QRG Capital Management Inc. Buys 11,008 Shares of Quest Diagnostics Incorporated $DGX

QRG Capital Management Inc. increased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,657 shares of the medical research company’s stock after purchasing an additional 11,008 shares during the quarter. QRG Capital Management Inc. owned approximately 0.08% of Quest Diagnostics worth $15,566,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of Quest Diagnostics in the 4th quarter valued at $323,000. NBC Securities Inc. bought a new position in Quest Diagnostics in the first quarter valued at about $35,000. Merit Financial Group LLC boosted its stake in shares of Quest Diagnostics by 45.2% during the first 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 in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Quest Diagnostics by 91.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,969 shares of the medical research company’s stock worth $502,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Curat Global LLC acquired a new position in shares of Quest Diagnostics in the first quarter valued at approximately $102,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,269 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total value of $1,384,230.60. Following the completion of the sale, the senior vice president owned 10,660 shares of the company’s stock, valued at approximately $1,784,484. This trade represents a 43.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Patrick Plewman sold 5,535 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the sale, the senior vice president owned 19,219 shares of the company’s stock, valued at approximately $3,363,325. This represents a 22.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,186 shares of company stock valued at $9,647,471 in the last 90 days. 8.16% of the stock is currently owned by corporate insiders.

Quest Diagnostics Trading Down 1.0%

Shares of DGX stock opened at $179.07 on Friday. Quest Diagnostics Incorporated has a fifty-two week low of $146.17 and a fifty-two 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. The stock has a 50 day simple moving average of $179.92 and a two-hundred day simple moving average of $175.03. The company has a market cap of $20.02 billion, a P/E ratio of 21.45, a PEG ratio of 2.38 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 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 net margin of 9.01% and a return on equity of 15.24%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, October 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. Quest Diagnostics’s dividend payout ratio is currently 38.32%.

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Quest Diagnostics from $190.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $194.00 target price on shares of Quest Diagnostics in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Quest Diagnostics in a report on Saturday, September 27th. Finally, William Blair reissued an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $186.31.

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.