Te Ahumairangi Investment Management Ltd Purchases 944 Shares of Quest Diagnostics Incorporated $DGX

Te Ahumairangi Investment Management Ltd boosted its position in Quest Diagnostics Incorporated (NYSE:DGX) by 2.4% in the 2nd quarter, Holdings Channel reports. The firm owned 39,998 shares of the medical research company’s stock after buying an additional 944 shares during the quarter. Quest Diagnostics accounts for approximately 1.3% of Te Ahumairangi Investment Management Ltd’s portfolio, making the stock its 22nd biggest position. Te Ahumairangi Investment Management Ltd’s holdings in Quest Diagnostics were worth $7,185,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DGX. World Investment Advisors lifted its stake in shares of Quest Diagnostics by 2.7% during the 2nd quarter. World Investment Advisors now owns 2,623 shares of the medical research company’s stock worth $471,000 after acquiring an additional 68 shares during the last quarter. Harbor Capital Advisors Inc. grew 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 acquiring an additional 69 shares during the last quarter. Personal CFO Solutions LLC increased its stake in Quest Diagnostics by 2.3% in the second quarter. Personal CFO Solutions LLC now owns 3,055 shares of the medical research company’s stock worth $549,000 after purchasing an additional 70 shares during the period. Choreo LLC increased its stake in Quest Diagnostics by 4.5% in the first 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. Finally, Meridian Wealth Management LLC lifted its position in shares of Quest Diagnostics by 2.4% during the first 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 last quarter. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

DGX has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Quest Diagnostics from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Evercore ISI raised their target price on shares of Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 8th. Baird R W downgraded shares of Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Robert W. Baird reissued a “neutral” rating and issued a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. Finally, Barclays lifted their target price on Quest Diagnostics from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.31.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 28,288 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total value of $5,293,250.56. Following the sale, the senior vice president directly owned 38,117 shares in the company, valued at approximately $7,132,453.04. This trade represents a 42.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director owned 29,431 shares of the company’s stock, valued at approximately $5,368,214.40. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,118 shares of company stock worth $7,127,684 over the last quarter. Insiders own 8.16% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $192.41 on Wednesday. The firm has a market cap of $21.40 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.31 and a beta of 0.58. The company’s 50 day moving average is $183.90 and its 200 day moving average is $178.80. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 52-week low of $148.70 and a 52-week high of $197.55.

Quest Diagnostics (NYSE:DGX) last posted its 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. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the business earned $2.30 earnings per share. Quest Diagnostics’s revenue was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. On average, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Tuesday, January 13th will be given a dividend of $0.80 per share. 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 presently 37.56%.

About Quest Diagnostics

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.