Quest Diagnostics Incorporated $DGX Stock Position Raised by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management dramatically increased its Quest Diagnostics stake in the fourth quarter, boosting holdings by 13,215.1% to 11,451 shares worth about $1.99 million.
• Quest Diagnostics reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.90 billion topping expectations, while revenue rose 9.2% year over year.
• The company also approved a $1 billion share repurchase program, and analysts remain moderately bullish with an average price target of $216.58.

iA Global Asset Management Inc. lifted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 13,215.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,451 shares of the medical research company's stock after acquiring an additional 11,365 shares during the quarter. iA Global Asset Management Inc.'s holdings in Quest Diagnostics were worth $1,987,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DGX. JFS Wealth Advisors LLC boosted its stake 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 acquiring an additional 80 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Quest Diagnostics by 113.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 156 shares of the medical research company's stock valued at $27,000 after purchasing an additional 83 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter valued at $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Quest Diagnostics in the third quarter valued at $33,000. Finally, ORG Partners LLC lifted its holdings in shares of Quest Diagnostics by 66.1% in the fourth quarter. ORG Partners LLC now owns 211 shares of the medical research company's stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

Insider Transactions at Quest Diagnostics

In related news, SVP Patrick Plewman sold 2,855 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $588,729.55. Following the transaction, the senior vice president owned 15,198 shares in the company, valued at approximately $3,133,979.58. This represents a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Catherine T. Doherty sold 5,558 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $1,146,115.18. Following the completion of the transaction, the executive vice president owned 67,122 shares in the company, valued at $13,841,227.62. This represents a 7.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,421 shares of company stock worth $3,790,214. Corporate insiders own 0.88% of the company's stock.

Quest Diagnostics Price Performance

DGX opened at $189.87 on Tuesday. The stock has a market cap of $21.02 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 2.22 and a beta of 0.60. Quest Diagnostics Incorporated has a 1 year low of $164.65 and a 1 year high of $213.50. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average price of $195.43 and a 200 day moving average price of $190.07.

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

Quest Diagnostics declared that its board has approved a share repurchase program 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 buy up to 4.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group increased their target price on Quest Diagnostics from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Robert W. Baird increased their target price on Quest Diagnostics from $224.00 to $229.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Barclays increased their target price on Quest Diagnostics from $225.00 to $230.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Mizuho increased their target price on Quest Diagnostics from $210.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $225.00 target price on shares of Quest Diagnostics in a 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $216.58.

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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