AlphaCrest Capital Management LLC Has $1.77 Million Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

AlphaCrest Capital Management LLC cut its position in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 42.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,290 shares of the medical research company’s stock after selling 9,796 shares during the period. AlphaCrest Capital Management LLC’s holdings in Quest Diagnostics were worth $1,767,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DGX. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Quest Diagnostics by 5.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,867 shares of the medical research company’s stock worth $1,624,000 after acquiring an additional 654 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Quest Diagnostics in the first quarter worth $524,000. NorthCrest Asset Manangement LLC grew its holdings in shares of Quest Diagnostics by 515.2% during the second quarter. NorthCrest Asset Manangement LLC now owns 16,013 shares of the medical research company’s stock worth $2,129,000 after purchasing an additional 13,410 shares during the last quarter. Kentucky Retirement Systems increased its stake in shares of Quest Diagnostics by 14.8% in the second quarter. Kentucky Retirement Systems now owns 8,711 shares of the medical research company’s stock valued at $1,158,000 after buying an additional 1,126 shares in the last quarter. Finally, Argent Trust Co raised its holdings in shares of Quest Diagnostics by 1.4% in the first quarter. Argent Trust Co now owns 27,237 shares of the medical research company’s stock valued at $3,728,000 after buying an additional 374 shares during the last quarter. 88.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a research report on Thursday, October 20th. Morgan Stanley raised their price target on shares of Quest Diagnostics from $142.00 to $146.00 and gave the company an “equal weight” rating in a report on Friday, October 21st. Citigroup lowered Quest Diagnostics from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $145.00 to $125.00 in a research report on Thursday, November 17th. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Quest Diagnostics from $129.00 to $140.00 and gave the company a “hold” rating in a report on Friday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $148.50.

Insider Transactions at Quest Diagnostics

In related news, Director Timothy M. Ring sold 2,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $123.39, for a total transaction of $246,780.00. Following the sale, the director now owns 23,933 shares of the company’s stock, valued at approximately $2,953,092.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Michael J. Deppe sold 15,497 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $145.00, for a total transaction of $2,247,065.00. Following the completion of the sale, the chief accounting officer now owns 32,013 shares of the company’s stock, valued at $4,641,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy M. Ring sold 2,000 shares of Quest Diagnostics stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $123.39, for a total transaction of $246,780.00. Following the completion of the sale, the director now owns 23,933 shares in the company, valued at $2,953,092.87. The disclosure for this sale can be found here. Insiders have sold a total of 19,497 shares of company stock valued at $2,781,965 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Quest Diagnostics Stock Up 1.2 %

Shares of Quest Diagnostics stock opened at $148.46 on Thursday. The business has a fifty day simple moving average of $134.89 and a 200 day simple moving average of $134.74. The stock has a market cap of $16.91 billion, a PE ratio of 14.60 and a beta of 1.02. The company has a quick ratio of 1.34, a current ratio of 1.46 and a debt-to-equity ratio of 0.63. Quest Diagnostics Incorporated has a 12 month low of $120.40 and a 12 month high of $174.16.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its earnings results on Thursday, October 20th. The medical research company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.17. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.34 billion. Quest Diagnostics had a return on equity of 21.36% and a net margin of 12.00%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.96 EPS. Research analysts predict that Quest Diagnostics Incorporated will post 9.85 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Wednesday, January 18th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, January 17th. This represents a $2.64 annualized dividend and a yield of 1.78%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 25.96%.

Quest Diagnostics Profile

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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.

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

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