Moran Wealth Management LLC Purchases Shares of 103,311 Quest Diagnostics Incorporated $DGX

by · The Markets Daily

Moran Wealth Management LLC purchased a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 103,311 shares of the medical research company’s stock, valued at approximately $18,558,000. Moran Wealth Management LLC owned 0.09% of Quest Diagnostics as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. BankPlus Wealth Management LLC grew its stake in shares of Quest Diagnostics by 2.5% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company’s stock valued at $408,000 after purchasing an additional 59 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Quest Diagnostics by 5.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 59 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Quest Diagnostics by 0.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company’s stock valued at $1,948,000 after purchasing an additional 63 shares during the period. Clarius Group LLC grew its stake in shares of Quest Diagnostics by 4.8% during the 1st quarter. Clarius Group LLC now owns 1,421 shares of the medical research company’s stock valued at $240,000 after acquiring an additional 65 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its stake in shares of Quest Diagnostics by 1.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company’s stock valued at $664,000 after acquiring an additional 66 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DGX shares. Truist Financial boosted their price objective on Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Evercore ISI boosted their price objective on Quest Diagnostics from $185.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Quest Diagnostics from $160.00 to $178.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Finally, Barclays boosted their price objective on Quest Diagnostics from $185.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.63.

Get Our Latest Research Report on Quest Diagnostics

Insider Transactions at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 2,210 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total transaction of $375,700.00. Following the sale, the senior vice president directly owned 8,450 shares of the company’s stock, valued at $1,436,500. This represents a 20.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 227 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $188.13, for a total value of $42,705.51. Following the sale, the senior vice president directly owned 38,117 shares in the company, valued at $7,170,951.21. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,186 shares of company stock valued at $9,647,471 in the last ninety days. Corporate insiders own 8.16% of the company’s stock.

Quest Diagnostics Trading Down 0.7%

DGX stock opened at $182.81 on Tuesday. Quest Diagnostics Incorporated has a 1-year low of $146.91 and a 1-year high of $191.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The company has a market capitalization of $20.44 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.44 and a beta of 0.56. The business has a 50 day simple moving average of $181.42 and a two-hundred day simple moving average of $175.72.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the prior year, the company posted $2.35 EPS. The firm’s revenue for the quarter 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. Research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

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 issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics’s dividend payout ratio is 38.32%.

Quest Diagnostics Company Profile

(Free Report)

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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