Quest Diagnostics Incorporated $DGX Shares Sold by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI lessened its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,046,921 shares of the medical research company's stock after selling 100,613 shares during the period. Quest Diagnostics accounts for approximately 2.0% of Fiduciary Management Inc. WI's investment portfolio, making the stock its 14th biggest position. Fiduciary Management Inc. WI owned approximately 0.94% of Quest Diagnostics worth $181,672,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DGX. JFS Wealth Advisors LLC raised its position in shares of Quest Diagnostics by 114.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 150 shares of the medical research company's stock worth $26,000 after purchasing an additional 80 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in Quest Diagnostics by 113.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 156 shares of the medical research company's stock valued at $27,000 after acquiring an additional 83 shares during the last quarter. Sittner & Nelson LLC acquired a new stake in Quest Diagnostics in the 4th quarter valued at about $29,000. McIlrath & Eck LLC acquired a new stake in Quest Diagnostics in the 4th quarter valued at about $32,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Quest Diagnostics in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, CEO J. E. Davis sold 10,000 shares of the 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 sale, the chief executive officer directly owned 132,423 shares in the company, valued at $25,708,601.22. This represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DGX. Weiss Ratings cut shares of Quest Diagnostics from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, May 19th. Evercore set a $225.00 price target on shares of Quest Diagnostics in a research note on Tuesday, April 21st. Truist Financial increased their price objective on shares of Quest Diagnostics from $220.00 to $225.00 and gave the stock a "hold" rating in a research report on Wednesday, April 22nd. Citigroup increased their price objective on shares of Quest Diagnostics from $190.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $225.00 price objective on shares of Quest Diagnostics in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Quest Diagnostics has an average rating of "Moderate Buy" and a consensus target price of $216.58.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $200.74 on Friday. The stock has a market capitalization of $22.22 billion, a P/E ratio of 22.18, a PEG ratio of 2.39 and a beta of 0.59. Quest Diagnostics Incorporated has a fifty-two week low of $164.65 and a fifty-two week high of $213.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.18. The company has a 50 day moving average price of $194.43 and a 200 day moving average price of $191.33.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical research company reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.13. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. The firm's quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 EPS. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Equities research analysts forecast that Quest Diagnostics Incorporated will post 10.72 EPS for the current year.

Quest Diagnostics announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 10th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.86 per share. The ex-dividend date is Wednesday, July 8th. This represents a $3.44 dividend on an annualized basis and a yield of 1.7%. Quest Diagnostics's dividend payout ratio is 38.01%.

About Quest Diagnostics

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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