Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,779 shares of the medical research company’s stock after selling 598 shares during the period. Retirement Systems of Alabama’s holdings in Quest Diagnostics were worth $3,417,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DGX. Stratos Wealth Partners LTD. acquired a new stake in Quest Diagnostics during the 3rd quarter worth approximately $205,000. Verdence Capital Advisors LLC lifted its holdings in shares of Quest Diagnostics by 11.0% during the third quarter. Verdence Capital Advisors LLC now owns 5,062 shares of the medical research company’s stock worth $617,000 after purchasing an additional 502 shares during the period. Mackenzie Financial Corp grew its position in Quest Diagnostics by 112.9% in the 3rd quarter. Mackenzie Financial Corp now owns 36,093 shares of the medical research company’s stock valued at $4,368,000 after buying an additional 19,142 shares during the last quarter. IFM Investors Pty Ltd increased its stake in Quest Diagnostics by 8.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 25,110 shares of the medical research company’s stock valued at $3,060,000 after buying an additional 2,025 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Quest Diagnostics by 2.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,910 shares of the medical research company’s stock worth $5,595,000 after buying an additional 1,281 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DGX shares. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Barclays raised their price target on Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Leerink Partnrs restated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Citigroup increased their price objective on Quest Diagnostics from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Truist Financial boosted their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Quest Diagnostics has a consensus rating of “Hold” and an average target price of $146.17.

Quest Diagnostics Stock Up 1.0 %

DGX stock opened at $136.96 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.89. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $145.58. The firm has a market capitalization of $15.21 billion, a PE ratio of 18.43, a P/E/G ratio of 2.98 and a beta of 0.88. The company’s 50 day simple moving average is $130.73 and its 200-day simple moving average is $132.01.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 earnings per share. Equities analysts expect that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current fiscal year.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $103,560.94. Following the completion of the sale, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at approximately $8,930,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $103,560.94. Following the sale, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at approximately $8,930,712. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 1,760 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $140.00, for a total transaction of $246,400.00. Following the transaction, the senior vice president now directly owns 13,435 shares of the company’s stock, valued at approximately $1,880,900. The disclosure for this sale can be found here. Insiders sold a total of 16,910 shares of company stock worth $2,159,602 over the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics Profile

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