Retirement Systems of Alabama Has $3.42 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Retirement Systems of Alabama lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 24,779 shares of the medical research company’s stock after selling 598 shares during the period. Retirement Systems of Alabama’s holdings in Quest Diagnostics were worth $3,417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Czech National Bank raised its holdings in Quest Diagnostics by 0.4% in the 4th quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock valued at $2,715,000 after acquiring an additional 75 shares during the period. Mendota Financial Group LLC increased its stake in shares of Quest Diagnostics by 6.2% during the fourth quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock worth $179,000 after purchasing an additional 76 shares during the period. Montecito Bank & Trust lifted its holdings in Quest Diagnostics by 4.7% during the 4th quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock worth $263,000 after purchasing an additional 85 shares during the last quarter. Naples Global Advisors LLC boosted its stake in Quest Diagnostics by 1.5% in the 4th quarter. Naples Global Advisors LLC now owns 6,171 shares of the medical research company’s stock valued at $851,000 after purchasing an additional 90 shares during the period. Finally, State of Michigan Retirement System increased its position in Quest Diagnostics by 0.3% during the 4th quarter. State of Michigan Retirement System now owns 33,417 shares of the medical research company’s stock worth $4,608,000 after buying an additional 100 shares during the period. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $136.96 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $15.21 billion, a PE ratio of 18.43, a P/E/G ratio of 2.98 and a beta of 0.88. The firm has a fifty day simple moving average of $130.73 and a 200 day simple moving average of $132.01. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $145.58.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company posted $2.04 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Quest Diagnostics Incorporated will post 8.78 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Karthik Kuppusamy sold 1,760 shares of Quest Diagnostics stock in a transaction on Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the sale, the senior vice president now owns 13,435 shares in the company, valued at approximately $1,880,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the sale, the director now owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 1,760 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $140.00, for a total transaction of $246,400.00. Following the transaction, the senior vice president now owns 13,435 shares in the company, valued at approximately $1,880,900. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,910 shares of company stock worth $2,159,602. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Truist Financial increased their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and upped their price target for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Mizuho raised their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $146.17.

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.