OLD National Bancorp IN Raises Position in Quest Diagnostics Incorporated $DGX

OLD National Bancorp IN grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 1,784.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,858 shares of the medical research company’s stock after acquiring an additional 23,539 shares during the period. OLD National Bancorp IN’s holdings in Quest Diagnostics were worth $4,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of DGX. Pinnacle Bancorp Inc. raised its position in Quest Diagnostics by 126.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 85 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock worth $31,000 after buying an additional 67 shares during the period. First Horizon Advisors Inc. raised its holdings in Quest Diagnostics by 76.6% in the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 82 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Quest Diagnostics by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company’s stock worth $33,000 after acquiring an additional 118 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in Quest Diagnostics during the 1st quarter worth approximately $35,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 8,269 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president owned 10,660 shares in the company, valued at $1,784,484. The trade was a 43.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 28,288 shares of the company’s 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 directly owned 38,117 shares of the company’s stock, valued at approximately $7,132,453.04. This represents a 42.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,186 shares of company stock valued at $9,647,471 over the last quarter. 8.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DGX shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Barclays lifted their price target on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group dropped their price objective on Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, Baird R W downgraded Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. One investment 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 company’s stock. Based on data from MarketBeat, Quest Diagnostics has a consensus rating of “Moderate Buy” and a consensus target price of $186.31.

Quest Diagnostics Stock Down 1.0%

Quest Diagnostics stock opened at $179.07 on Monday. The stock has a 50-day simple moving average of $179.92 and a 200-day simple moving average of $175.09. The company has a market capitalization of $20.02 billion, a P/E ratio of 21.45, a PEG ratio of 2.38 and a beta of 0.56. 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 Incorporated has a fifty-two week low of $146.17 and a fifty-two week high of $191.49.

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

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid 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 38.32%.

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.