Knights of Columbus Asset Advisors LLC Purchases 2,526 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• Knights of Columbus Asset Advisors LLC increased its shareholding in Quest Diagnostics by 5.4%, acquiring an additional 2,526 shares, bringing their total to 48,920 shares worth approximately $8.79 million.
• Several institutional investors, including Boston Partners and Price T Rowe Associates, have also made significant investments in Quest Diagnostics, with 88.06% of the stock owned by institutional investors.
• Wall Street analysts maintain a Moderate Buy rating for Quest Diagnostics, with an average price target of $186.31, after the company reported better-than-expected earnings, with a 15.2% revenue increase year-over-year.

Knights of Columbus Asset Advisors LLC increased its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 48,920 shares of the medical research company's stock after acquiring an additional 2,526 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Quest Diagnostics were worth $8,788,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DGX. Boston Partners bought a new stake in shares of Quest Diagnostics in the first quarter valued at approximately $388,724,000. Price T Rowe Associates Inc. MD grew its stake in Quest Diagnostics by 9.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company's stock valued at $1,012,534,000 after buying an additional 493,960 shares in the last quarter. Nuveen LLC bought a new stake in Quest Diagnostics during the 1st quarter valued at $55,587,000. Coho Partners Ltd. purchased a new stake in shares of Quest Diagnostics during the first quarter worth $30,839,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of Quest Diagnostics in the first quarter worth $29,213,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DGX shares. Robert W. Baird reiterated a "neutral" rating and set a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. William Blair reissued an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Barclays raised their price objective on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an "equal weight" rating in a research report on Thursday. Truist Financial upped their target price 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. Finally, Evercore ISI set a $185.00 price target on shares of Quest Diagnostics in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Quest Diagnostics currently has an average rating of "Moderate Buy" and an average price target of $186.31.

Quest Diagnostics Trading Down 1.0%

Shares of Quest Diagnostics stock opened at $179.07 on Monday. 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 Incorporated has a 1 year low of $146.17 and a 1 year high of $191.49. The firm has a market cap of $20.02 billion, a PE ratio of 21.45, a PEG ratio of 2.38 and a beta of 0.56. The company has a 50 day simple moving average of $179.92 and a two-hundred day simple moving average of $175.09.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the firm 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. Analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

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

Insider Activity

In related news, SVP Karthik Kuppusamy sold 8,269 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the transaction, the senior vice president directly owned 10,660 shares of the company's stock, valued at approximately $1,784,484. This trade represents a 43.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Patrick Plewman sold 5,535 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the sale, the senior vice president directly owned 19,219 shares of the company's stock, valued at approximately $3,363,325. This represents a 22.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,186 shares of company stock worth $9,647,471. 8.16% of the stock is currently owned by insiders.

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.

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