CANADA LIFE ASSURANCE Co Sells 25,237 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

CANADA LIFE ASSURANCE Co lowered its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 6.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 347,197 shares of the medical research company’s stock after selling 25,237 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Quest Diagnostics were worth $52,365,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of DGX. Sierra Ocean LLC bought a new stake in shares of Quest Diagnostics during the fourth quarter worth approximately $33,000. First Financial Corp IN bought a new stake in Quest Diagnostics in the 4th quarter valued at $38,000. Versant Capital Management Inc grew its holdings in 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 in the last quarter. FPC Investment Advisory Inc. bought a new position in Quest Diagnostics during the 4th quarter worth $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $49,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 2,555 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $170.00, for a total value of $434,350.00. Following the completion of the sale, the senior vice president now directly owns 10,575 shares in the company, valued at $1,797,750. This represents a 19.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total value of $90,794.85. Following the transaction, the executive vice president now directly owns 71,356 shares in the company, valued at $12,109,826.76. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,903 shares of company stock valued at $9,460,221. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics Trading Down 0.4 %

Shares of Quest Diagnostics stock opened at $163.75 on Friday. The firm’s 50 day moving average is $168.68 and its 200 day moving average is $160.19. The firm has a market capitalization of $18.17 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. Quest Diagnostics Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date is Monday, April 7th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.95%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 41.61%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price target on the stock. Mizuho raised their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. boosted their price target on Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup lowered Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a research note on Tuesday, March 4th. Finally, Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.