Quest Diagnostics Incorporated $DGX Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its stake in Quest Diagnostics by 26.8%, selling 11,900 shares, which left them with 32,429 shares valued at approximately $5.49 million.
• Quest Diagnostics has a dividend of $0.80 per share, set to be paid on October 20th, with a current annualized yield of 1.8%.
• The company reported a 15.2% year-over-year increase in revenue for the last quarter, totaling $2.76 billion, alongside earnings per share of $2.62, exceeding analysts' expectations.

Korea Investment CORP reduced its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 26.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,429 shares of the medical research company's stock after selling 11,900 shares during the period. Korea Investment CORP's holdings in Quest Diagnostics were worth $5,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC grew its position in Quest Diagnostics by 57.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after purchasing an additional 67 shares during the period. First Horizon Advisors Inc. grew its position in Quest Diagnostics by 76.6% during the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares during the period. Golden State Wealth Management LLC grew its position in Quest Diagnostics by 157.3% during the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after purchasing an additional 118 shares during the period. NBC Securities Inc. acquired a new stake in Quest Diagnostics during the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC grew its position in 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 period. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DGX shares. UBS Group lowered their target price on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Truist Financial increased their target price on shares of Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Piper Sandler increased their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

Quest Diagnostics Trading Down 2.0%

Shares of Quest Diagnostics stock opened at $180.10 on Friday. The firm has a market capitalization of $20.14 billion, a PE ratio of 21.57, a P/E/G ratio of 2.44 and a beta of 0.46. Quest Diagnostics Incorporated has a twelve month low of $146.17 and a twelve month high of $185.62. The firm's 50-day moving average price is $175.09 and its 200 day moving average price is $172.44. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71.

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 for the quarter, beating analysts' consensus estimates of $2.57 by $0.05. The firm had revenue of $2.76 billion for 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%. Quest Diagnostics's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Quest Diagnostics's dividend payout ratio (DPR) is currently 38.32%.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Patrick Plewman sold 5,535 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the sale, the senior vice president owned 19,219 shares in the company, valued at approximately $3,363,325. This represents a 22.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karthik Kuppusamy sold 8,269 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the completion of the sale, the senior vice president owned 10,660 shares of the company's stock, valued at approximately $1,784,484. The trade was a 43.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,521 shares of company stock worth $3,913,412 over the last ninety days. 8.16% of the stock is currently owned by corporate insiders.

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.

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