New York State Common Retirement Fund boosted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 30.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 514,094 shares of the medical research company’s stock after buying an additional 120,433 shares during the period. New York State Common Retirement Fund owned about 0.38% of Quest Diagnostics worth $57,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Acrospire Investment Management LLC raised its holdings in Quest Diagnostics by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after buying an additional 1,200 shares during the period. Investec Asset Management LTD raised its holdings in Quest Diagnostics by 9.4% during the 2nd quarter. Investec Asset Management LTD now owns 2,178,678 shares of the medical research company’s stock worth $242,182,000 after buying an additional 186,477 shares during the period. Investec Asset Management North America Inc. raised its holdings in Quest Diagnostics by 7.0% during the 2nd quarter. Investec Asset Management North America Inc. now owns 14,727 shares of the medical research company’s stock worth $1,637,000 after buying an additional 966 shares during the period. Thrivent Financial For Lutherans raised its holdings in Quest Diagnostics by 2.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 5,200 shares of the medical research company’s stock worth $578,000 after buying an additional 100 shares during the period. Finally, Profund Advisors LLC raised its holdings in Quest Diagnostics by 6.1% during the 2nd quarter. Profund Advisors LLC now owns 6,020 shares of the medical research company’s stock worth $669,000 after buying an additional 347 shares during the period. Hedge funds and other institutional investors own 87.10% of the company’s stock.

In related news, CEO Stephen H. Rusckowski sold 53,933 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the completion of the transaction, the chief executive officer now directly owns 220,049 shares in the company, valued at $23,800,499.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Stephen H. Rusckowski sold 2,525 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.03, for a total value of $272,775.75. Following the transaction, the chairman now owns 168,413 shares of the company’s stock, valued at $18,193,656.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,996 shares of company stock worth $17,517,207. 1.75% of the stock is currently owned by insiders.

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Several analysts have issued reports on the company. UBS AG boosted their price objective on Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 6th. Barclays PLC restated a “hold” rating and set a $110.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 19th. Evercore ISI restated an “in-line” rating and set a $104.50 price objective on shares of Quest Diagnostics in a report on Wednesday, June 28th. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Canaccord Genuity restated a “buy” rating and set a $118.00 price objective on shares of Quest Diagnostics in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Quest Diagnostics currently has an average rating of “Buy” and a consensus price target of $111.09.

Quest Diagnostics Incorporated (DGX) opened at 101.80 on Thursday. The firm’s 50-day moving average price is $106.58 and its 200 day moving average price is $105.42. The stock has a market cap of $13.89 billion, a PE ratio of 20.52 and a beta of 0.69. Quest Diagnostics Incorporated has a 1-year low of $79.12 and a 1-year high of $112.97.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. Quest Diagnostics’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 earnings per share. Equities research analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is currently 36.29%.

Quest Diagnostics 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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