Quest Diagnostics Incorporated $DGX Shares Acquired by Ethic Inc.

Key Points

• Ethic Inc. boosted its Quest Diagnostics stake by 41.4% in the fourth quarter, adding 5,967 shares to bring its total to 20,391 shares worth about $3.54 million.
• Quest Diagnostics reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.90 billion topping forecasts; revenue rose 9.2% year over year.
• The company’s board authorized a $1 billion share buyback, while analysts maintain a Moderate Buy consensus with an average price target of $216.58.

Ethic Inc. increased its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 41.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,391 shares of the medical research company's stock after acquiring an additional 5,967 shares during the period. Ethic Inc.'s holdings in Quest Diagnostics were worth $3,539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC raised its stake in shares of Quest Diagnostics by 114.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 150 shares of the medical research company's stock worth $26,000 after buying an additional 80 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Quest Diagnostics by 113.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 156 shares of the medical research company's stock worth $27,000 after buying an additional 83 shares during the last quarter. McIlrath & Eck LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter worth $32,000. First Horizon Corp acquired a new position in shares of Quest Diagnostics during the 3rd quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Quest Diagnostics during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

NYSE DGX opened at $189.88 on Tuesday. Quest Diagnostics Incorporated has a 1-year low of $164.65 and a 1-year high of $213.50. The business's 50-day simple moving average is $197.38 and its 200-day simple moving average is $189.79. The firm has a market capitalization of $21.02 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.18 and a quick ratio of 1.08.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical research company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.13. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. The business's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Equities analysts predict that Quest Diagnostics Incorporated will post 10.73 EPS for the current year.

Quest Diagnostics announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Patrick Plewman sold 2,855 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $206.21, for a total transaction of $588,729.55. Following the transaction, the senior vice president owned 15,198 shares in the company, valued at $3,133,979.58. The trade was a 15.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Catherine T. Doherty sold 5,558 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $1,146,115.18. Following the transaction, the executive vice president owned 67,122 shares in the company, valued at approximately $13,841,227.62. This represents a 7.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 18,421 shares of company stock worth $3,790,214. Company insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

DGX has been the subject of a number of analyst reports. UBS Group boosted their price target on Quest Diagnostics from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Citigroup raised their price target on shares of Quest Diagnostics from $190.00 to $215.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. Mizuho boosted their price target on Quest Diagnostics from $210.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. Robert W. Baird increased their price target on Quest Diagnostics from $224.00 to $229.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Finally, Evercore set a $225.00 price target on Quest Diagnostics in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $216.58.

About Quest Diagnostics

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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