Quest Diagnostics Incorporated (NYSE:DGX) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp raised its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,620 shares of the medical research company's stock after purchasing an additional 2,489 shares during the period. Cibc World Markets Corp's holdings in Quest Diagnostics were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in Quest Diagnostics in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc grew its position in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after buying an additional 194 shares during the last quarter. First Financial Corp IN purchased a new position in shares of Quest Diagnostics during the fourth quarter worth about $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 5,370 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total value of $935,078.10. Following the completion of the transaction, the executive vice president now directly owns 68,068 shares in the company, valued at approximately $11,852,680.84. The trade was a 7.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 4,643 shares of Quest Diagnostics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the sale, the senior vice president now directly owns 38,117 shares of the company's stock, valued at approximately $6,479,890. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,157 shares of company stock valued at $2,423,755 over the last quarter. Insiders own 0.79% of the company's stock.

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Quest Diagnostics Price Performance

Shares of NYSE:DGX traded down $1.84 during midday trading on Tuesday, hitting $165.49. 769,212 shares of the stock were exchanged, compared to its average volume of 877,170. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $165.45 and a 200-day moving average price of $158.73. Quest Diagnostics Incorporated has a twelve month low of $125.42 and a twelve month high of $178.87. The stock has a market cap of $18.37 billion, a P/E ratio of 21.52, a PEG ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.80 dividend. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics's dividend payout ratio is currently 41.61%.

Analysts Set New Price Targets

Several analysts have commented on the company. Leerink Partnrs raised Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Robert W. Baird upped their price target on Quest Diagnostics from $190.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley raised shares of Quest Diagnostics from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Finally, Citigroup cut shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target for the company. in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $178.38.

Quest Diagnostics Profile

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.