Quest Diagnostics Incorporated $DGX Shares Bought by Quantum Portfolio Management LLC

by · The Cerbat Gem

Quantum Portfolio Management LLC lifted its position in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 61.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,659 shares of the medical research company’s stock after purchasing an additional 4,453 shares during the quarter. Quantum Portfolio Management LLC’s holdings in Quest Diagnostics were worth $2,222,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DGX. Brighton Jones LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at $323,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Quest Diagnostics by 2.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,230 shares of the medical research company’s stock valued at $2,377,000 after purchasing an additional 300 shares during the period. Wedmont Private Capital lifted its stake in shares of Quest Diagnostics by 3.1% during the second quarter. Wedmont Private Capital now owns 2,603 shares of the medical research company’s stock worth $452,000 after purchasing an additional 78 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Quest Diagnostics by 11.5% in the second quarter. Exchange Traded Concepts LLC now owns 6,473 shares of the medical research company’s stock worth $1,163,000 after buying an additional 667 shares during the period. Finally, IFM Investors Pty Ltd grew its stake in shares of Quest Diagnostics by 7.7% in the second quarter. IFM Investors Pty Ltd now owns 23,411 shares of the medical research company’s stock valued at $4,205,000 after buying an additional 1,676 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling at Quest Diagnostics

In other news, CEO J. E. Davis sold 55,093 shares of Quest Diagnostics stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total value of $10,589,976.46. Following the completion of the transaction, the chief executive officer directly owned 120,480 shares of the company’s stock, valued at approximately $23,158,665.60. The trade was a 31.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Pfeiffer sold 1,482 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was 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 approximately $5,368,214.40. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 65,771 shares of company stock valued at $12,588,676. Corporate insiders own 8.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DGX shares. Evercore ISI upped their price target on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a report on Wednesday, October 8th. Mizuho upped their target price on shares of Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. 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. Truist Financial raised their target price on Quest Diagnostics from $195.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Finally, Jefferies Financial Group increased their price target on Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and an average target price of $197.27.

Read Our Latest Research Report on Quest Diagnostics

Quest Diagnostics Stock Down 0.5%

Shares of Quest Diagnostics stock opened at $189.27 on Monday. The business has a 50-day moving average price of $181.90 and a 200 day moving average price of $179.84. Quest Diagnostics Incorporated has a fifty-two week low of $150.14 and a fifty-two week high of $197.55. The firm has a market cap of $21.05 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.41 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71.

Quest Diagnostics (NYSE:DGXGet Free Report) last issued its earnings results on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.51 by $0.09. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm earned $2.30 EPS. The business’s revenue was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. On average, sell-side analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 13th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.56%.

Quest Diagnostics Profile

(Free Report)

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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