US Bancorp DE Has $4.35 Million Stake in Quest Diagnostics Incorporated $DGX

by · The Cerbat Gem

US Bancorp DE grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 2.7% during the second quarter, Holdings Channel.com reports. The firm owned 24,192 shares of the medical research company’s stock after buying an additional 630 shares during the period. US Bancorp DE’s holdings in Quest Diagnostics were worth $4,346,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DGX. Boston Partners acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at about $388,724,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Quest Diagnostics by 9.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company’s stock valued at $1,012,534,000 after purchasing an additional 493,960 shares during the period. Nuveen LLC acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at about $55,587,000. Coho Partners Ltd. acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at about $30,839,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at about $29,213,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Karthik Kuppusamy sold 2,210 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total value of $375,700.00. Following the completion of the sale, the senior vice president directly owned 8,450 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total value of $365,375.00. Following the completion of the sale, the senior vice president directly owned 15,269 shares of the company’s stock, valued at $2,824,765. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,186 shares of company stock valued at $9,647,471 over the last 90 days. 8.16% of the stock is currently owned by company insiders.

Quest Diagnostics Stock Down 0.7%

Shares of Quest Diagnostics stock opened at $182.81 on Tuesday. The stock has a market capitalization of $20.44 billion, a P/E ratio of 21.89, a PEG ratio of 2.44 and a beta of 0.56. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $181.42 and a two-hundred day moving average price of $175.72. Quest Diagnostics Incorporated has a 12-month low of $146.91 and a 12-month high of $191.49.

Quest Diagnostics (NYSE:DGX – Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.05. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The company’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Quest Diagnostics’s dividend payout ratio is presently 38.32%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DGX shares. UBS Group dropped their target price on Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Barclays increased their price objective on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Quest Diagnostics in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.63.

View Our Latest Analysis on Quest Diagnostics

About Quest Diagnostics

(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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