New Mexico Educational Retirement Board Sells 600 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

New Mexico Educational Retirement Board cut its position in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,903 shares of the medical research company’s stock after selling 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Quest Diagnostics were worth $945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DGX. Humankind Investments LLC boosted its holdings in Quest Diagnostics by 13.5% in the 4th quarter. Humankind Investments LLC now owns 4,217 shares of the medical research company’s stock worth $730,000 after buying an additional 503 shares during the period. American Trust purchased a new position in shares of Quest Diagnostics during the 4th quarter valued at $258,000. BOKF NA grew its position in shares of Quest Diagnostics by 9.0% during the 4th quarter. BOKF NA now owns 49,743 shares of the medical research company’s stock valued at $8,606,000 after purchasing an additional 4,122 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. purchased a new position in shares of Quest Diagnostics during the 4th quarter valued at $38,000. Finally, apricus wealth LLC purchased a new position in shares of Quest Diagnostics during the 4th quarter valued at $1,735,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

Shares of Quest Diagnostics stock opened at $134.34 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.34 and a current ratio of 1.46. Quest Diagnostics Incorporated has a 52-week low of $125.33 and a 52-week high of $174.16. The stock has a market capitalization of $15.77 billion, a price-to-earnings ratio of 8.84 and a beta of 1.05. The company’s 50 day moving average price is $136.22 and its 200-day moving average price is $141.90.

Quest Diagnostics (NYSE:DGXGet Rating) last issued its earnings results on Thursday, April 21st. The medical research company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.31. Quest Diagnostics had a net margin of 17.61% and a return on equity of 27.08%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the business earned $3.76 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, July 5th. Quest Diagnostics’s dividend payout ratio is 17.58%.

DGX has been the subject of a number of recent analyst reports. UBS Group boosted their price target on shares of Quest Diagnostics from $139.00 to $150.00 in a research report on Sunday, April 24th. Bank of America dropped their price objective on shares of Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating for the company in a report on Friday, April 22nd. Citigroup downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $175.00 to $140.00 in a report on Monday, April 4th. Wells Fargo & Company lifted their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, April 25th. Finally, StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $150.33.

In related news, SVP Michael E. Prevoznik sold 50,604 shares of Quest Diagnostics stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $139.97, for a total value of $7,083,041.88. Following the sale, the senior vice president now owns 39,224 shares in the company, valued at $5,490,183.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen H. Rusckowski sold 282,408 shares of Quest Diagnostics stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $140.12, for a total transaction of $39,571,008.96. Following the completion of the sale, the chief executive officer now owns 334,833 shares in the company, valued at approximately $46,916,799.96. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

About Quest Diagnostics (Get Rating)

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

See Also

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGXGet Rating).

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

Want More Great Investing Ideas?

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.