Ransom Advisory Ltd Takes Position in Quest Diagnostics Incorporated $DGX

Key Points

• Ransom Advisory Ltd acquired a new stake in Quest Diagnostics, purchasing 1,700 shares valued at approximately $288,000 in the first quarter of this year.
• Institutional investors and hedge funds hold 88.06% of the stock, showcasing strong support from major players in the market.
• Quest Diagnostics recently declared a quarterly dividend of $0.80, representing an annualized dividend yield of 1.8%.

Ransom Advisory Ltd acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,700 shares of the medical research company's stock, valued at approximately $288,000.

A number of other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Quest Diagnostics by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company's stock valued at $1,012,534,000 after buying an additional 493,960 shares during the last quarter. Boston Partners acquired a new stake in shares of Quest Diagnostics in the first quarter valued at approximately $388,724,000. Alliancebernstein L.P. lifted its position in shares of Quest Diagnostics by 7.7% in the first quarter. Alliancebernstein L.P. now owns 1,177,572 shares of the medical research company's stock valued at $199,245,000 after buying an additional 84,530 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Quest Diagnostics by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,030 shares of the medical research company's stock worth $171,405,000 after purchasing an additional 10,651 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Quest Diagnostics by 14.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,002,379 shares of the medical research company's stock worth $151,219,000 after purchasing an additional 128,285 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. William Blair reissued an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Robert W. Baird reissued a "neutral" rating and set a $194.00 price target on shares of Quest Diagnostics in a report on Monday, August 25th. Truist Financial lifted their price target on Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Evercore ISI set a $185.00 price target on Quest Diagnostics in a report on Wednesday, July 23rd. Finally, UBS Group dropped their price target on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday, July 18th. One investment 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 company's stock. According to data from MarketBeat, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and an average target price of $186.00.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Patrick Plewman sold 5,535 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total transaction of $968,625.00. Following the sale, the senior vice president owned 19,219 shares in the company, valued at $3,363,325. The trade was a 22.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 8,269 shares of the business's stock in a transaction on 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 sale, the senior vice president owned 10,660 shares in the company, valued at $1,784,484. This represents a 43.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,496 shares of company stock worth $4,278,787. Corporate insiders own 8.16% of the company's stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $182.69 on Wednesday. The stock's fifty day moving average price is $175.42 and its two-hundred day moving average price is $173.55. Quest Diagnostics Incorporated has a one year low of $146.17 and a one year high of $185.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The firm has a market cap of $20.43 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.05. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the company earned $2.35 EPS. The company's 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. As a group, research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

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

Quest Diagnostics Company 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.

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