Camden National Bank Takes $220,000 Position in Quest Diagnostics Incorporated $DGX

Camden National Bank acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,223 shares of the medical research company’s stock, valued at approximately $220,000.

Several other institutional investors have also recently bought and sold shares of DGX. Vanguard Group Inc. lifted its position in shares of Quest Diagnostics by 2.1% in the second quarter. Vanguard Group Inc. now owns 14,233,576 shares of the medical research company’s stock worth $2,556,777,000 after purchasing an additional 296,860 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Quest Diagnostics by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company’s stock worth $1,012,534,000 after purchasing an additional 493,960 shares in the last quarter. Boston Partners boosted its holdings in shares of Quest Diagnostics by 32.2% in the 2nd quarter. Boston Partners now owns 3,035,153 shares of the medical research company’s stock valued at $544,475,000 after buying an additional 739,407 shares during the last quarter. Geode Capital Management LLC increased its holdings in Quest Diagnostics by 7.5% during the second quarter. Geode Capital Management LLC now owns 2,982,415 shares of the medical research company’s stock worth $533,563,000 after buying an additional 208,261 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Quest Diagnostics by 7.7% during the first quarter. Alliancebernstein L.P. now owns 1,177,572 shares of the medical research company’s stock worth $199,245,000 after acquiring an additional 84,530 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $191.10 on Friday. The firm has a market cap of $21.26 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.31 and a beta of 0.58. The business’s 50 day moving average is $183.46 and its 200-day moving average is $178.58. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 1-year low of $148.70 and a 1-year high of $197.55.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.09. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.30 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. Equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 13th will be paid a $0.80 dividend. The ex-dividend date is Tuesday, January 13th. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics’s payout ratio is 37.56%.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 7,946 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total value of $1,488,683.10. Following the completion of the sale, the senior vice president directly owned 7,530 shares in the company, valued at approximately $1,410,745.50. The trade was a 51.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary M. Pfeiffer sold 1,482 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $182.40, for a total value of $270,316.80. Following the sale, the director directly owned 29,431 shares in the company, valued at $5,368,214.40. This represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,118 shares of company stock valued at $7,127,684 in the last quarter. Company insiders own 8.16% of the company’s stock.

Wall Street Analyst Weigh In

DGX has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Jefferies Financial Group boosted their price target on Quest Diagnostics from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Quest Diagnostics in a research report on Wednesday, October 8th. UBS Group lifted their target price on Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Truist Financial boosted their target price on Quest Diagnostics from $195.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $196.31.

Quest Diagnostics 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.