IFM Investors Pty Ltd Purchases 1,676 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• IFM Investors Pty Ltd increased its stake in Quest Diagnostics by 7.7% during the second quarter, acquiring a total of 23,411 shares valued at approximately $4.2 million.
• Institutional and hedge fund ownership for Quest Diagnostics is notably high at 88.06%, with several firms adjusting their holdings significantly during the first quarter.
• Quest Diagnostics announced a quarterly dividend of $0.80, reflecting an annualized yield of 1.7%, with the ex-dividend date set for October 3rd.

IFM Investors Pty Ltd lifted its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,411 shares of the medical research company's stock after buying an additional 1,676 shares during the period. IFM Investors Pty Ltd's holdings in Quest Diagnostics were worth $4,205,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Bruce G. Allen Investments LLC raised its position in Quest Diagnostics by 57.8% in the 1st 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 during the last quarter. First Horizon Advisors Inc. increased its stake in Quest Diagnostics by 76.6% in the 1st 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 during the last quarter. Golden State Wealth Management LLC raised its holdings 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 worth $33,000 after acquiring an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new position in Quest Diagnostics during the first quarter worth $35,000. Finally, Continuum Advisory LLC increased its stake in shares of Quest Diagnostics by 11,100.0% during the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

Quest Diagnostics stock traded up $1.28 during mid-day trading on Monday, reaching $184.88. 975,957 shares of the company's stock were exchanged, compared to its average volume of 658,188. The business's fifty day simple moving average is $177.01 and its 200 day simple moving average is $174.09. The firm has a market capitalization of $20.67 billion, a PE ratio of 22.14, a P/E/G ratio of 2.44 and a beta of 0.54. 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 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 posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. During the same quarter last year, the company posted $2.35 EPS. The business's quarterly revenue was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is 38.32%.

Analyst Ratings Changes

DGX has been the topic of several research analyst reports. William Blair reissued an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Truist Financial upped their price objective on Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. UBS Group reduced their target price on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

Insider Activity at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 2,210 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $170.00, for a total value of $375,700.00. Following the completion of the sale, the senior vice president directly owned 8,450 shares of the company's stock, valued at approximately $1,436,500. This trade represents a 20.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total value of $365,375.00. Following the completion of the sale, the senior vice president directly owned 15,269 shares in the company, valued at approximately $2,824,765. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,496 shares of company stock valued at $4,278,787 in the last quarter. 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.