Quest Diagnostics Incorporated $DGX Shares Purchased by Mirae Asset Global Investments Co. Ltd.

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

Other hedge funds have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. increased its position in shares of Quest Diagnostics by 126.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock worth $27,000 after purchasing an additional 85 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Quest Diagnostics by 76.6% during the 1st 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 raised its position in shares of Quest Diagnostics by 157.3% during the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 118 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of Quest Diagnostics during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $181.95 on Wednesday. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 2.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The business has a 50 day simple moving average of $180.42 and a 200 day simple moving average of $175.22. Quest Diagnostics Incorporated has a 12-month low of $146.53 and a 12-month high of $191.49.

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

Quest Diagnostics Announces Dividend

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

Insider Transactions at Quest Diagnostics

In related news, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total transaction of $365,375.00. Following the completion of the sale, the senior vice president directly owned 15,269 shares of the company’s stock, valued at $2,824,765. This represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 227 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $188.13, for a total transaction of $42,705.51. Following the sale, the senior vice president directly owned 38,117 shares of the company’s stock, valued at approximately $7,170,951.21. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,186 shares of company stock valued at $9,647,471. Corporate insiders own 8.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DGX. Weiss Ratings reissued a “buy (b)” rating on shares of Quest Diagnostics in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Evercore ISI set a $185.00 target price on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Barclays raised their target price on shares of Quest Diagnostics from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Finally, Truist Financial boosted their price target on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.31.

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.