Quest Diagnostics Incorporated Plans Quarterly Dividend of $0.86 (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGX) declared a quarterly dividend on Tuesday, May 19th. Stockholders of record on Wednesday, July 8th will be given a dividend of 0.86 per share by the medical research company on Wednesday, July 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, July 8th.

Quest Diagnostics has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Quest Diagnostics has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Quest Diagnostics to earn $11.56 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 29.8%.

Quest Diagnostics Stock Performance

NYSE DGX opened at $190.18 on Wednesday. The business has a 50-day moving average price of $195.25 and a 200-day moving average price of $190.17. Quest Diagnostics has a twelve month low of $164.65 and a twelve month high of $213.50. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 2.26 and a beta of 0.60. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.67.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. Quest Diagnostics had a return on equity of 15.60% and a net margin of 9.07%.The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. As a group, equities research analysts predict that Quest Diagnostics will post 10.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Patrick Plewman sold 2,855 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $588,729.55. Following the completion of the sale, the senior vice president owned 15,198 shares of the company’s stock, valued at $3,133,979.58. This trade represents a 15.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael E. Prevoznik sold 3,878 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $799,682.38. Following the completion of the sale, the senior vice president directly owned 37,557 shares of the company’s stock, valued at $7,744,628.97. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,421 shares of company stock worth $3,790,214 over the last quarter. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its stake in Quest Diagnostics by 3.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,387 shares of the medical research company’s stock worth $241,000 after acquiring an additional 50 shares during the last quarter. HB Wealth Management LLC raised its stake in Quest Diagnostics by 0.5% in the 4th quarter. HB Wealth Management LLC now owns 11,292 shares of the medical research company’s stock worth $1,960,000 after acquiring an additional 58 shares during the last quarter. Independent Advisor Alliance raised its stake in Quest Diagnostics by 1.4% in the 3rd quarter. Independent Advisor Alliance now owns 4,232 shares of the medical research company’s stock worth $807,000 after acquiring an additional 59 shares during the last quarter. Ossiam raised its stake in 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 acquiring an additional 61 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in Quest Diagnostics by 1.7% in the 4th quarter. Fulton Bank N.A. now owns 4,180 shares of the medical research company’s stock worth $725,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.