Nuance Investments LLC Invests $5.82 Million in Quest Diagnostics Incorporated $DGX

Nuance Investments LLC purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,470 shares of the medical research company’s stock, valued at approximately $5,822,000. Quest Diagnostics comprises 1.0% of Nuance Investments LLC’s holdings, making the stock its 28th biggest holding.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC acquired a new stake in shares of Quest Diagnostics in the 4th quarter valued at $323,000. Cresset Asset Management LLC raised its holdings in Quest Diagnostics by 4.6% in the second quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company’s stock worth $719,000 after purchasing an additional 176 shares during the period. Gabelli Funds LLC acquired a new stake in Quest Diagnostics during the 2nd quarter worth $287,000. Bank of Nova Scotia lifted its holdings in shares of Quest Diagnostics by 7.2% during the 2nd quarter. Bank of Nova Scotia now owns 14,339 shares of the medical research company’s stock valued at $2,576,000 after purchasing an additional 962 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Quest Diagnostics by 17.1% during the second quarter. Daiwa Securities Group Inc. now owns 18,599 shares of the medical research company’s stock worth $3,341,000 after acquiring an additional 2,718 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $235.20 on Tuesday. Quest Diagnostics Incorporated has a 12 month low of $171.18 and a 12 month high of $240.13. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.16 and a beta of 0.56. The business’s 50-day moving average price is $216.36 and its 200-day moving average price is $203.68.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, July 23rd. The medical research company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.30. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Quest Diagnostics had a net margin of 9.18% and a return on equity of 16.01%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.62 EPS. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Equities research analysts forecast that Quest Diagnostics Incorporated will post 11.15 EPS for the current year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $3.44 annualized dividend and a yield of 1.5%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 36.52%.

Insiders Place Their Bets

In related news, CEO J. E. Davis sold 10,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $194.14, for a total value of $1,941,400.00. Following the sale, the chief executive officer owned 132,423 shares in the company, valued at $25,708,601.22. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $200.00, for a total value of $1,629,400.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 19,747 shares of company stock worth $3,947,088. 0.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on DGX shares. Mizuho boosted their target price on Quest Diagnostics from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Robert W. Baird boosted their target price on Quest Diagnostics from $236.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Quest Diagnostics from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Jefferies Financial Group reissued a “buy” rating and issued a $245.00 target price on shares of Quest Diagnostics in a research report on Thursday, July 23rd. Finally, Barclays lifted their price objective on Quest Diagnostics from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Quest Diagnostics presently has an average rating of “Moderate Buy” and an average price target of $235.31.

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.