5,500 Shares in Quest Diagnostics Incorporated $DGX Acquired by Glaxis Capital Management LLC

Key Points

• Glaxis Capital Management initiated a Quest Diagnostics position by purchasing 5,500 shares valued at approximately $1.17 million. Institutional investors collectively own 88.06% of DGX.
• Quest Diagnostics reported quarterly EPS of $3.12, exceeding the $2.82 consensus estimate, while revenue rose 10.2% year over year to $3.04 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $235.31.
• The company declared a quarterly dividend of $0.86 per share, equivalent to $3.44 annually and a 1.4% yield. Several analysts raised their price targets, although recent insider activity included planned sales of company stock.

Glaxis Capital Management LLC purchased a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,500 shares of the medical research company's stock, valued at approximately $1,166,000. Quest Diagnostics comprises 2.3% of Glaxis Capital Management LLC's holdings, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of DGX. BlackRock Inc. bought a new stake in shares of Quest Diagnostics during the 2nd quarter worth $1,965,923,000. Norges Bank acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $229,522,000. Boston Partners lifted its holdings in shares of Quest Diagnostics by 32.8% during the third quarter. Boston Partners now owns 4,036,881 shares of the medical research company's stock valued at $767,978,000 after purchasing an additional 997,033 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Quest Diagnostics by 95.5% during the fourth quarter. EdgePoint Investment Group Inc. now owns 1,661,072 shares of the medical research company's stock valued at $288,246,000 after purchasing an additional 811,320 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at $133,388,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Activity

In related news, SVP Mark E. Delaney sold 1,600 shares of Quest Diagnostics stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $235.18, for a total transaction of $376,288.00. Following the completion of the sale, the senior vice president owned 10,335 shares of the company's stock, valued at approximately $2,430,585.30. This trade represents a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $200.00, for a total value of $1,629,400.00. Following the completion of the transaction, the senior vice president owned 13,510 shares in the company, valued at $2,702,000. This trade represents a 37.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 19,747 shares of company stock worth $3,947,088 in the last ninety days. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

DGX has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Quest Diagnostics from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. UBS Group raised their target price on shares of Quest Diagnostics from $220.00 to $232.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Argus set a $260.00 target price on shares of Quest Diagnostics in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a report on Tuesday, July 28th. Finally, Truist Financial upped their price target on shares of Quest Diagnostics from $225.00 to $250.00 and gave the company a "hold" rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.31.

Quest Diagnostics Stock Up 0.0%

NYSE:DGX opened at $241.80 on Friday. The business's fifty day moving average price is $218.52 and its 200 day moving average price is $204.87. The firm has a market capitalization of $26.69 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.23 and a beta of 0.56. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Quest Diagnostics Incorporated has a 1-year low of $171.18 and a 1-year high of $245.68.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.30. The company had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.97 billion. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.62 EPS. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. On average, sell-side analysts forecast that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Tuesday, October 6th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.4%. Quest Diagnostics's dividend payout ratio (DPR) is 36.52%.

Quest Diagnostics Company Profile

Quest Diagnostics NYSE: DGX is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.

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