13,892 Shares in Quest Diagnostics Incorporated $DGX Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP acquired 13,892 shares of Quest Diagnostics, valued at approximately $2,351,000, in the first quarter, marking a significant investment in the medical research company.
• Quest Diagnostics reported $2.62 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, with a year-over-year revenue increase of 15.2%.
• The company will pay a quarterly dividend of $0.80 per share on October 20th, reflecting an annualized yield of 1.8% and a dividend payout ratio of 38.32%.

Caxton Associates LLP acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,892 shares of the medical research company's stock, valued at approximately $2,351,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DGX. BankPlus Wealth Management LLC increased its position in shares of Quest Diagnostics by 2.5% during the first quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company's stock valued at $408,000 after acquiring an additional 59 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Quest Diagnostics by 5.9% during the first quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company's stock valued at $179,000 after acquiring an additional 59 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Quest Diagnostics by 0.6% during the first quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company's stock valued at $1,948,000 after acquiring an additional 63 shares during the last quarter. Clarius Group LLC increased its position in shares of Quest Diagnostics by 4.8% during the first quarter. Clarius Group LLC now owns 1,421 shares of the medical research company's stock valued at $240,000 after acquiring an additional 65 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its position in shares of Quest Diagnostics by 1.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company's stock valued at $664,000 after acquiring an additional 66 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Down 0.5%

Shares of Quest Diagnostics stock opened at $182.53 on Tuesday. Quest Diagnostics Incorporated has a 52-week low of $146.17 and a 52-week high of $185.62. The company has a 50 day moving average of $175.35 and a 200 day moving average of $173.49. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $20.41 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.43 and a beta of 0.54.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the firm earned $2.35 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Patrick Plewman sold 1,975 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total transaction of $365,375.00. Following the sale, the senior vice president owned 15,269 shares of the company's stock, valued at approximately $2,824,765. This trade represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 2,210 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total transaction of $375,700.00. Following the sale, the senior vice president directly owned 8,450 shares in the company, valued at approximately $1,436,500. The trade was a 20.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,496 shares of company stock worth $4,278,787. 8.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. UBS Group lowered their price objective on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Baird R W lowered shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. William Blair reissued an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, Robert W. Baird reissued a "neutral" rating and issued a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus price target of $186.00.

Quest Diagnostics Company 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.

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