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

Alberta Investment Management Corp acquired a new stake in shares of Quest Diagnostics Inc (NYSE:DGX) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 38,300 shares of the medical research company’s stock, valued at approximately $3,075,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DGX. Fiera Capital Corp lifted its holdings in Quest Diagnostics by 1,042.9% during the 1st quarter. Fiera Capital Corp now owns 24,058 shares of the medical research company’s stock worth $1,932,000 after buying an additional 21,953 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Quest Diagnostics during the 1st quarter worth about $134,000. Swiss National Bank lifted its holdings in Quest Diagnostics by 21.7% during the 1st quarter. Swiss National Bank now owns 607,810 shares of the medical research company’s stock worth $48,807,000 after buying an additional 108,400 shares during the period. Aigen Investment Management LP acquired a new position in Quest Diagnostics during the 1st quarter worth about $983,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Quest Diagnostics by 3.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 54,437 shares of the medical research company’s stock worth $4,371,000 after buying an additional 2,061 shares during the period. 90.37% of the stock is currently owned by institutional investors.

Shares of Quest Diagnostics stock opened at $112.83 on Friday. Quest Diagnostics Inc has a one year low of $73.02 and a one year high of $125.00. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 3.23 and a beta of 1.39. The business has a 50-day simple moving average of $99.72 and a 200 day simple moving average of $103.30. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.27.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Wednesday, April 22nd. The medical research company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Quest Diagnostics had a return on equity of 14.79% and a net margin of 10.36%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Quest Diagnostics Inc will post 4.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Tuesday, July 7th. Quest Diagnostics’s payout ratio is 34.15%.

Several brokerages have commented on DGX. Wells Fargo & Co lifted their target price on Quest Diagnostics from $80.00 to $90.00 and gave the stock an “underweight” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their target price on Quest Diagnostics from $87.00 to $111.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Zacks Investment Research raised Quest Diagnostics from a “sell” rating to a “hold” rating and set a $107.00 target price on the stock in a report on Monday, March 16th. Piper Sandler lifted their price objective on Quest Diagnostics from $102.00 to $107.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Wolfe Research raised Quest Diagnostics from an “underperform” rating to a “market perform” rating and set a $116.00 price objective for the company in a research report on Monday, April 27th. Two equities 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. The company currently has an average rating of “Hold” and an average price target of $111.28.

In other Quest Diagnostics news, EVP J. E. Davis sold 598 shares of the business’s 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 $67,412.54. Following the completion of the sale, the executive vice president now directly owns 42,052 shares of the company’s stock, valued at approximately $4,740,521.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Catherine T. Doherty sold 405 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $112.73, for a total value of $45,655.65. Following the sale, the senior vice president now directly owns 71,106 shares of the company’s stock, valued at $8,015,779.38. The disclosure for this sale can be found here. Insiders sold a total of 255,476 shares of company stock valued at $28,656,119 over the last ninety days. 1.49% of the stock is currently owned by corporate insiders.

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.

See Also: How the Consumer Price Index (CPI) is calculated?

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Inc (NYSE:DGX).

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

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