Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,625 shares of the medical research company's stock after selling 12,645 shares during the period. California State Teachers Retirement System owned 0.15% of Quest Diagnostics worth $25,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in Quest Diagnostics during the fourth quarter worth about $33,000. FPC Investment Advisory Inc. bought a new position in Quest Diagnostics during the fourth quarter worth about $45,000. SBI Securities Co. Ltd. bought a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $54,000. Sandy Spring Bank raised its stake in shares of Quest Diagnostics by 142.5% in the fourth quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock valued at $73,000 after acquiring an additional 285 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Quest Diagnostics by 45.3% in the 4th quarter. Global Retirement Partners LLC now owns 555 shares of the medical research company's stock worth $84,000 after purchasing an additional 173 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded down $0.59 during midday trading on Tuesday, reaching $173.81. 147,116 shares of the stock were exchanged, compared to its average volume of 985,319. The company's fifty day moving average is $171.06 and its 200-day moving average is $164.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market cap of $19.40 billion, a PE ratio of 22.60, a PEG ratio of 2.16 and a beta of 0.52. Quest Diagnostics Incorporated has a 52 week low of $135.47 and a 52 week high of $179.99.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. On average, sell-side analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.84%. Quest Diagnostics's dividend payout ratio is 40.46%.

Insider Transactions at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the sale, the senior vice president now directly owns 8,372 shares in the company, valued at $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Catherine T. Doherty sold 5,370 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total transaction of $935,078.10. Following the transaction, the executive vice president now directly owns 68,068 shares in the company, valued at $11,852,680.84. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,633 shares of company stock valued at $8,914,433. Company insiders own 8.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DGX shares. Wall Street Zen raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a report on Friday. Mizuho boosted their price target on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Redburn Atlantic began coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 target price on the stock. Piper Sandler raised their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Redburn Partners set a $195.00 price target on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $185.73.

About Quest Diagnostics

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.