Farmers & Merchants Trust Co of Chambersburg PA reduced its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,350 shares of the medical research company’s stock after selling 175 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Quest Diagnostics were worth $121,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Quest Diagnostics by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 1,877,866 shares of the medical research company’s stock valued at $202,640,000 after purchasing an additional 96,493 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Quest Diagnostics in the third quarter worth $743,000. Renaissance Technologies LLC raised its holdings in shares of Quest Diagnostics by 3.1% in the third quarter. Renaissance Technologies LLC now owns 259,400 shares of the medical research company’s stock worth $27,992,000 after buying an additional 7,900 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Quest Diagnostics by 472.2% in the third quarter. Fifth Third Bancorp now owns 2,615 shares of the medical research company’s stock worth $282,000 after buying an additional 2,158 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Quest Diagnostics by 14.5% in the third quarter. LPL Financial LLC now owns 11,450 shares of the medical research company’s stock worth $1,236,000 after buying an additional 1,454 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of DGX stock traded up $0.73 during trading on Monday, hitting $90.61. The company’s stock had a trading volume of 8,812 shares, compared to its average volume of 1,071,777. The firm has a market cap of $12.10 billion, a PE ratio of 14.33, a P/E/G ratio of 2.10 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Quest Diagnostics Inc has a 52 week low of $78.95 and a 52 week high of $116.49.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, February 14th. The medical research company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.88 billion. Quest Diagnostics had a net margin of 9.77% and a return on equity of 15.23%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. On average, research analysts expect that Quest Diagnostics Inc will post 6.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is presently 33.60%.

In other Quest Diagnostics news, Director Gail R. Wilensky sold 8,000 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $87.78, for a total transaction of $702,240.00. Following the completion of the transaction, the director now directly owns 34,604 shares of the company’s stock, valued at $3,037,539.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Everett Cunningham sold 1,496 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $86.64, for a total value of $129,613.44. Following the transaction, the senior vice president now directly owns 39,755 shares of the company’s stock, valued at $3,444,373.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,106 shares of company stock valued at $7,935,229. 1.79% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on DGX shares. Zacks Investment Research lowered Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Argus downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, January 31st. Piper Jaffray Companies dropped their price objective on Quest Diagnostics from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 14th. UBS Group set a $91.00 price target on Quest Diagnostics and gave the stock a “hold” rating in a research note on Friday, February 15th. Finally, Barclays reaffirmed a “buy” rating and set a $114.00 price target on shares of Quest Diagnostics in a research note on Friday, February 15th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $102.50.

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Quest Diagnostics Profile

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

Further Reading: Coverage Ratio

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

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