Causeway Capital Management LLC Has $20.37 Million Stock Position in Quest Diagnostics Incorporated $DGX

Key Points

• Causeway Capital Management LLC reduced its holdings in Quest Diagnostics by 60.5%, now owning approximately $20.37 million worth of shares after selling 184,081 during the quarter.
• Several large investors, including Boston Partners and Price T Rowe Associates, have significantly increased their stakes in Quest Diagnostics, underscoring strong institutional interest.
• Quest Diagnostics reported a 15.2% year-over-year revenue increase in its latest earnings, with revenues reaching $2.76 billion and earnings per share of $2.62, beating analysts' expectations.

Causeway Capital Management LLC lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 60.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,400 shares of the medical research company's stock after selling 184,081 shares during the quarter. Causeway Capital Management LLC owned approximately 0.11% of Quest Diagnostics worth $20,372,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Boston Partners bought a new stake in shares of Quest Diagnostics in the first quarter worth $388,724,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $1,012,534,000 after purchasing an additional 493,960 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Quest Diagnostics by 23,296.2% in the first quarter. GAMMA Investing LLC now owns 444,996 shares of the medical research company's stock valued at $75,293,000 after purchasing an additional 443,094 shares during the last quarter. Nuveen LLC bought a new position in shares of Quest Diagnostics in the first quarter valued at about $55,587,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Quest Diagnostics in the 4th quarter valued at about $33,698,000. 88.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total transaction of $365,375.00. Following the completion of the transaction, the senior vice president directly owned 15,269 shares of the company's stock, valued at approximately $2,824,765. This represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 2,210 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $170.00, for a total value of $375,700.00. Following the completion of the sale, the senior vice president owned 8,450 shares in the company, valued at $1,436,500. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,496 shares of company stock valued at $4,278,787 over the last ninety days. 8.16% of the stock is currently owned by company insiders.

Quest Diagnostics Price Performance

DGX stock opened at $178.7350 on Tuesday. Quest Diagnostics Incorporated has a 12-month low of $146.17 and a 12-month high of $185.62. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The company's fifty day simple moving average is $175.03 and its 200 day simple moving average is $172.67. The firm has a market cap of $19.99 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.39 and a beta of 0.46.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $2.57 by $0.05. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.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 company posted $2.35 EPS. The firm'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. On average, analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DGX. Robert W. Baird reaffirmed a "neutral" rating and issued a $194.00 target price on shares of Quest Diagnostics in a research report on Monday. UBS Group dropped their target price on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday, July 18th. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Baird R W cut Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, Evercore ISI set a $185.00 target price on Quest Diagnostics in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Quest Diagnostics has a consensus rating of "Moderate Buy" and an average price target of $186.00.

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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