Calamos Advisors LLC Takes Position in Quest Diagnostics Incorporated $DGX

Key Points

• Calamos Advisors LLC opened a new position in Quest Diagnostics during the first quarter, buying 43,506 shares worth about $8.5 million.
• Quest Diagnostics reported strong quarterly results, with EPS of $2.50 topping estimates and revenue of $2.90 billion above expectations; revenue also rose 9.2% year over year.
• The company also announced a quarterly dividend of $0.86 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $217.17.

Calamos Advisors LLC bought a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 43,506 shares of the medical research company's stock, valued at approximately $8,526,000.

A number of other large investors have also recently made changes to their positions in DGX. Norges Bank bought a new stake in Quest Diagnostics in the fourth quarter worth about $229,522,000. Boston Partners grew its stake 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 buying an additional 997,033 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Quest Diagnostics by 95.5% in the fourth quarter. EdgePoint Investment Group Inc. now owns 1,661,072 shares of the medical research company's stock worth $288,246,000 after buying an additional 811,320 shares during the period. UBS Group AG raised its holdings in shares of Quest Diagnostics by 67.8% in the fourth quarter. UBS Group AG now owns 1,114,451 shares of the medical research company's stock worth $193,391,000 after buying an additional 450,161 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Quest Diagnostics by 36.3% during the 2nd quarter. Bank of America Corp DE now owns 1,599,602 shares of the medical research company's stock worth $287,337,000 after acquiring an additional 426,399 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 0.7%

Shares of NYSE DGX opened at $205.91 on Wednesday. Quest Diagnostics Incorporated has a 52-week low of $164.65 and a 52-week high of $219.20. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.47 and a beta of 0.58. The stock has a 50 day moving average price of $199.43 and a 200 day moving average price of $195.61. 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 quarterly earnings data on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.37 by $0.13. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. Quest Diagnostics had a return on equity of 15.60% and a net margin of 9.07%.Quest Diagnostics's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Sell-side analysts expect that Quest Diagnostics Incorporated will post 10.72 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

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

Insider Buying and Selling at Quest Diagnostics

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

Analyst Ratings Changes

A number of research firms recently issued reports on DGX. Barclays boosted their price objective on Quest Diagnostics from $225.00 to $230.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. UBS Group increased their target price on Quest Diagnostics from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Truist Financial lifted their target price on Quest Diagnostics from $220.00 to $225.00 and gave the stock a "hold" rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Jefferies Financial Group restated a "buy" rating and issued a $225.00 price target on shares of Quest Diagnostics in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $217.17.

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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