Balyasny Asset Management L.P. Sells 67,049 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Balyasny Asset Management L.P. lessened its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,563 shares of the medical research company's stock after selling 67,049 shares during the period. Balyasny Asset Management L.P. owned 0.10% of Quest Diagnostics worth $16,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DGX. Bayesian Capital Management LP bought a new stake in Quest Diagnostics during the fourth quarter worth about $1,780,000. Benjamin Edwards Inc. raised its position in shares of Quest Diagnostics by 7.0% in the 4th quarter. Benjamin Edwards Inc. now owns 4,673 shares of the medical research company's stock valued at $705,000 after buying an additional 304 shares in the last quarter. Advanced Portfolio Management LLC bought a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $342,000. Wahed Invest LLC boosted its position in shares of Quest Diagnostics by 6.0% during the 4th quarter. Wahed Invest LLC now owns 2,856 shares of the medical research company's stock worth $431,000 after acquiring an additional 162 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Quest Diagnostics by 4,796.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 86,022 shares of the medical research company's stock worth $12,977,000 after acquiring an additional 84,265 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DGX shares. StockNews.com lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Robert W. Baird lifted their target price on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. UBS Group boosted their target price on Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Mizuho raised their price target on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Evercore ISI upped their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research report on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

Insider Activity at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 5,370 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total value of $935,078.10. Following the completion of the sale, the executive vice president now directly owns 68,068 shares in the company, valued at $11,852,680.84. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael E. Prevoznik sold 528 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total value of $91,138.08. Following the completion of the transaction, the senior vice president now owns 39,031 shares in the company, valued at approximately $6,737,140.91. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,250 shares of company stock worth $9,188,295 in the last quarter. Company insiders own 8.16% of the company's stock.

Quest Diagnostics Trading Up 0.6 %

Quest Diagnostics stock traded up $1.06 during mid-day trading on Friday, hitting $176.96. 1,309,977 shares of the stock were exchanged, compared to its average volume of 973,327. The firm's fifty day simple moving average is $169.70 and its two-hundred day simple moving average is $162.89. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 12 month low of $135.47 and a 12 month high of $179.32. The stock has a market capitalization of $19.75 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

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.