Cibc Bank USA Invests $408,000 in Quest Diagnostics Inc (DGX) Stock

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 Inc (DGX) traded up $1.49 during midday trading on Friday, hitting $103.06. 866,863 shares of the company were exchanged, compared to its average volume of 792,515. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37. The stock has a market cap of $14,050.00, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 2.00 and a beta of 0.60. Quest Diagnostics Inc has a 1 year low of $90.10 and a 1 year high of $112.96.

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.

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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).

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

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