Glenmede Trust Co. NA lessened its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,694 shares of the medical research company’s stock after selling 2,882 shares during the period. Glenmede Trust Co. NA owned about 0.08% of Quest Diagnostics worth $16,794,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Quest Diagnostics during the 4th quarter worth $229,522,000. Boston Partners lifted its holdings in shares of Quest Diagnostics by 32.8% in the 3rd 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. grew its position in shares of 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 worth $288,246,000 after buying an additional 811,320 shares in the last quarter. UBS Group AG grew its position in shares of 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 worth $193,391,000 after buying an additional 450,161 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Quest Diagnostics by 36.3% during the second quarter. Bank of America Corp DE now owns 1,599,602 shares of the medical research company’s stock valued at $287,337,000 after buying an additional 426,399 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.
Insider Transactions at Quest Diagnostics
In other news, SVP Mark E. Delaney sold 1,600 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $235.18, for a total transaction of $376,288.00. Following the sale, the senior vice president owned 10,335 shares in the company, valued at approximately $2,430,585.30. The trade was a 13.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the transaction, the senior vice president owned 13,510 shares in the company, valued at approximately $2,702,000. This trade represents a 37.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 19,747 shares of company stock worth $3,947,088. Insiders own 0.88% of the company’s stock.
Quest Diagnostics Trading Down 0.5%
Quest Diagnostics (NYSE:DGX – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.30. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.97 billion. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.62 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. As a group, equities research analysts anticipate that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current fiscal year.
Quest Diagnostics Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, July 8th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 36.52%.
Analysts Set New Price Targets
Several research firms recently weighed in on DGX. Argus set a $260.00 price objective on Quest Diagnostics in a report on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a $245.00 target price on shares of Quest Diagnostics in a research report on Thursday, July 23rd. UBS Group boosted their price target on shares of Quest Diagnostics from $220.00 to $232.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Truist Financial upped their price target on shares of Quest Diagnostics from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Finally, Mizuho increased their price objective on shares of Quest Diagnostics from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $235.31.
Get Our Latest Analysis on DGX
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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