Bank of Montreal Can Has $34.07 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Bank of Montreal Can cut its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,816 shares of the medical research company's stock after selling 51,580 shares during the quarter. Bank of Montreal Can owned approximately 0.20% of Quest Diagnostics worth $34,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Quest Diagnostics by 1.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company's stock worth $580,000 after buying an additional 60 shares during the last quarter. Net Worth Advisory Group increased its holdings in shares of Quest Diagnostics by 1.0% during the fourth quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company's stock valued at $980,000 after acquiring an additional 62 shares in the last quarter. Brooklyn Investment Group boosted its stake in Quest Diagnostics by 5.5% in the 4th quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company's stock worth $198,000 after purchasing an additional 68 shares in the last quarter. Mather Group LLC. grew its position in Quest Diagnostics by 10.4% during the 4th quarter. Mather Group LLC. now owns 764 shares of the medical research company's stock worth $115,000 after purchasing an additional 72 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Quest Diagnostics by 7.7% in the fourth quarter. Private Trust Co. NA now owns 1,053 shares of the medical research company's stock worth $159,000 after buying an additional 75 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quest Diagnostics

In related news, CEO J. E. Davis sold 39,191 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the completion of the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares of the company's stock, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,903 shares of company stock worth $9,460,221. 0.79% of the stock is currently owned by insiders.

Quest Diagnostics Stock Up 0.5 %

DGX stock traded up $0.87 during trading hours on Wednesday, hitting $168.10. The company's stock had a trading volume of 252,052 shares, compared to its average volume of 1,207,385. Quest Diagnostics Incorporated has a 12 month low of $125.42 and a 12 month high of $178.87. The stock has a 50 day moving average price of $168.67 and a two-hundred day moving average price of $160.10. The company has a market capitalization of $18.65 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.90%. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. Quest Diagnostics's dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on DGX shares. Leerink Partners upgraded shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and raised their price target for the company from $169.00 to $174.00 in a research report on Monday, January 6th. StockNews.com cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Morgan Stanley upgraded Quest Diagnostics from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. Robert W. Baird raised their price target on Quest Diagnostics from $190.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, March 20th. Finally, Mizuho upped their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.33.

About Quest Diagnostics

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