Mirae Asset Global Investments Co. Ltd. Has $2.77 Million Stock Position in Quest Diagnostics Incorporated $DGX

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,407 shares of the medical research company’s stock after purchasing an additional 830 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Quest Diagnostics were worth $2,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DGX. Brighton Jones LLC purchased a new position in Quest Diagnostics during the 4th quarter worth approximately $323,000. NBC Securities Inc. acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at about $35,000. Merit Financial Group LLC increased its holdings in shares of Quest Diagnostics by 45.2% in the 1st quarter. Merit Financial Group LLC now owns 3,561 shares of the medical research company’s stock valued at $603,000 after purchasing an additional 1,109 shares during the period. Wedmont Private Capital increased its holdings in shares of Quest Diagnostics by 17.8% in the 1st quarter. Wedmont Private Capital now owns 2,525 shares of the medical research company’s stock valued at $414,000 after purchasing an additional 381 shares during the period. Finally, OLD National Bancorp IN acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at about $223,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DGX shares. Robert W. Baird reiterated a “neutral” rating and issued a $194.00 target price on shares of Quest Diagnostics in a report on Monday, August 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Quest Diagnostics in a report on Saturday, September 27th. Baird R W lowered Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. UBS Group cut their price objective on Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Finally, Wall Street Zen lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $186.31.

Quest Diagnostics Stock Performance

DGX opened at $181.95 on Wednesday. The company has a market cap of $20.35 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.37 and a beta of 0.56. The stock has a 50-day moving average of $180.42 and a 200-day moving average of $175.22. Quest Diagnostics Incorporated has a 52-week low of $146.53 and a 52-week high of $191.49. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The firm’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is 38.32%.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 8,269 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the completion of the sale, the senior vice president owned 10,660 shares in the company, valued at $1,784,484. This represents a 43.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael E. Prevoznik sold 28,288 shares of the stock in a transaction that occurred on 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 owned 38,117 shares of the company’s stock, valued at approximately $7,132,453.04. The trade was a 42.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,186 shares of company stock worth $9,647,471 in the last quarter. 8.16% of the stock is currently owned by company insiders.

Quest Diagnostics Company Profile

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.