Quest Diagnostics Incorporated $DGX Position Increased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its holdings in Quest Diagnostics by 34.5% in Q1, acquiring an additional 2,441 shares, bringing their total to 9,521 shares valued at $1,611,000.
• Quest Diagnostics' recent earnings report showed an EPS of $2.62, exceeding analysts' expectations, with a year-over-year revenue increase of 15.2% to $2.76 billion.
• The company announced a quarterly dividend of $0.80 per share, payable on October 20th, representing an annualized dividend yield of 1.7%.

NewEdge Advisors LLC raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 34.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,521 shares of the medical research company's stock after buying an additional 2,441 shares during the period. NewEdge Advisors LLC's holdings in Quest Diagnostics were worth $1,611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC lifted its position in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock valued at $31,000 after buying an additional 67 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after buying an additional 82 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Quest Diagnostics by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock valued at $33,000 after buying an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new position in Quest Diagnostics during the first quarter valued at approximately $35,000. Finally, Continuum Advisory LLC lifted its position in Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after buying an additional 222 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Stock Up 0.8%

Shares of NYSE:DGX traded up $1.38 during midday trading on Thursday, reaching $183.63. The company had a trading volume of 667,828 shares, compared to its average volume of 654,138. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The stock's fifty day moving average price is $176.37 and its 200-day moving average price is $173.94. The stock has a market capitalization of $20.53 billion, a P/E ratio of 21.99, a PEG ratio of 2.42 and a beta of 0.54. 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 issued its quarterly 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. The business 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 business's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, October 3rd. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics's payout ratio is presently 38.32%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the sale, the senior vice president owned 8,450 shares in the company, valued at $1,436,500. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Patrick Plewman sold 1,975 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total transaction of $365,375.00. Following the sale, the senior vice president owned 15,269 shares of the company's stock, valued at approximately $2,824,765. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,496 shares of company stock valued at $4,278,787. 8.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group reduced their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Truist Financial lifted their price objective on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. One research 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 company's stock. According to data from MarketBeat.com, Quest Diagnostics has a consensus rating of "Moderate Buy" and a consensus target price of $186.00.

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.