Hsbc Holdings PLC Acquires 29,842 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• HSBC increased its Quest Diagnostics stake by 15.3% in the second quarter, acquiring 29,842 shares and bringing its holdings to 224,986 shares valued at approximately $47.8 million. Institutional investors collectively own 88.06% of the company.
• Quest Diagnostics reported quarterly EPS of $3.12, beating estimates by $0.30, while revenue rose 10.2% year over year to $3.04 billion. The company reaffirmed fiscal 2026 EPS guidance of $11.05–$11.25.
• The company declared a quarterly dividend of $0.86 per share, equivalent to an annualized $3.44 and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $235.31, while insiders sold shares under pre-arranged trading plans.

Hsbc Holdings PLC raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,986 shares of the medical research company's stock after acquiring an additional 29,842 shares during the period. Hsbc Holdings PLC owned approximately 0.20% of Quest Diagnostics worth $47,785,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $323,000. Cresset Asset Management LLC increased its holdings in shares of Quest Diagnostics by 4.6% in the 2nd quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company's stock worth $719,000 after buying an additional 176 shares during the last quarter. Gabelli Funds LLC bought a new position in shares of Quest Diagnostics in the 2nd quarter worth $287,000. Bank of Nova Scotia raised its position in shares of Quest Diagnostics by 7.2% during the 2nd quarter. Bank of Nova Scotia now owns 14,339 shares of the medical research company's stock valued at $2,576,000 after buying an additional 962 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Quest Diagnostics by 17.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 18,599 shares of the medical research company's stock valued at $3,341,000 after buying an additional 2,718 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $236.75 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 1.59. Quest Diagnostics Incorporated has a 52-week low of $171.18 and a 52-week high of $247.19. The company has a fifty day moving average of $228.13 and a 200-day moving average of $208.55. The stock has a market capitalization of $26.13 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 2.17 and a beta of 0.55.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its earnings results on Thursday, July 23rd. The medical research company reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.30. The company had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.97 billion. Quest Diagnostics had a net margin of 9.18% and a return on equity of 16.01%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.62 EPS. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Equities research analysts expect that Quest Diagnostics Incorporated will post 11.15 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Tuesday, October 6th will be issued a $0.86 dividend. The ex-dividend date is Tuesday, October 6th. This represents a $3.44 annualized dividend and a dividend yield of 1.5%. Quest Diagnostics's payout ratio is currently 36.52%.

Insider Activity

In other news, CEO J. Davis sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $242.72, for a total value of $2,427,200.00. Following the completion of the sale, the chief executive officer owned 122,423 shares of the company's stock, valued at approximately $29,714,510.56. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Prevoznik sold 22,677 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $243.11, for a total value of $5,513,005.47. Following the sale, the senior vice president owned 37,557 shares of the company's stock, valued at $9,130,482.27. This represents a 37.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 34,277 shares of company stock valued at $8,316,493. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DGX shares. Robert W. Baird upped their target price on shares of Quest Diagnostics from $236.00 to $255.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Jefferies Financial Group restated a "buy" rating and set a $245.00 price target on shares of Quest Diagnostics in a research report on Thursday, July 23rd. Wall Street Zen raised Quest Diagnostics from a "hold" rating to a "buy" rating in a research note on Tuesday, July 28th. UBS Group upped their price objective on Quest Diagnostics from $220.00 to $232.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Barclays increased their price objective on Quest Diagnostics from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $235.31.

Quest Diagnostics 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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