Czech National Bank Buys 1,792 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• The Czech National Bank increased its stake in Quest Diagnostics by 7.0%, now holding 27,287 shares worth $4.90 million.
• Insider selling activity included SVP Karthik Kuppusamy and SVP Patrick Plewman, who sold shares for a total of $2.35 million in July and August, respectively.
• Quest Diagnostics announced a quarterly dividend of $0.80 per share, representing a 1.7% yield, with the payment scheduled for October 20th.

Czech National Bank raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,287 shares of the medical research company's stock after purchasing an additional 1,792 shares during the quarter. Czech National Bank's holdings in Quest Diagnostics were worth $4,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Bruce G. Allen Investments LLC increased its stake in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after acquiring an additional 67 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Quest Diagnostics by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after acquiring an additional 118 shares during the last quarter. NBC Securities Inc. bought a new position in Quest Diagnostics in the first quarter worth about $35,000. Finally, Continuum Advisory LLC raised its holdings in shares of Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after buying an additional 222 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Robert W. Baird restated a "neutral" rating and issued a $194.00 price target on shares of Quest Diagnostics in a research report on Monday, August 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Baird R W lowered shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Truist Financial lifted their target price on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Quest Diagnostics has an average rating of "Moderate Buy" and a consensus price target of $186.00.

Insider Buying and Selling

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

Quest Diagnostics Stock Up 0.2%

Quest Diagnostics stock traded up $0.36 during mid-day trading on Friday, reaching $183.69. The company's stock had a trading volume of 1,435,553 shares, compared to its average volume of 633,800. The company has a market capitalization of $20.54 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. The business's 50 day simple moving average is $176.68 and its 200 day simple moving average is $174.00. Quest Diagnostics Incorporated has a 12 month low of $146.17 and a 12 month high of $185.62.

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 the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same period in the previous year, the company earned $2.35 EPS. The business's revenue for the quarter 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. As a group, research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders 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 yield of 1.7%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is currently 38.32%.

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.