Parallel Advisors LLC Buys 100 Shares of Quest Diagnostics Incorporated $DGX

Parallel Advisors LLC raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,384 shares of the medical research company’s stock after acquiring an additional 100 shares during the quarter. Parallel Advisors LLC’s holdings in Quest Diagnostics were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DGX. Brighton Jones LLC bought a new position in shares of Quest Diagnostics in the fourth quarter worth about $323,000. Royal Bank of Canada raised its holdings in Quest Diagnostics by 23.1% in the 4th quarter. Royal Bank of Canada now owns 323,136 shares of the medical research company’s stock valued at $48,748,000 after buying an additional 60,617 shares during the last quarter. Snowden Capital Advisors LLC raised its holdings in Quest Diagnostics by 21.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 1,726 shares of the medical research company’s stock valued at $260,000 after buying an additional 307 shares during the last quarter. Vident Advisory LLC raised its holdings in Quest Diagnostics by 31.7% in the 4th quarter. Vident Advisory LLC now owns 2,423 shares of the medical research company’s stock valued at $366,000 after buying an additional 583 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Quest Diagnostics by 14.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,002,379 shares of the medical research company’s stock valued at $151,219,000 after buying an additional 128,285 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of DGX opened at $183.63 on Friday. Quest Diagnostics Incorporated has a 12-month low of $146.17 and a 12-month high of $185.62. The business’s fifty day moving average is $176.37 and its 200 day moving average is $173.94. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The stock has a market cap of $20.53 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.42 and a beta of 0.54.

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

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is currently 38.32%.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Patrick Plewman sold 5,535 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total transaction of $968,625.00. Following the transaction, the senior vice president directly owned 19,219 shares in the company, valued at approximately $3,363,325. This trade represents a 22.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karthik Kuppusamy sold 8,269 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were 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 approximately $1,784,484. This trade represents a 43.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,496 shares of company stock worth $4,278,787. 8.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on DGX shares. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Robert W. Baird reiterated a “neutral” rating and issued a $194.00 price objective on shares of Quest Diagnostics in a report on Monday, August 25th. William Blair reiterated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics currently has an average rating of “Moderate Buy” and a consensus price target of $186.00.

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.