Quest Diagnostics Incorporated $DGX Shares Bought by Cwm LLC

Key Points

• Cwm LLC increased its holdings in Quest Diagnostics by 13.4%, owning 23,853 shares valued at approximately $4.28 million after purchasing additional shares in the second quarter.
• Quest Diagnostics recently reported earnings of $2.62 per share, exceeding analysts' estimates, with quarterly revenue rising 15.2% year-over-year to $2.76 billion.
• The company declared a quarterly dividend of $0.80 per share, with an annualized yield of 1.7%, reflecting a payout ratio of 38.32%.

Cwm LLC raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 13.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,853 shares of the medical research company's stock after purchasing an additional 2,827 shares during the period. Cwm LLC's holdings in Quest Diagnostics were worth $4,285,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DGX. Pinnacle Bancorp Inc. grew its holdings in Quest Diagnostics by 126.9% in the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company's stock valued at $27,000 after purchasing an additional 85 shares during the period. First Horizon Advisors Inc. grew its holdings in Quest Diagnostics by 76.6% in the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after purchasing an additional 82 shares during the period. Golden State Wealth Management LLC grew its holdings in 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 valued at $33,000 after purchasing an additional 118 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Quest Diagnostics in the second quarter valued at approximately $35,000. Finally, Continuum Advisory LLC boosted its stake in shares of Quest Diagnostics by 11,100.0% in the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after acquiring an additional 222 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Stock Down 0.4%

DGX opened at $186.61 on Friday. The company has a market cap of $20.87 billion, a PE ratio of 22.35, a P/E/G ratio of 2.49 and a beta of 0.56. The business has a 50 day moving average price of $182.19 and a two-hundred day moving average price of $175.99. Quest Diagnostics Incorporated has a 52 week low of $146.91 and a 52 week high of $191.49. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71.

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, topping analysts' consensus estimates of $2.57 by $0.05. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the prior year, the business posted $2.35 EPS. The company's revenue for the quarter was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given 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 1.7%. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DGX shares. UBS Group lowered their price target on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Barclays lifted their price target on Quest Diagnostics from $185.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 2nd. Truist Financial set a $195.00 price target on Quest Diagnostics in a research note on Tuesday. Robert W. Baird reaffirmed a "neutral" rating and issued a $194.00 price target on shares of Quest Diagnostics in a research note on Monday, August 25th. Finally, Evercore ISI lifted their price target on Quest Diagnostics from $185.00 to $190.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $186.81.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Patrick Plewman sold 5,535 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total transaction of $968,625.00. Following the completion of the transaction, the senior vice president owned 19,219 shares of the company's stock, valued at approximately $3,363,325. This trade represents a 22.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 8,269 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total value of $1,384,230.60. Following the transaction, the senior vice president directly owned 10,660 shares of the company's stock, valued at $1,784,484. The trade was a 43.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,186 shares of company stock valued at $9,647,471. Corporate insiders own 8.16% of the company's stock.

Quest Diagnostics 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.

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.