Turtle Creek Wealth Advisors LLC Purchases New Holdings in Quest Diagnostics Incorporated $DGX

Key Points

• Turtle Creek Wealth Advisors LLC has acquired a new stake in Quest Diagnostics, purchasing 1,348 shares valued at approximately $242,000 during the second quarter.
• Several institutional investors have increased their stakes in Quest Diagnostics, with Pinnacle Bancorp Inc. increasing its holdings by 126.9%.
• Analysts are optimistic about Quest Diagnostics, with a consensus rating of "Moderate Buy" and a target price of $189.06 as of recent evaluations.

Turtle Creek Wealth Advisors LLC purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,348 shares of the medical research company's stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DGX. Pinnacle Bancorp Inc. increased its holdings in shares of Quest Diagnostics by 126.9% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company's stock worth $27,000 after buying an additional 85 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Quest Diagnostics by 76.6% during the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after buying an additional 82 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Quest Diagnostics by 157.3% during the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after buying an additional 118 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Quest Diagnostics during the 2nd quarter worth approximately $35,000. Finally, Continuum Advisory LLC increased its holdings in shares of Quest Diagnostics by 11,100.0% during the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DGX shares. Barclays raised their price target on shares of Quest Diagnostics from $185.00 to $190.00 and gave the stock an "equal weight" rating in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $194.00 target price on shares of Quest Diagnostics in a report on Monday, August 25th. Evercore ISI lifted their target price on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an "in-line" rating in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.06.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics 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 value of $375,700.00. Following the completion of the transaction, the senior vice president owned 8,450 shares in the company, valued at $1,436,500. This represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael E. Prevoznik sold 227 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $188.13, for a total transaction of $42,705.51. Following the sale, the senior vice president owned 38,117 shares of the company's stock, valued at $7,170,951.21. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 53,186 shares of company stock valued at $9,647,471. Insiders own 8.16% of the company's stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $189.71 on Friday. 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 Incorporated has a 52 week low of $146.91 and a 52 week high of $191.49. The stock has a market capitalization of $21.21 billion, a PE ratio of 22.72, a P/E/G ratio of 2.48 and a beta of 0.56. The firm has a 50 day moving average of $182.44 and a two-hundred day moving average of $176.13.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating 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 company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same quarter last year, the company posted $2.35 EPS. The firm's 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, research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

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

Quest Diagnostics 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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