Canada Pension Plan Investment Board boosted its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 38.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 428,309 shares of the medical research company’s stock after buying an additional 118,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Quest Diagnostics were worth $47,611,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Schnieders Capital Management LLC boosted its stake in Quest Diagnostics by 0.3% in the second quarter. Schnieders Capital Management LLC now owns 2,366 shares of the medical research company’s stock worth $263,000 after buying an additional 6 shares during the period. First American Trust FSB boosted its stake in Quest Diagnostics by 0.3% in the second quarter. First American Trust FSB now owns 4,395 shares of the medical research company’s stock worth $489,000 after buying an additional 14 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after buying an additional 18 shares during the period. Hills Bank & Trust Co. boosted its stake in Quest Diagnostics by 1.4% in the second quarter. Hills Bank & Trust Co. now owns 2,560 shares of the medical research company’s stock worth $285,000 after buying an additional 35 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in Quest Diagnostics by 0.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 4,300 shares of the medical research company’s stock worth $478,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 90.97% of the company’s stock.

Quest Diagnostics Incorporated (NYSE:DGX) opened at 105.61 on Friday. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 21.28 and a beta of 0.69. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97. The firm’s 50-day moving average is $108.92 and its 200-day moving average is $102.93.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.13. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 earnings per share. Analysts predict that Quest Diagnostics Incorporated will post $5.70 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 24th. Stockholders of record on Monday, July 10th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Thursday, July 6th. Quest Diagnostics’s payout ratio is currently 36.29%.

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A number of research firms recently commented on DGX. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 29th. UBS AG lifted their target price on shares of Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, July 6th. Mizuho lifted their target price on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Barclays PLC reiterated a “hold” rating and issued a $110.00 target price on shares of Quest Diagnostics in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $109.62.

In other news, SVP Catherine T. Doherty sold 59,762 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the completion of the sale, the senior vice president now owns 78,582 shares in the company, valued at $8,451,494.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 296 shares of the company’s 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 sale, the director now owns 6,000 shares of the company’s stock, valued at approximately $639,960. The disclosure for this sale can be found here. Insiders sold 61,362 shares of company stock valued at $6,600,758 over the last three months. Corporate insiders own 1.50% of the company’s stock.

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).

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

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