Retirement Systems of Alabama cut its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,340 shares of the medical research company’s stock after selling 122 shares during the period. Retirement Systems of Alabama’s holdings in Quest Diagnostics were worth $7,374,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Schnieders Capital Management LLC increased its stake in Quest Diagnostics by 0.3% in the second quarter. Schnieders Capital Management LLC now owns 2,366 shares of the medical research company’s stock worth $263,000 after buying an additional 6 shares during the last quarter. First American Trust FSB increased its stake in Quest Diagnostics by 0.3% in the second quarter. First American Trust FSB now owns 4,395 shares of the medical research company’s stock worth $489,000 after buying an additional 14 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after buying an additional 18 shares during the last quarter. Hills Bank & Trust Co. increased its stake in Quest Diagnostics by 1.4% in the second quarter. Hills Bank & Trust Co. now owns 2,560 shares of the medical research company’s stock worth $285,000 after buying an additional 35 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its stake in Quest Diagnostics by 0.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 4,300 shares of the medical research company’s stock worth $478,000 after buying an additional 40 shares during the last quarter. Institutional investors own 90.06% of the company’s stock.

Quest Diagnostics Incorporated (NYSE:DGX) opened at 106.46 on Tuesday. The stock has a market cap of $14.52 billion, a PE ratio of 21.46 and a beta of 0.69. The company’s 50 day moving average is $108.73 and its 200-day moving average is $103.30. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.96.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. 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 previous year, the firm earned $1.34 earnings per share. Quest Diagnostics’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current year.

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A number of analysts have commented on the stock. UBS AG reiterated a “buy” rating and issued a $115.00 price objective (up previously from $102.00) on shares of Quest Diagnostics in a report on Tuesday, April 25th. Evercore ISI reiterated an “in-line” rating and issued a $104.50 price objective on shares of Quest Diagnostics in a report on Wednesday, June 28th. Barclays PLC reiterated a “hold” rating and issued a $110.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 19th. BidaskClub upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Mizuho increased their price objective on shares of Quest Diagnostics from $115.00 to $122.00 and gave the company a “buy” rating in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $109.62.

In related news, Director Jeffrey M. Leiden sold 1,304 shares of the business’s stock in a transaction that occurred 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 directly owns 6,296 shares in the company, valued at $684,564.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 296 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $639,960. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,362 shares of company stock valued at $6,600,758. 1.50% of the stock is owned by insiders.

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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