CIBC Asset Management Inc Increases Position in Quest Diagnostics Incorporated (NYSE:DGX)

CIBC Asset Management Inc increased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,417 shares of the medical research company’s stock after buying an additional 10 shares during the period. CIBC Asset Management Inc’s holdings in Quest Diagnostics were worth $2,047,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Quest Diagnostics by 2,638.3% in the first quarter. BlackRock Inc. now owns 15,362,418 shares of the medical research company’s stock valued at $1,508,435,000 after buying an additional 14,801,397 shares during the last quarter. State Street Corp boosted its position in shares of Quest Diagnostics by 2.7% in the first quarter. State Street Corp now owns 6,918,900 shares of the medical research company’s stock valued at $679,362,000 after buying an additional 180,690 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Quest Diagnostics by 8.3% in the first quarter. Schroder Investment Management Group now owns 2,188,114 shares of the medical research company’s stock valued at $215,245,000 after buying an additional 167,246 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Quest Diagnostics by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,022,107 shares of the medical research company’s stock valued at $198,551,000 after buying an additional 99,153 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Quest Diagnostics by 0.6% in the first quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock valued at $185,315,000 after buying an additional 11,399 shares during the last quarter. 90.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Incorporated (NYSE:DGX) traded down 0.47% during midday trading on Friday, reaching $104.87. 779,220 shares of the company’s stock were exchanged. The company has a market cap of $14.30 billion, a P/E ratio of 21.13 and a beta of 0.69. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97. The company has a 50 day moving average price of $108.23 and a 200 day moving average price of $103.54.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $1.34 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.72%. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.

WARNING: This piece of content was reported by BNB Daily and is owned by of BNB Daily. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/19/cibc-asset-management-inc-has-2-05-million-position-in-quest-diagnostics-incorporated-nysedgx-updated.html.

A number of analysts have recently issued reports on DGX shares. BidaskClub raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley increased their price target on shares of Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Bank of America Corporation raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $111.00 to $118.00 in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies raised their price objective on shares of Quest Diagnostics to $107.00 and gave the company a “neutral” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Quest Diagnostics has a consensus rating of “Hold” and an average price target of $109.62.

In other news, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the transaction, the director now directly owns 6,296 shares in the company, valued at $684,564.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey M. Leiden sold 296 shares of Quest Diagnostics stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $639,960. The disclosure for this sale can be found here. Insiders have sold 61,362 shares of company stock valued at $6,600,758 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

About Quest Diagnostics

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).

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

Receive News & Ratings for Quest Diagnostics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply