Dynamic Technology Lab Private Ltd Buys New Position in Quest Diagnostics Incorporated $DGX

Dynamic Technology Lab Private Ltd purchased a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,640 shares of the medical research company’s stock, valued at approximately $2,270,000.

Other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors boosted its holdings in shares of Quest Diagnostics by 2.7% in the second quarter. World Investment Advisors now owns 2,623 shares of the medical research company’s stock valued at $471,000 after acquiring an additional 68 shares during the period. Harbor Capital Advisors Inc. raised its position in Quest Diagnostics by 0.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,789 shares of the medical research company’s stock valued at $1,938,000 after purchasing an additional 69 shares during the last quarter. Choreo LLC boosted its stake in Quest Diagnostics by 4.5% during the 1st quarter. Choreo LLC now owns 1,662 shares of the medical research company’s stock worth $281,000 after purchasing an additional 72 shares during the period. Meridian Wealth Management LLC boosted its stake in Quest Diagnostics by 2.4% during the 1st quarter. Meridian Wealth Management LLC now owns 3,353 shares of the medical research company’s stock worth $567,000 after purchasing an additional 77 shares during the period. Finally, Wedmont Private Capital grew its position in Quest Diagnostics by 3.1% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Buying and Selling

In other news, Director Gary M. Pfeiffer sold 1,482 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 29,431 shares of the company’s stock, valued at $5,368,214.40. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the senior vice president owned 38,117 shares in the company, valued at approximately $7,170,951.21. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,172 shares of company stock valued at $5,639,001. Insiders own 8.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and set a $194.00 target price on shares of Quest Diagnostics in a research note on Monday, August 25th. Evercore ISI upped 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. Morgan Stanley set a $207.00 price objective on Quest Diagnostics and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. William Blair reiterated an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Moderate Buy” and an average target price of $196.31.

Quest Diagnostics Trading Up 0.4%

NYSE:DGX opened at $186.10 on Thursday. Quest Diagnostics Incorporated has a 1 year low of $148.70 and a 1 year high of $197.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 1.13. The stock has a fifty day moving average price of $183.21 and a two-hundred day moving average price of $178.40. The stock has a market capitalization of $20.70 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.31 and a beta of 0.58.

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

Quest Diagnostics Announces Dividend

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

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.