Game Plan Financial Advisors LLC Takes $1.61 Million Position in Quest Diagnostics Incorporated $DGX

Key Points

• Game Plan Financial Advisors LLC acquired 9,522 shares of Quest Diagnostics, valued at approximately $1,611,000, during the first quarter, indicating a growing interest in the medical research company's stock.
• Institutional investors currently hold 88.06% of Quest Diagnostics' stock, showcasing significant institutional confidence in the company.
• Quest Diagnostics recently declared a quarterly dividend of $0.80 per share, contributing to an annualized dividend yield of 1.8%.

Game Plan Financial Advisors LLC bought a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,522 shares of the medical research company's stock, valued at approximately $1,611,000.

A number of other hedge funds also recently made changes to their positions in DGX. Brighton Jones LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter worth about $323,000. Captrust Financial Advisors raised its position in Quest Diagnostics by 4.1% during the fourth quarter. Captrust Financial Advisors now owns 14,452 shares of the medical research company's stock valued at $2,180,000 after purchasing an additional 567 shares during the period. Cetera Investment Advisers raised its position in Quest Diagnostics by 8.6% during the fourth quarter. Cetera Investment Advisers now owns 18,399 shares of the medical research company's stock valued at $2,776,000 after purchasing an additional 1,462 shares during the period. Deutsche Bank AG raised its position in Quest Diagnostics by 35.6% during the fourth quarter. Deutsche Bank AG now owns 666,043 shares of the medical research company's stock valued at $100,479,000 after purchasing an additional 174,944 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in Quest Diagnostics by 2,570.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 79,369 shares of the medical research company's stock valued at $11,974,000 after purchasing an additional 76,397 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Trading Down 0.3%

NYSE:DGX traded down $0.60 during midday trading on Friday, hitting $182.86. The stock had a trading volume of 454,078 shares, compared to its average volume of 1,124,531. Quest Diagnostics Incorporated has a one year low of $146.17 and a one year high of $185.62. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.39 and a beta of 0.54. The stock has a 50-day moving average of $175.67 and a 200 day moving average of $173.72. 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 (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.Quest Diagnostics's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, sell-side analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business 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 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is 38.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group decreased their price objective on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Truist Financial upped their price objective on Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Baird R W cut Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.00.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total transaction of $375,700.00. Following the sale, the senior vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total value of $365,375.00. Following the sale, the senior vice president directly owned 15,269 shares in the company, valued at $2,824,765. This trade represents a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,496 shares of company stock worth $4,278,787 in the last ninety days. Insiders own 8.16% of the company's stock.

Quest Diagnostics Profile

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.