Teacher Retirement System of Texas Makes New $2.76 Million Investment in Quest Diagnostics Incorporated (NYSE:DGX)

Teacher Retirement System of Texas acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 16,315 shares of the medical research company's stock, valued at approximately $2,760,000.

Other hedge funds also recently modified their holdings of the company. Bruce G. Allen Investments LLC lifted its position in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after acquiring an additional 67 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Quest Diagnostics by 76.6% in the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after acquiring an additional 82 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Quest Diagnostics by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock valued at $33,000 after acquiring an additional 118 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Quest Diagnostics during the first quarter worth $35,000. Finally, Continuum Advisory LLC grew its stake in shares of Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after buying an additional 222 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DGX. JPMorgan Chase & Co. boosted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Barclays upped their price objective on shares of Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. 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. Finally, Wall Street Zen downgraded shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Quest Diagnostics currently has an average rating of "Moderate Buy" and a consensus price target of $185.73.

Insider Activity at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 874 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $175.72, for a total transaction of $153,579.28. Following the transaction, the senior vice president owned 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.16% of the company's stock.

Quest Diagnostics Price Performance

NYSE DGX traded down $3.45 on Friday, hitting $168.00. The stock had a trading volume of 1,335,607 shares, compared to its average volume of 994,849. Quest Diagnostics Incorporated has a 52-week low of $137.71 and a 52-week high of $182.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.39 and a beta of 0.49. The firm has a 50-day moving average of $175.88 and a 200-day moving average of $168.43.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. Equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio is currently 40.46%.

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.