Sandler Capital Management Buys Shares of 19,993 Quest Diagnostics Incorporated $DGX

Key Points

• Sandler Capital Management has acquired a new position in Quest Diagnostics, purchasing 19,993 shares valued at approximately $3.38 million during Q1 2023.
• The company has experienced several rating adjustments from analysts, with a current average rating of "Moderate Buy" and a price target of $186.00.
• Quest Diagnostics has announced a quarterly dividend of $0.80 per share, set to be paid on October 20th, with an annualized yield of 1.7%.

Sandler Capital Management acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,993 shares of the medical research company's stock, valued at approximately $3,383,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DGX. Bruce G. Allen Investments LLC raised its position in shares of 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 buying an additional 67 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Quest Diagnostics by 76.6% during the first 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 in the last quarter. Golden State Wealth Management LLC raised its holdings in Quest Diagnostics by 157.3% during the first 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 in the last quarter. NBC Securities Inc. acquired a new stake in Quest Diagnostics in the first quarter worth approximately $35,000. Finally, Continuum Advisory LLC boosted its stake 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 valued at $38,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Trading Down 1.3%

Shares of DGX stock traded down $2.37 during trading hours on Wednesday, reaching $180.31. 652,122 shares of the stock traded hands, compared to its average volume of 724,638. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $20.16 billion, a PE ratio of 21.59, a PEG ratio of 2.42 and a beta of 0.54. Quest Diagnostics Incorporated has a 1-year low of $146.17 and a 1-year high of $185.62. The business has a fifty day moving average price of $175.49 and a 200 day moving average price of $173.60.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. During the same period in the previous year, the company posted $2.35 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics's dividend payout ratio is currently 38.32%.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of Quest Diagnostics stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the sale, the senior vice president owned 8,450 shares of the company's stock, valued at $1,436,500. This trade represents a 20.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Patrick Plewman sold 1,975 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total transaction of $365,375.00. Following the completion of the transaction, the senior vice president directly owned 15,269 shares in the company, valued at $2,824,765. This trade represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,496 shares of company stock valued at $4,278,787 over the last 90 days. Corporate insiders own 8.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DGX shares. Evercore ISI set a $185.00 price objective on Quest Diagnostics in a research note on Wednesday, July 23rd. UBS Group lowered their target price on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Wall Street Zen downgraded shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Truist Financial raised their price objective on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Finally, William Blair reiterated an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $186.00.

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.