Bank of Nova Scotia acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) in the second quarter, HoldingsChannel.com reports. The firm acquired 13,561 shares of the medical research company’s stock, valued at approximately $2,874,000.
A number of other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its position in Quest Diagnostics by 3.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,387 shares of the medical research company’s stock worth $241,000 after purchasing an additional 50 shares during the last quarter. Ossiam lifted its stake in shares of Quest Diagnostics by 6.1% in the 3rd quarter. Ossiam now owns 1,059 shares of the medical research company’s stock worth $202,000 after purchasing an additional 61 shares during the period. Independent Advisor Alliance lifted its stake in shares of Quest Diagnostics by 1.6% in the 4th quarter. Independent Advisor Alliance now owns 4,298 shares of the medical research company’s stock worth $746,000 after purchasing an additional 66 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Quest Diagnostics by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 7,287 shares of the medical research company’s stock worth $1,265,000 after buying an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Quest Diagnostics by 9.6% in the fourth quarter. Hantz Financial Services Inc. now owns 835 shares of the medical research company’s stock worth $145,000 after buying an additional 73 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.
Insider Activity
In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,147 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the sale, the senior vice president directly owned 13,510 shares of the company’s stock, valued at $2,702,000. The trade was a 37.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $194.14, for a total value of $1,941,400.00. Following the sale, the chief executive officer directly owned 132,423 shares in the company, valued at $25,708,601.22. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 19,747 shares of company stock worth $3,947,088. 0.88% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Stock Report on Quest Diagnostics
Quest Diagnostics Stock Performance
NYSE DGX opened at $244.78 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.59 and a quick ratio of 1.46. Quest Diagnostics Incorporated has a 1-year low of $171.18 and a 1-year high of $246.00. The business has a 50 day simple moving average of $222.01 and a two-hundred day simple moving average of $206.46. The stock has a market capitalization of $27.02 billion, a PE ratio of 25.99, a P/E/G ratio of 2.25 and a beta of 0.56.
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 (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.30. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.62 EPS. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. On average, research analysts predict that Quest Diagnostics Incorporated will post 11.15 EPS for the current fiscal year.
Quest Diagnostics Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Tuesday, October 6th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, October 6th. Quest Diagnostics’s dividend payout ratio is currently 36.52%.
Quest Diagnostics Profile
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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