Quest Diagnostics Incorporated $DGX Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,218 shares of the medical research company’s stock after acquiring an additional 128 shares during the period. Concurrent Investment Advisors LLC’s holdings in Quest Diagnostics were worth $398,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Sivik Global Healthcare LLC purchased a new position in shares of Quest Diagnostics in the 2nd quarter valued at $4,491,000. Aberdeen Group plc boosted its stake in Quest Diagnostics by 17.1% in the second quarter. Aberdeen Group plc now owns 104,307 shares of the medical research company’s stock valued at $18,737,000 after acquiring an additional 15,223 shares in the last quarter. Blue Trust Inc. boosted its stake in Quest Diagnostics by 7.7% in the second quarter. Blue Trust Inc. now owns 1,812 shares of the medical research company’s stock valued at $325,000 after acquiring an additional 129 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Quest Diagnostics during the second quarter worth about $619,000. Finally, Blair William & Co. IL increased its position in shares of Quest Diagnostics by 73.3% during the second quarter. Blair William & Co. IL now owns 91,209 shares of the medical research company’s stock worth $16,384,000 after purchasing an additional 38,588 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of DGX opened at $189.71 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $182.44 and its two-hundred day moving average is $176.18. Quest Diagnostics Incorporated has a twelve month low of $146.91 and a twelve month high of $191.49. The firm has a market capitalization of $21.21 billion, a PE ratio of 22.72, a P/E/G ratio of 2.51 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX) last posted 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 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 analysts’ expectations of $2.73 billion. During the same period last year, the firm earned $2.35 EPS. The company’s quarterly 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. Research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid 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 dividend yield of 1.7%. Quest Diagnostics’s dividend payout ratio is 38.32%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DGX shares. UBS Group raised their price target on Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial set a $195.00 price objective on Quest Diagnostics in a report on Tuesday. Barclays lifted their target price on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Evercore ISI increased their price target on shares of Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 8th. Finally, Robert W. Baird restated a “neutral” rating and issued a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. One 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’s stock. According to MarketBeat.com, Quest Diagnostics has an average rating of “Moderate Buy” and an average price target of $189.06.

Insider Activity

In other news, SVP Karthik Kuppusamy sold 8,269 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the completion of the sale, the senior vice president directly owned 10,660 shares in the company, valued at approximately $1,784,484. This trade represents a 43.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patrick Plewman sold 5,535 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total value of $968,625.00. Following the sale, the senior vice president directly owned 19,219 shares in the company, valued at $3,363,325. This trade represents a 22.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,186 shares of company stock worth $9,647,471 in the last 90 days. 8.16% of the stock is currently owned by corporate insiders.

Quest Diagnostics Company 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.