Cibc Bank USA acquired a new stake in Quest Diagnostics Inc (NYSE:DGX) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,135 shares of the medical research company’s stock, valued at approximately $408,000.
Other large investors have also recently made changes to their positions in the company. WFG Advisors LP increased its position in shares of Quest Diagnostics by 45.3% in the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 301 shares during the last quarter. Sun Life Financial INC increased its position in shares of Quest Diagnostics by 14,142.9% in the 2nd quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 990 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Quest Diagnostics in the 2nd quarter valued at approximately $180,000. Parametrica Management Ltd purchased a new stake in shares of Quest Diagnostics in the 3rd quarter valued at approximately $206,000. Finally, Adviser Investments LLC purchased a new stake in shares of Quest Diagnostics in the 3rd quarter valued at approximately $217,000. 88.92% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on DGX shares. Raymond James Financial reissued a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, September 25th. ValuEngine downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Credit Suisse Group dropped their price objective on shares of Quest Diagnostics from $110.00 to $99.00 and set a “neutral” rating on the stock in a research report on Thursday, September 28th. Zacks Investment Research downgraded shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Goldman Sachs Group downgraded shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and dropped their price objective for the company from $121.00 to $113.00 in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Quest Diagnostics presently has an average rating of “Hold” and an average target price of $106.45.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.37 EPS. equities analysts expect that Quest Diagnostics Inc will post 5.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is 37.50%.
In related news, EVP J. E. Davis sold 63,880 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total value of $6,303,678.40. Following the transaction, the executive vice president now directly owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.75% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Cibc Bank USA Invests $408,000 in Quest Diagnostics Inc (DGX) Stock” was first reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3146299/cibc-bank-usa-invests-408000-in-quest-diagnostics-inc-dgx-stock.html.
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).
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Inc (NYSE:DGX).
Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.