Bank of Montreal Can Sells 10,296 Shares of Quest Diagnostics Incorporated $DGX

Bank of Montreal Can decreased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,962 shares of the medical research company’s stock after selling 10,296 shares during the period. Bank of Montreal Can’s holdings in Quest Diagnostics were worth $36,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DGX. Y Intercept Hong Kong Ltd acquired a new position in Quest Diagnostics in the first quarter valued at about $1,228,000. Brown Advisory Inc. lifted its holdings in shares of Quest Diagnostics by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company’s stock valued at $1,198,000 after purchasing an additional 150 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Quest Diagnostics during the 1st quarter valued at about $2,760,000. Fred Alger Management LLC grew its position in shares of Quest Diagnostics by 9.9% in the 1st quarter. Fred Alger Management LLC now owns 19,378 shares of the medical research company’s stock valued at $3,279,000 after purchasing an additional 1,745 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new stake in Quest Diagnostics during the 1st quarter worth approximately $1,408,000. 88.06% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Michael E. Prevoznik sold 227 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $188.13, for a total value of $42,705.51. Following the completion of the transaction, the senior vice president directly owned 38,117 shares of the company’s stock, valued at approximately $7,170,951.21. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary M. Pfeiffer sold 1,482 shares of the business’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $182.40, for a total transaction of $270,316.80. Following the transaction, the director owned 29,431 shares in the company, valued at approximately $5,368,214.40. The trade was a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,654 shares of company stock valued at $7,189,232. 8.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DGX. UBS Group lifted their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Wall Street Zen upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Piper Sandler upped their target price on shares of Quest Diagnostics from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft increased their target price on Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Finally, Mizuho boosted their price target on Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.31.

Quest Diagnostics Stock Down 1.0%

Shares of DGX stock opened at $176.52 on Friday. The firm’s fifty day moving average price is $182.39 and its two-hundred day moving average price is $177.69. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 1 year low of $148.70 and a 1 year high of $197.55. The firm has a market capitalization of $19.64 billion, a P/E ratio of 20.72, a PEG ratio of 2.31 and a beta of 0.58.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.09. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.73 billion. Quest Diagnostics had a net margin of 8.91% and a return on equity of 15.47%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.30 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. On average, equities analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. Quest Diagnostics’s payout ratio is 37.56%.

Quest Diagnostics 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.