Te Ahumairangi Investment Management Ltd Takes $6.49 Million Position in Quest Diagnostics Incorporated $DGX

Te Ahumairangi Investment Management Ltd bought a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,621 shares of the medical research company's stock, valued at approximately $6,490,000.

Other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc raised its holdings in shares of Quest Diagnostics by 1,728.6% during the 1st quarter. Key Financial Inc now owns 128 shares of the medical research company's stock worth $25,000 after acquiring an additional 121 shares in the last quarter. Quattro Advisors LLC bought a new stake in Quest Diagnostics in the fourth quarter worth $25,000. DV Equities LLC bought a new stake in Quest Diagnostics in the fourth quarter worth $27,000. Sittner & Nelson LLC purchased a new stake in Quest Diagnostics during the fourth quarter valued at $29,000. Finally, McIlrath & Eck LLC bought a new position in Quest Diagnostics during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Analysts Set New Price Targets

DGX has been the subject of a number of recent research reports. Weiss Ratings upgraded Quest Diagnostics from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, August 12th. Truist Financial increased their target price on shares of Quest Diagnostics from $225.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, July 24th. UBS Group upped their price target on shares of Quest Diagnostics from $220.00 to $232.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Wall Street Zen raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on Quest Diagnostics from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $235.31.

Quest Diagnostics Stock Down 0.0%

NYSE:DGX opened at $244.34 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.59 and a quick ratio of 1.46. The company's fifty day moving average price is $219.35 and its 200-day moving average price is $205.29. Quest Diagnostics Incorporated has a 1-year low of $171.18 and a 1-year high of $245.68. The firm has a market capitalization of $26.97 billion, a P/E ratio of 25.94, a PEG ratio of 2.25 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its earnings results on Thursday, July 23rd. The medical research company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.30. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $2.97 billion. Quest Diagnostics had a net margin of 9.18% and a return on equity of 16.01%. The business's revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.62 EPS. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. As a group, equities research analysts anticipate that Quest Diagnostics Incorporated will post 11.15 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be given a dividend of $0.86 per share. The ex-dividend date is Tuesday, October 6th. This represents a $3.44 dividend on an annualized basis and a yield of 1.4%. Quest Diagnostics's payout ratio is presently 36.52%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,147 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the transaction, the senior vice president owned 13,510 shares of the company's stock, valued at approximately $2,702,000. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark E. Delaney sold 1,600 shares of Quest Diagnostics stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $235.18, for a total value of $376,288.00. Following the transaction, the senior vice president owned 10,335 shares in the company, valued at approximately $2,430,585.30. This represents a 13.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 19,747 shares of company stock valued at $3,947,088. Corporate insiders own 0.88% of the company's stock.

Quest Diagnostics Company 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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