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Medical lab operator Quest Diagnostics Inc. said Wednesday it approved the repurchase of as much as $250 million in stock.

Quest said it had about 170 million shares on the market as of Sept. 30. The company had approved a $750 million stock buyback in January and has already completed it. Quest repurchased about 15 million shares in the process.

Shares of Quest closed at $50.08 Tuesday, and have traded between $40.80 and $62.83 over the last year.

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