Neo Ivy Capital Management Invests $882,000 in Quest Diagnostics Incorporated $DGX
by Doug Wharley · The Cerbat GemNeo Ivy Capital Management bought a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,910 shares of the medical research company’s stock, valued at approximately $882,000.
Several other institutional investors have also modified their holdings of DGX. Brighton Jones LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $323,000. Kestra Private Wealth Services LLC lifted its position in Quest Diagnostics by 50.1% in the first quarter. Kestra Private Wealth Services LLC now owns 2,065 shares of the medical research company’s stock valued at $349,000 after acquiring an additional 689 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Quest Diagnostics by 4.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,617 shares of the medical research company’s stock valued at $1,458,000 after purchasing an additional 376 shares during the period. Choreo LLC boosted its holdings in shares of Quest Diagnostics by 4.5% in the first quarter. Choreo LLC now owns 1,662 shares of the medical research company’s stock valued at $281,000 after acquiring an additional 72 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Quest Diagnostics during the 1st quarter worth $1,228,000. Institutional investors and hedge funds own 88.06% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Barclays increased their price objective on Quest Diagnostics from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. UBS Group boosted their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Wall Street Zen lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI increased their price target on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an “in-line” rating in a research report on Wednesday, October 8th. Finally, Piper Sandler increased their price objective on Quest Diagnostics from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $196.31.
View Our Latest Stock Report on Quest Diagnostics
Insider Buying and Selling at Quest Diagnostics
In other news, Director Gary M. Pfeiffer sold 1,482 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $182.40, for a total transaction of $270,316.80. Following the sale, the director owned 29,431 shares in the company, valued at $5,368,214.40. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 7,946 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total transaction of $1,488,683.10. Following the completion of the transaction, the senior vice president owned 7,530 shares in the company, valued at $1,410,745.50. This represents a 51.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,118 shares of company stock valued at $7,127,684 over the last 90 days. 8.16% of the stock is owned by corporate insiders.
Quest Diagnostics Stock Performance
Shares of NYSE:DGX opened at $191.10 on Friday. The firm has a market capitalization of $21.26 billion, a PE ratio of 22.43, a P/E/G ratio of 2.31 and a beta of 0.58. Quest Diagnostics Incorporated has a 12 month low of $148.70 and a 12 month high of $197.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.04. The business has a 50-day moving average of $183.46 and a two-hundred day moving average of $178.56.
Quest Diagnostics (NYSE:DGX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.51 by $0.09. Quest Diagnostics had a net margin of 8.91% and a return on equity of 15.47%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm posted $2.30 earnings per share. Quest Diagnostics’s revenue for the quarter was up 13.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. As a group, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.
Quest Diagnostics Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 13th will be paid a $0.80 dividend. The ex-dividend date is Tuesday, January 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.56%.
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.
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