Hsbc Holdings PLC Purchases 14,361 Shares of Quest Diagnostics Incorporated $DGX

Hsbc Holdings PLC lifted its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,107 shares of the medical research company's stock after purchasing an additional 14,361 shares during the period. Hsbc Holdings PLC owned about 0.21% of Quest Diagnostics worth $39,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DGX. Vanguard Group Inc. raised its stake in shares of Quest Diagnostics by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,392,082 shares of the medical research company's stock valued at $2,497,458,000 after acquiring an additional 140,450 shares during the last quarter. State Street Corp lifted its holdings in shares of Quest Diagnostics by 3.0% during the fourth quarter. State Street Corp now owns 5,382,547 shares of the medical research company's stock worth $934,033,000 after purchasing an additional 158,617 shares during the period. Boston Partners grew its stake in shares of Quest Diagnostics by 32.8% in the third quarter. Boston Partners now owns 4,036,881 shares of the medical research company's stock worth $767,978,000 after purchasing an additional 997,033 shares during the last quarter. Morgan Stanley increased its holdings in Quest Diagnostics by 17.8% in the fourth quarter. Morgan Stanley now owns 2,693,568 shares of the medical research company's stock valued at $467,415,000 after purchasing an additional 406,658 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Quest Diagnostics by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,931,548 shares of the medical research company's stock valued at $335,204,000 after purchasing an additional 24,038 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,147 shares of Quest Diagnostics stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the completion of the transaction, the senior vice president owned 13,510 shares in the company, valued at approximately $2,702,000. The trade was a 37.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $194.14, for a total value of $1,941,400.00. Following the sale, the chief executive officer directly owned 132,423 shares of the company's stock, valued at $25,708,601.22. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays lifted their target price on Quest Diagnostics from $225.00 to $230.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. UBS Group raised their price objective on Quest Diagnostics from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $225.00 target price on shares of Quest Diagnostics in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Quest Diagnostics from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 24th. Finally, Truist Financial boosted their price target on shares of Quest Diagnostics from $220.00 to $225.00 and gave the stock a "hold" rating in a research report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $216.58.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $213.46 on Tuesday. Quest Diagnostics Incorporated has a twelve month low of $164.65 and a twelve month high of $217.41. The stock's 50 day moving average is $197.69 and its 200-day moving average is $194.26. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $23.63 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.57 and a beta of 0.58.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical research company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.13. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. Quest Diagnostics's revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 EPS. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Sell-side analysts forecast that Quest Diagnostics Incorporated will post 10.72 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, July 8th. Quest Diagnostics's dividend payout ratio (DPR) is currently 38.01%.

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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