Jump Financial LLC Purchases 8,019 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• Jump Financial LLC increased its holdings in Quest Diagnostics by 320.8% in the first quarter, acquiring 8,019 additional shares, bringing their total ownership to 10,519 shares valued at approximately $1.78 million.
• A significant number of institutional investors have modified their stakes in Quest Diagnostics during the first quarter, with ownership now at 88.06% by institutional investors.
• Quest Diagnostics reported a 15.2% year-over-year revenue increase, with quarterly earnings of $2.62 per share, exceeding analysts' expectations of $2.57.

Jump Financial LLC grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 320.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,519 shares of the medical research company's stock after purchasing an additional 8,019 shares during the period. Jump Financial LLC's holdings in Quest Diagnostics were worth $1,780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC grew its stake in shares of 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 buying an additional 67 shares during the last quarter. First Horizon Advisors Inc. raised its stake 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 valued at $32,000 after acquiring an additional 82 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of 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 purchasing an additional 118 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Quest Diagnostics in the first quarter worth $35,000. Finally, Continuum Advisory LLC raised its position in Quest Diagnostics by 11,100.0% during the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

Insider Activity

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

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock traded up $2.61 on Monday, reaching $181.81. 731,481 shares of the company traded hands, compared to its average volume of 806,812. The company has a 50 day moving average of $175.09 and a 200 day moving average of $173.06. Quest Diagnostics Incorporated has a 52 week low of $146.17 and a 52 week high of $185.62. The firm has a market capitalization of $20.33 billion, a PE ratio of 21.77, a PEG ratio of 2.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The business's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Robert W. Baird reissued a "neutral" rating and set a $194.00 target price on shares of Quest Diagnostics in a research note on Monday, August 25th. Truist Financial raised their price target on shares of Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. UBS Group reduced their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics has an average rating of "Moderate Buy" and an average target price 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.