3,863 Shares in Quest Diagnostics Incorporated $DGX Purchased by Qtron Investments LLC

Key Points

• Qtron Investments LLC acquired 3,863 shares of Quest Diagnostics (NYSE:DGX) during the first quarter, valued at approximately $654,000, reflecting growing interest from institutional investors.
• Analysts are optimistic about Quest Diagnostics, with a consensus rating of "Moderate Buy" and an average target price of $186.00 based on recent reports.
• Quest Diagnostics announced a quarterly dividend of $0.80 per share, indicating a solid annual yield of 1.8% and a payout ratio of 38.32%.

Qtron Investments LLC acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,863 shares of the medical research company's stock, valued at approximately $654,000.

A number of other institutional investors have also modified their holdings of the stock. Brooklyn Investment Group increased its holdings in shares of Quest Diagnostics by 18.6% in the first quarter. Brooklyn Investment Group now owns 1,560 shares of the medical research company's stock valued at $264,000 after purchasing an additional 245 shares during the period. Versor Investments LP increased its holdings in shares of Quest Diagnostics by 68.5% in the first quarter. Versor Investments LP now owns 7,413 shares of the medical research company's stock valued at $1,254,000 after purchasing an additional 3,013 shares during the period. Valley Brook Capital Group Inc. acquired a new position in shares of Quest Diagnostics in the first quarter valued at approximately $203,000. Raymond James Financial Inc. grew its holdings in Quest Diagnostics by 22.9% during the first quarter. Raymond James Financial Inc. now owns 549,242 shares of the medical research company's stock worth $92,932,000 after acquiring an additional 102,159 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Quest Diagnostics by 4.2% during the first quarter. EverSource Wealth Advisors LLC now owns 5,501 shares of the medical research company's stock worth $931,000 after acquiring an additional 224 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded down $3.62 during trading hours on Friday, hitting $180.10. The stock had a trading volume of 947,753 shares, compared to its average volume of 936,669. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.44 and a beta of 0.46. Quest Diagnostics Incorporated has a 1-year low of $146.17 and a 1-year high of $185.62. The stock's fifty day moving average is $175.09 and its two-hundred day moving average is $172.44.

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

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid 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 dividend yield of 1.8%. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Piper Sandler upped their price objective on Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. JPMorgan Chase & Co. upped their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Evercore ISI set a $185.00 price objective on Quest Diagnostics in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $186.00.

Insiders Place Their Bets

In related news, SVP Karthik Kuppusamy sold 2,210 shares of the stock in a transaction 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 owned 8,450 shares of the company's stock, valued at $1,436,500. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patrick Plewman sold 4,532 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $183.00, for a total value of $829,356.00. Following the sale, the senior vice president directly owned 17,244 shares in the company, valued at approximately $3,155,652. The trade was a 20.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,521 shares of company stock worth $3,913,412. Corporate insiders own 8.16% of the company's stock.

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.