BlueMountain Capital Management LLC acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,154 shares of the medical research company’s stock, valued at approximately $684,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in shares of Quest Diagnostics by 16.1% during the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 177 shares during the last quarter. Financial Architects Inc raised its holdings in shares of Quest Diagnostics by 5.6% during the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after purchasing an additional 88 shares during the last quarter. Wagner Bowman Management Corp purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $200,000. Stratos Wealth Partners LTD. purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $200,000. Finally, IFC Holdings Incorporated FL purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $202,000. 87.10% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Jeffrey M. Leiden sold 296 shares of Quest Diagnostics stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $639,960. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at $684,564.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,996 shares of company stock valued at $17,517,207. Insiders own 1.75% of the company’s stock.

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Quest Diagnostics Incorporated (NYSE:DGX) opened at 101.55 on Friday. The firm has a 50 day moving average of $106.58 and a 200-day moving average of $105.42. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 20.47 and a beta of 0.69. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Equities analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.

DGX has been the subject of several research reports. Bank of America Corporation reissued a “neutral” rating and set a $110.00 price objective (up from $105.00) on shares of Quest Diagnostics in a report on Sunday, May 28th. ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Mizuho upped their target price on shares of Quest Diagnostics from $115.00 to $122.00 and gave the company a “buy” rating in a report on Monday, June 5th. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $118.00 target price on shares of Quest Diagnostics in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Quest Diagnostics has a consensus rating of “Buy” and a consensus target price of $111.09.

Quest Diagnostics Profile

Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).

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

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