employees Retirement System boosted its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,800 shares of the medical research company’s stock after purchasing an additional 26,980 shares during the period. California Public Employees Retirement System owned approximately 0.30% of Quest Diagnostics worth $38,561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DGX. Robeco Institutional Asset Management B.V. increased its position in shares of Quest Diagnostics by 4.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock valued at $102,331,000 after acquiring an additional 48,921 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Quest Diagnostics by 4.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock valued at $54,171,000 after acquiring an additional 18,968 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Quest Diagnostics by 6.6% during the second quarter. Commonwealth Bank of Australia now owns 22,604 shares of the medical research company’s stock valued at $2,511,000 after acquiring an additional 1,398 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Quest Diagnostics by 12.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 33,104 shares of the medical research company’s stock valued at $3,680,000 after acquiring an additional 3,719 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Quest Diagnostics during the second quarter valued at about $224,000. 89.20% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and set a $118.00 price target on shares of Quest Diagnostics in a research report on Wednesday, September 13th. Craig Hallum reiterated a “hold” rating and set a $100.00 price target (down from $110.00) on shares of Quest Diagnostics in a research report on Tuesday, October 17th. SunTrust Banks set a $105.00 price objective on shares of Quest Diagnostics and gave the company a “hold” rating in a report on Sunday, October 15th. Mizuho set a $103.00 price objective on shares of Quest Diagnostics and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research cut shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $106.28.

Quest Diagnostics Inc (NYSE:DGX) opened at $98.99 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Quest Diagnostics Inc has a twelve month low of $90.10 and a twelve month high of $112.96. The company has a market cap of $13,237.40, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 2.02 and a beta of 0.60.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.74%.

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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).

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

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