Teewinot Capital Advisers L.L.C. Takes $2.14 Million Position in Quest Diagnostics Incorporated $DGX

Key Points

• Teewinot Capital Advisers L.L.C. made a new investment of approximately $2.14 million in Quest Diagnostics by acquiring 12,621 shares, marking it as the fund's 28th largest position.
• Insider activity has been considerable, with senior vice president Patrick Plewman selling 5,535 shares worth $968,625, resulting in a 22.36% decrease in his holdings.
• Quest Diagnostics reported earnings of $2.62 per share for the latest quarter, surpassing analyst expectations, with revenue up by 15.2% year-over-year.

Teewinot Capital Advisers L.L.C. purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,621 shares of the medical research company's stock, valued at approximately $2,135,000. Quest Diagnostics makes up approximately 0.2% of Teewinot Capital Advisers L.L.C.'s portfolio, making the stock its 28th largest holding.

A number of other large investors have also recently bought and sold shares of DGX. Y Intercept Hong Kong Ltd bought a new position in Quest Diagnostics in the 1st quarter valued at approximately $1,228,000. First Horizon Advisors Inc. grew its position in Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after purchasing an additional 82 shares during the period. Janney Montgomery Scott LLC grew its position in Quest Diagnostics by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock valued at $3,047,000 after purchasing an additional 1,566 shares during the period. Brown Advisory Inc. grew its position in Quest Diagnostics by 2.2% in the 1st quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company's stock valued at $1,198,000 after purchasing an additional 150 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Quest Diagnostics by 10.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company's stock valued at $2,439,000 after purchasing an additional 1,348 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Trading Up 0.1%

Shares of DGX traded up $0.17 during mid-day trading on Friday, reaching $183.63. The company's stock had a trading volume of 149,554 shares, compared to its average volume of 1,122,738. The stock has a market cap of $20.53 billion, a PE ratio of 21.99, a P/E/G ratio of 2.39 and a beta of 0.54. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 52 week low of $146.17 and a 52 week high of $185.62. The company's fifty day moving average price is $175.59 and its two-hundred day moving average price is $173.67.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the business posted $2.35 EPS. The business's quarterly 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. On average, analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's dividend payout ratio is currently 38.32%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DGX shares. 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 increased their target price on shares of Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. Finally, William Blair reaffirmed an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Quest Diagnostics has an average rating of "Moderate Buy" and a consensus price target of $186.00.

Insiders Place Their Bets

In related news, SVP Karthik Kuppusamy sold 2,210 shares of the company's 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 directly owned 8,450 shares in the company, valued at $1,436,500. This represents a 20.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 owned 15,269 shares of the company's stock, 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 quarter. 8.16% of the stock is currently owned by company insiders.

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.