National Pension Service Buys 8,809 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• National Pension Service has increased its stake in Quest Diagnostics by 4.0%, owning approximately 227,378 shares valued at $38.47 million.
• Quest Diagnostics reported $2.62 EPS for its last quarter, exceeding expectations and reflecting a 15.2% year-over-year revenue growth to $2.76 billion.
• The company declared a $0.80 quarterly dividend payable on October 20, representing a 1.8% yield with a payout ratio of 38.32%.

National Pension Service increased its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,378 shares of the medical research company's stock after purchasing an additional 8,809 shares during the quarter. National Pension Service owned 0.20% of Quest Diagnostics worth $38,472,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BankPlus Wealth Management LLC grew its holdings in Quest Diagnostics by 2.5% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company's stock worth $408,000 after acquiring an additional 59 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Quest Diagnostics by 5.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company's stock valued at $179,000 after acquiring an additional 59 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in Quest Diagnostics by 0.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company's stock worth $1,948,000 after buying an additional 63 shares during the period. Clarius Group LLC raised its holdings in Quest Diagnostics by 4.8% during the 1st quarter. Clarius Group LLC now owns 1,421 shares of the medical research company's stock worth $240,000 after buying an additional 65 shares during the period. Finally, Azzad Asset Management Inc. ADV raised its holdings in Quest Diagnostics by 1.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company's stock worth $664,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Robert W. Baird lifted their price objective on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. William Blair reiterated an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Barclays raised their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. Finally, Piper Sandler raised their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus price target of $186.00.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock traded up $1.59 during trading on Wednesday, reaching $184.42. The company's stock had a trading volume of 313,284 shares, compared to its average volume of 1,163,214. The business's 50-day moving average price is $174.85 and its 200-day moving average price is $172.09. The firm has a market cap of $20.62 billion, a PE ratio of 22.05, a P/E/G ratio of 2.37 and a beta of 0.46. Quest Diagnostics Incorporated has a 52 week low of $146.17 and a 52 week high of $184.97. 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 (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.05. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current 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. This represents a $3.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics's payout ratio is 38.32%.

Insider Activity

In other Quest Diagnostics news, SVP Patrick Plewman sold 5,535 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total transaction of $968,625.00. Following the completion of the transaction, the senior vice president owned 19,219 shares of the company's stock, valued at approximately $3,363,325. The trade was a 22.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 8,269 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total value of $1,384,230.60. Following the transaction, the senior vice president directly 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. In the last three months, insiders have sold 17,989 shares of company stock valued at $3,084,056. Insiders own 8.16% of the company's stock.

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.