Quest Diagnostics Incorporated $DGX Position Increased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Quest Diagnostics by 1.1% in Q1, owning over 1 million shares valued at approximately $171.4 million.
• Quest Diagnostics reported earnings of $2.62 per share for the last quarter, exceeding analyst expectations, with a significant revenue growth of 15.2% year-over-year.
• The company announced a quarterly dividend of $0.80 per share, set to be paid on October 20th, representing an annualized yield of 1.7%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,013,030 shares of the medical research company's stock after buying an additional 10,651 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.91% of Quest Diagnostics worth $171,405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter worth about $323,000. Cetera Investment Advisers lifted its position in Quest Diagnostics by 8.6% during the fourth quarter. Cetera Investment Advisers now owns 18,399 shares of the medical research company's stock valued at $2,776,000 after buying an additional 1,462 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Quest Diagnostics during the fourth quarter worth approximately $554,000. Nissay Asset Management Corp Japan ADV increased its position in shares of Quest Diagnostics by 0.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 14,037 shares of the medical research company's stock worth $2,142,000 after acquiring an additional 90 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $249,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Down 1.2%

Shares of NYSE:DGX traded down $2.20 during midday trading on Monday, reaching $180.71. The company had a trading volume of 642,154 shares, compared to its average volume of 1,121,774. The stock has a market capitalization of $20.21 billion, a P/E ratio of 21.64, a PEG ratio of 2.43 and a beta of 0.54. The stock's fifty day moving average price is $175.67 and its 200-day moving average price is $173.73. 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 one year low of $146.17 and a one year high of $185.62.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities research 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 announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is currently 38.32%.

Insider Activity at Quest Diagnostics

In other news, SVP Patrick Plewman sold 5,535 shares of the business'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 in the company, valued at approximately $3,363,325. The trade was a 22.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karthik Kuppusamy sold 8,269 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total value of $1,384,230.60. Following the sale, the senior vice president directly owned 10,660 shares in the company, valued at approximately $1,784,484. This represents a 43.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,496 shares of company stock valued at $4,278,787. Insiders own 8.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DGX. UBS Group lowered their price target on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Robert W. Baird reiterated a "neutral" rating and set a $194.00 target price on shares of Quest Diagnostics in a report on Monday, August 25th. William Blair reissued an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $186.00.

Quest Diagnostics Company Profile

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.