Ontario Teachers Pension Plan Board reduced its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 83.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,819 shares of the medical research company’s stock after selling 13,833 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Quest Diagnostics were worth $253,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC grew its holdings in shares of Quest Diagnostics by 1.5% during the third quarter. TIAA CREF Investment Management LLC now owns 347,783 shares of the medical research company’s stock worth $37,529,000 after buying an additional 5,129 shares during the last quarter. Vanguard Group Inc raised its holdings in Quest Diagnostics by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 14,500,290 shares of the medical research company’s stock valued at $1,564,725,000 after acquiring an additional 201,951 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Quest Diagnostics by 32.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 134 shares during the last quarter. Dupont Capital Management Corp raised its holdings in Quest Diagnostics by 44.8% in the 4th quarter. Dupont Capital Management Corp now owns 1,741 shares of the medical research company’s stock valued at $145,000 after acquiring an additional 539 shares during the last quarter. Finally, TD Asset Management Inc. grew its stake in shares of Quest Diagnostics by 54.3% during the 4th quarter. TD Asset Management Inc. now owns 66,197 shares of the medical research company’s stock valued at $5,512,000 after buying an additional 23,292 shares during the period. 91.67% of the stock is owned by hedge funds and other institutional investors.

DGX traded down $0.20 on Wednesday, hitting $98.72. 14,124 shares of the company’s stock were exchanged, compared to its average volume of 1,236,291. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.85. Quest Diagnostics Inc has a twelve month low of $78.95 and a twelve month high of $116.49. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.04. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Quest Diagnostics had a net margin of 9.59% and a return on equity of 14.99%. Quest Diagnostics’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $152.00 earnings per share. Research analysts anticipate that Quest Diagnostics Inc will post 6.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a $0.53 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.12 annualized dividend and a dividend yield of 2.15%. Quest Diagnostics’s payout ratio is currently 33.60%.

A number of brokerages recently weighed in on DGX. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Mizuho set a $110.00 price objective on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Monday, May 20th. UBS Group upped their price objective on shares of Quest Diagnostics from $91.00 to $99.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. ValuEngine raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Morgan Stanley upped their price objective on shares of Quest Diagnostics from $98.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. Quest Diagnostics has a consensus rating of “Hold” and an average target price of $102.12.

In other Quest Diagnostics news, SVP Catherine T. Doherty sold 66,382 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $90.59, for a total value of $6,013,545.38. Following the sale, the senior vice president now owns 133,908 shares in the company, valued at $12,130,725.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J. E. Davis sold 8,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $90.29, for a total transaction of $722,320.00. Following the completion of the transaction, the executive vice president now owns 38,634 shares of the company’s stock, valued at $3,488,263.86. The disclosure for this sale can be found here. Insiders sold 121,956 shares of company stock worth $11,255,395 in the last 90 days. 1.86% of the stock is owned by company insiders.

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Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

Further Reading: Market Capitalization and Individual Investors

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

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