Money Concepts Capital Corp cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Get Rating) by 42.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 555 shares of the medical research company's stock after selling 402 shares during the period. Money Concepts Capital Corp's holdings in Quest Diagnostics were worth $76,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DGX. Norges Bank acquired a new position in Quest Diagnostics during the fourth quarter valued at $212,114,000. BlackRock Inc. raised its position in Quest Diagnostics by 10.1% during the first quarter. BlackRock Inc. now owns 12,807,624 shares of the medical research company's stock valued at $1,752,852,000 after buying an additional 1,171,242 shares during the period. American Century Companies Inc. raised its position in Quest Diagnostics by 33.7% during the first quarter. American Century Companies Inc. now owns 2,634,641 shares of the medical research company's stock valued at $360,577,000 after buying an additional 664,574 shares during the period. Vanguard Group Inc. raised its position in Quest Diagnostics by 4.8% during the first quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company's stock valued at $1,917,961,000 after buying an additional 636,301 shares during the period. Finally, Bank of America Corp DE raised its position in Quest Diagnostics by 12.4% during the first quarter. Bank of America Corp DE now owns 3,628,272 shares of the medical research company's stock valued at $496,566,000 after buying an additional 398,924 shares during the period. 88.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Timothy M. Ring sold 2,000 shares of the business's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $136.04, for a total transaction of $272,080.00. Following the transaction, the director now owns 23,933 shares of the company's stock, valued at $3,255,845.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Quest Diagnostics Trading Down 1.5 %

Quest Diagnostics (NYSE:DGX – Get Rating) last announced its earnings results on Thursday, July 21st. The medical research company reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.10. Quest Diagnostics had a net margin of 14.02% and a return on equity of 24.62%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the firm posted $3.18 earnings per share. Quest Diagnostics's revenue was down 3.8% compared to the same quarter last year. Equities analysts anticipate that Quest Diagnostics Incorporated will post 9.68 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Monday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is currently 21.96%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DGX. Morgan Stanley reissued an "equal weight" rating and set a $142.00 price target on shares of Quest Diagnostics in a research report on Monday, August 22nd. StockNews.com upgraded Quest Diagnostics from a "hold" rating to a "buy" rating in a research note on Tuesday, September 27th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Quest Diagnostics presently has an average rating of "Hold" and an average target price of $148.50.

About Quest Diagnostics

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Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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