SEB Asset Management AB bought a new position in Quest Diagnostics Incorporated (NYSE:DGX – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 139,951 shares of the medical research company’s stock, valued at approximately $27,428,000.
Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $229,522,000. Boston Partners lifted its holdings in Quest Diagnostics by 32.8% in the third quarter. Boston Partners now owns 4,036,881 shares of the medical research company’s stock worth $767,978,000 after buying an additional 997,033 shares during the period. EdgePoint Investment Group Inc. boosted its position in Quest Diagnostics by 95.5% during the 4th quarter. EdgePoint Investment Group Inc. now owns 1,661,072 shares of the medical research company’s stock valued at $288,246,000 after acquiring an additional 811,320 shares in the last quarter. UBS Group AG boosted its position in Quest Diagnostics by 67.8% during the 4th quarter. UBS Group AG now owns 1,114,451 shares of the medical research company’s stock valued at $193,391,000 after acquiring an additional 450,161 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Quest Diagnostics by 36.3% during the 2nd quarter. Bank of America Corp DE now owns 1,599,602 shares of the medical research company’s stock worth $287,337,000 after acquiring an additional 426,399 shares during the period. Institutional investors own 88.06% of the company’s stock.
Insider Activity at Quest Diagnostics
In other Quest Diagnostics news, CEO J. E. Davis sold 10,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the sale, the chief executive officer directly owned 132,423 shares in the company, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of Quest Diagnostics stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $200.00, for a total value of $1,629,400.00. Following the completion of the sale, the senior vice president directly owned 13,510 shares of the company’s stock, valued at approximately $2,702,000. The trade was a 37.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.88% of the company’s stock.
Quest Diagnostics Stock Performance
Quest Diagnostics (NYSE:DGX – Get Free Report) last issued its earnings results on Tuesday, April 21st. The medical research company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.13. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Sell-side analysts expect that Quest Diagnostics Incorporated will post 10.72 EPS for the current fiscal year.
Quest Diagnostics Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, July 8th. Quest Diagnostics’s payout ratio is presently 38.01%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on DGX shares. Weiss Ratings raised Quest Diagnostics from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating and set a $225.00 price target on shares of Quest Diagnostics in a research report on Tuesday, April 21st. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday. UBS Group raised their price objective on Quest Diagnostics from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Evercore set a $225.00 target price on shares of Quest Diagnostics in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Quest Diagnostics has a consensus rating of “Moderate Buy” and an average price target of $217.17.
Read Our Latest Stock Report on Quest Diagnostics
About Quest Diagnostics
Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.
Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.
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