Nordea Investment Management AB lessened its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,722 shares of the medical research company’s stock after selling 232 shares during the quarter. Nordea Investment Management AB’s holdings in Quest Diagnostics were worth $1,192,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in shares of Quest Diagnostics by 55.9% in the second quarter. Meeder Asset Management Inc. now owns 34,817 shares of the medical research company’s stock valued at $3,870,000 after purchasing an additional 12,478 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Quest Diagnostics by 0.6% in the first quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock valued at $185,315,000 after purchasing an additional 11,399 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Quest Diagnostics by 4.0% in 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 purchasing an additional 18,968 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Quest Diagnostics by 12.7% in 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 purchasing an additional 3,719 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Quest Diagnostics by 76.1% in the second quarter. Alliancebernstein L.P. now owns 1,144,504 shares of the medical research company’s stock valued at $127,223,000 after purchasing an additional 494,535 shares during the last quarter. 87.10% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Daniel Stanzione sold 3,803 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total value of $410,762.03. Following the completion of the sale, the director now directly owns 35,359 shares in the company, valued at approximately $3,819,125.59. 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 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 sale, the director now 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 quarter, insiders sold 161,996 shares of company stock valued at $17,517,207. 1.75% of the stock is owned by insiders.

Quest Diagnostics Incorporated (NYSE DGX) opened at 92.42 on Friday. The stock’s 50 day moving average price is $102.30 and its 200 day moving average price is $105.00. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 18.63 and a beta of 0.65.

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

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

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DGX has been the subject of several recent research reports. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Quest Diagnostics in a report on Monday, September 25th. BidaskClub cut Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Bank of America Corporation raised Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price target for the company from $111.00 to $118.00 in a report on Tuesday, July 25th. Credit Suisse Group cut their target price on Quest Diagnostics from $110.00 to $99.00 and set a “neutral” rating for the company in a research note on Thursday, September 28th. Finally, Zacks Investment Research cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $110.41.

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).

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

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