Quest Diagnostics Incorporated $DGX Shares Bought by Eastern Bank

Key Points

• Eastern Bank increased its Quest Diagnostics stake by 143.6% in the second quarter, ending with 189,969 shares worth approximately $40.3 million. Institutional investors collectively own 88.06% of the company.
• Quest Diagnostics exceeded quarterly expectations with adjusted EPS of $3.12 versus the $2.82 consensus and revenue of $3.04 billion, up 10.2% year over year. The company maintained fiscal 2026 EPS guidance of $11.05–$11.25.
• Analysts maintain a consensus “Hold” rating with a $235.31 price target, while the company’s quarterly dividend represents a $3.44 annualized payout and a 1.5% yield. Insiders sold 19,747 shares worth about $3.95 million during the quarter.

Eastern Bank raised its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 143.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,969 shares of the medical research company's stock after purchasing an additional 111,974 shares during the quarter. Eastern Bank owned 0.17% of Quest Diagnostics worth $40,264,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Key Financial Inc lifted its position in Quest Diagnostics by 1,728.6% during the first quarter. Key Financial Inc now owns 128 shares of the medical research company's stock valued at $25,000 after buying an additional 121 shares in the last quarter. Quattro Advisors LLC purchased a new stake in Quest Diagnostics during the fourth quarter worth approximately $25,000. DV Equities LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter worth $27,000. Sittner & Nelson LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $29,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Insider Activity

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,147 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $200.00, for a total value of $1,629,400.00. Following the completion of the transaction, the senior vice president owned 13,510 shares in the company, valued at approximately $2,702,000. This represents a 37.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the completion of the sale, the chief executive officer owned 132,423 shares in the company, valued at $25,708,601.22. The trade was a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 19,747 shares of company stock valued at $3,947,088. 0.88% of the stock is currently owned by company insiders.

Quest Diagnostics Trading Down 0.5%

Quest Diagnostics stock opened at $231.95 on Tuesday. Quest Diagnostics Incorporated has a 1 year low of $170.53 and a 1 year high of $240.13. The firm's 50-day moving average is $208.10 and its 200-day moving average is $200.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 1.59. The company has a market cap of $25.60 billion, a P/E ratio of 24.62, a PEG ratio of 2.15 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.30. Quest Diagnostics had a net margin of 9.18% and a return on equity of 16.01%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the business earned $2.62 earnings per share. Quest Diagnostics's quarterly revenue was up 10.2% on a year-over-year basis. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. On average, equities analysts expect that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $3.44 annualized dividend and a dividend yield of 1.5%. Quest Diagnostics's payout ratio is 36.52%.

Analyst Ratings Changes

A number of analysts recently weighed in on DGX shares. UBS Group increased their price target on Quest Diagnostics from $220.00 to $232.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Wall Street Zen raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a research report on Tuesday, July 28th. Truist Financial increased their price target on Quest Diagnostics from $225.00 to $250.00 and gave the company a "hold" rating in a report on Friday, July 24th. Argus set a $260.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 29th. Finally, Robert W. Baird lifted their price target on Quest Diagnostics from $236.00 to $255.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $235.31.

Quest Diagnostics Profile

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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