Breakwater Capital Group Makes New $1.07 Million Investment in Quest Diagnostics Incorporated $DGX

Key Points

• Breakwater Capital Group disclosed a new position in Quest Diagnostics, buying 5,480 shares valued at about $1.07 million in the first quarter.
• Quest Diagnostics saw additional institutional activity, with several smaller investors adding stakes and 88.06% of the stock now held by institutions.
• The company reported strong quarterly earnings of $2.50 per share, beating estimates, while analysts remain generally positive with a Moderate Buy consensus and average price target of $216.58.

Breakwater Capital Group bought a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,480 shares of the medical research company's stock, valued at approximately $1,074,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DGX. Quattro Advisors LLC bought a new position in shares of Quest Diagnostics during the fourth quarter worth $25,000. JFS Wealth Advisors LLC raised its position in Quest Diagnostics by 114.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 150 shares of the medical research company's stock valued at $26,000 after purchasing an additional 80 shares during the period. Sittner & Nelson LLC purchased a new stake in Quest Diagnostics during the 4th quarter valued at $29,000. DV Equities LLC bought a new stake in Quest Diagnostics in the fourth quarter worth about $27,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of Quest Diagnostics by 113.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 156 shares of the medical research company's stock worth $27,000 after purchasing an additional 83 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 8,147 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the completion of the sale, the senior vice president directly owned 13,510 shares in the company, valued at approximately $2,702,000. This trade represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the sale, the chief executive officer owned 132,423 shares of the company's stock, valued at $25,708,601.22. This represents a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DGX shares. Evercore set a $225.00 price target on Quest Diagnostics in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Weiss Ratings upgraded Quest Diagnostics from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, June 9th. Barclays lifted their target price on shares of Quest Diagnostics from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $225.00 price target on shares of Quest Diagnostics in a research note on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $216.58.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $203.57 on Thursday. The company's fifty day moving average price is $195.22 and its 200 day moving average price is $192.50. Quest Diagnostics Incorporated has a 1 year low of $164.65 and a 1 year high of $213.50. The stock has a market capitalization of $22.54 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.35 and a beta of 0.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.18.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.13. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. The business had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The company's quarterly revenue was up 9.2% on a year-over-year basis. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. As a group, equities research analysts anticipate that Quest Diagnostics Incorporated will post 10.72 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, July 8th. Quest Diagnostics's dividend payout ratio is currently 38.01%.

About Quest Diagnostics

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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