Callan Family Office LLC Acquires New Stake in Quest Diagnostics Incorporated $DGX

Key Points

• Callan Family Office LLC acquired a new stake in Quest Diagnostics, purchasing 3,447 shares valued at approximately $619,000 during the second quarter.
• Quest Diagnostics reported $2.76 billion in revenue for the last quarter, exceeding analysts' estimates, along with a net margin of 9.01%.
• The company declared a quarterly dividend of $0.80, equivalent to an annual yield of 1.8%, to be paid on October 20th.

Callan Family Office LLC purchased a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,447 shares of the medical research company's stock, valued at approximately $619,000.

A number of other institutional investors have also bought and sold shares of the company. Boston Partners bought a new position in shares of Quest Diagnostics during the 1st quarter worth about $388,724,000. Price T Rowe Associates Inc. MD boosted its position in shares of Quest Diagnostics by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company's stock worth $1,012,534,000 after purchasing an additional 493,960 shares in the last quarter. Nuveen LLC bought a new position in shares of Quest Diagnostics during the 1st quarter worth about $55,587,000. Coho Partners Ltd. bought a new position in shares of Quest Diagnostics during the 1st quarter worth about $30,839,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of Quest Diagnostics during the 1st quarter worth about $29,213,000. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Trading Down 0.7%

Shares of DGX stock opened at $182.81 on Tuesday. The company has a 50 day moving average of $181.42 and a 200-day moving average of $175.72. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 12-month low of $146.91 and a 12-month high of $191.49. The firm has a market cap of $20.44 billion, a P/E ratio of 21.89, a PEG ratio of 2.44 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, beating 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 business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the business earned $2.35 EPS. Quest Diagnostics's revenue was up 15.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's payout ratio is currently 38.32%.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 8,269 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total value of $1,384,230.60. Following the completion of the transaction, the senior vice president directly owned 10,660 shares in the company, valued at approximately $1,784,484. The trade was a 43.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 28,288 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total transaction of $5,293,250.56. Following the completion of the transaction, the senior vice president owned 38,117 shares of the company's stock, valued at $7,132,453.04. This represents a 42.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,186 shares of company stock worth $9,647,471. Corporate insiders own 8.16% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DGX. Wall Street Zen cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Baird R W cut shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $194.00 price target on shares of Quest Diagnostics in a research report on Monday, August 25th. Finally, UBS Group dropped their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus target price of $186.63.

About Quest Diagnostics

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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