Exxonmobil Investment Management Inc. TX cut its stake in shares of Quest Diagnostics Inc. (NYSE:DGX) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,496 shares of the company’s stock after selling 1,120 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Quest Diagnostics were worth $3,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DGX. Acropolis Investment Management LLC increased its position in shares of Quest Diagnostics by 5.6% in the third quarter. Acropolis Investment Management LLC now owns 6,180 shares of the company’s stock valued at $523,000 after buying an additional 325 shares during the last quarter. First American Trust FSB increased its position in Quest Diagnostics by 38.6% in the third quarter. First American Trust FSB now owns 4,347 shares of the company’s stock worth $368,000 after buying an additional 1,211 shares in the last quarter. Eqis Capital Management Inc. increased its position in Quest Diagnostics by 0.7% in the third quarter. Eqis Capital Management Inc. now owns 11,270 shares of the company’s stock worth $954,000 after buying an additional 83 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Quest Diagnostics during the second quarter worth approximately $465,000. Finally, Kentucky Retirement Systems bought a new position in Quest Diagnostics during the second quarter worth approximately $979,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

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

Quest Diagnostics Inc. (NYSE:DGX) traded down 1.45% during trading on Wednesday, hitting $87.46. The stock had a trading volume of 1,422,105 shares. Quest Diagnostics Inc. has a 52 week low of $59.66 and a 52 week high of $89.16. The firm has a market cap of $12.13 billion, a PE ratio of 18.56 and a beta of 0.62. The company’s 50-day moving average is $83.62 and its 200 day moving average is $82.40.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 20th. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Quest Diagnostics had a return on equity of 14.57% and a net margin of 9.01%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts expect that Quest Diagnostics Inc. will post $5.10 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Tuesday, January 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.06%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.40. Quest Diagnostics’s payout ratio is 34.04%.

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A number of research analysts have recently commented on DGX shares. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Wednesday, September 21st. Canaccord Genuity set a $90.00 price objective on shares of Quest Diagnostics and gave the company a “buy” rating in a research note on Wednesday, September 14th. Barclays PLC set a $85.00 price objective on shares of Quest Diagnostics and gave the company a “hold” rating in a research note on Monday, November 14th. Mizuho reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Quest Diagnostics in a research note on Wednesday. Finally, Citigroup Inc. started coverage on shares of Quest Diagnostics in a research note on Friday, September 9th. They set a “neutral” rating and a $86.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus target price of $83.14.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.

5 Day Chart for NYSE:DGX

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