Alberta Investment Management Corp Acquires New Shares in Quest Diagnostics Inc (NYSE:DGX)

Alberta Investment Management Corp acquired a new stake in Quest Diagnostics Inc (NYSE:DGX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 38,300 shares of the medical research company’s stock, valued at approximately $3,075,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DGX. IFP Advisors Inc increased its holdings in Quest Diagnostics by 92.6% in the fourth quarter. IFP Advisors Inc now owns 262 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 126 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Quest Diagnostics by 67.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,396 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 961 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Quest Diagnostics by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,642 shares of the medical research company’s stock valued at $1,564,000 after purchasing an additional 626 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Quest Diagnostics by 2.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,608 shares of the medical research company’s stock valued at $9,569,000 after purchasing an additional 2,237 shares during the last quarter. Finally, Optimum Investment Advisors increased its holdings in Quest Diagnostics by 25.0% in the fourth quarter. Optimum Investment Advisors now owns 1,500 shares of the medical research company’s stock valued at $160,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

In related news, SVP Catherine T. Doherty sold 405 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $112.73, for a total transaction of $45,655.65. Following the completion of the transaction, the senior vice president now directly owns 71,106 shares of the company’s stock, valued at $8,015,779.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J. E. Davis sold 3,513 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $87.75, for a total value of $308,265.75. Following the transaction, the executive vice president now directly owns 41,399 shares of the company’s stock, valued at $3,632,762.25. The disclosure for this sale can be found here. Insiders have sold 255,476 shares of company stock valued at $28,656,119 over the last three months. Insiders own 1.49% of the company’s stock.

DGX stock opened at $112.83 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.27. The stock has a market capitalization of $15.11 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.23 and a beta of 1.39. The business has a 50-day moving average of $99.72 and a 200-day moving average of $103.30. Quest Diagnostics Inc has a fifty-two week low of $73.02 and a fifty-two week high of $125.00.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Quest Diagnostics had a return on equity of 14.79% and a net margin of 10.36%. Quest Diagnostics’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. Equities analysts expect that Quest Diagnostics Inc will post 4.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, July 7th. This represents a $2.24 annualized dividend and a yield of 1.99%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.15%.

A number of equities research analysts recently commented on DGX shares. Cfra downgraded Quest Diagnostics from a “strong-buy” rating to a “hold” rating and dropped their price objective for the company from $140.00 to $106.00 in a report on Wednesday, April 22nd. Robert W. Baird increased their price target on Quest Diagnostics from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Mizuho lowered their price target on Quest Diagnostics from $110.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, April 16th. TheStreet upgraded Quest Diagnostics from a “c+” rating to a “b” rating in a report on Thursday, May 14th. Finally, SunTrust Banks increased their price target on Quest Diagnostics from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Quest Diagnostics has an average rating of “Hold” and a consensus price target of $111.28.

Quest Diagnostics Profile

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

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

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