Comerica Bank trimmed its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 10.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,894 shares of the medical research company’s stock after selling 5,782 shares during the quarter. Comerica Bank’s holdings in Quest Diagnostics were worth $4,773,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Ardevora Asset Management LLP increased its stake in shares of Quest Diagnostics by 4.1% during the third quarter. Ardevora Asset Management LLP now owns 382,700 shares of the medical research company’s stock worth $35,836,000 after acquiring an additional 14,900 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Quest Diagnostics by 536.0% during the third quarter. Teacher Retirement System of Texas now owns 202,642 shares of the medical research company’s stock worth $18,975,000 after acquiring an additional 170,779 shares during the period. Rhumbline Advisers increased its stake in shares of Quest Diagnostics by 4.4% during the third quarter. Rhumbline Advisers now owns 321,003 shares of the medical research company’s stock worth $30,059,000 after acquiring an additional 13,503 shares during the period. Advisor Group Inc. increased its stake in shares of Quest Diagnostics by 12.8% during the third quarter. Advisor Group Inc. now owns 18,355 shares of the medical research company’s stock worth $1,720,000 after acquiring an additional 2,083 shares during the period. Finally, Strategy Asset Managers LLC acquired a new position in shares of Quest Diagnostics during the third quarter worth about $2,138,000. Institutional investors and hedge funds own 88.52% of the company’s stock.

In related news, Director Daniel Stanzione sold 3,803 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total transaction of $410,762.03. Following the transaction, the director now owns 35,359 shares of the company’s stock, valued at $3,819,125.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen H. Rusckowski sold 53,933 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the transaction, the chief executive officer now directly owns 220,049 shares in the company, valued at approximately $23,800,499.84. The disclosure for this sale can be found here. Insiders have sold 160,396 shares of company stock worth $17,343,852 in the last three months. Insiders own 1.75% of the company’s stock.

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Shares of Quest Diagnostics Incorporated (NYSE:DGX) opened at $92.52 on Thursday. Quest Diagnostics Incorporated has a fifty-two week low of $86.11 and a fifty-two week high of $112.96. The stock has a market cap of $12,602.24, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.93 and a beta of 0.59. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37.

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

A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Wednesday, August 2nd. ValuEngine lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Morgan Stanley upped their target price on shares of Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Finally, SunTrust Banks, Inc. set a $105.00 target price on shares of Quest Diagnostics and gave the stock a “hold” rating in a research report on Sunday, October 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $106.18.

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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