Quest Diagnostics Sees Unusually Large Options Volume (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGX) was the target of unusually large options trading on Friday. Stock traders bought 2,401 put options on the stock. This represents an increase of approximately 190% compared to the typical daily volume of 829 put options.

Analysts Set New Price Targets

A number of brokerages recently commented on DGX. Deutsche Bank Aktiengesellschaft raised their target price on Quest Diagnostics from $160.00 to $178.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Truist Financial lifted their price target on Quest Diagnostics from $190.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Evercore ISI set a $185.00 target price on Quest Diagnostics in a report on Wednesday, July 23rd. William Blair reiterated an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, Robert W. Baird reissued a “neutral” rating and set a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $186.00.

Quest Diagnostics Stock Up 0.2%

Shares of NYSE:DGX opened at $183.69 on Friday. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.44 and a beta of 0.54. Quest Diagnostics has a 1-year low of $146.17 and a 1-year high of $185.62. The company’s fifty day moving average is $176.68 and its two-hundred day moving average is $174.01. 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 (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping 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 quarter last year, the company earned $2.35 EPS. The company’s revenue for the quarter 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. Equities analysts anticipate that Quest Diagnostics will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

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

Insider Activity at Quest Diagnostics

In related news, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total value of $365,375.00. Following the completion of the transaction, the senior vice president directly owned 15,269 shares of the company’s stock, valued at approximately $2,824,765. This represents a 11.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 2,210 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total value of $375,700.00. Following the completion of the sale, the senior vice president directly owned 8,450 shares of the company’s stock, valued at $1,436,500. This trade represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,496 shares of company stock worth $4,278,787. Insiders own 8.16% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new position in shares of Quest Diagnostics during the 1st quarter valued at about $1,228,000. First Horizon Advisors Inc. boosted 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 purchasing an additional 82 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Quest Diagnostics by 9.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company’s stock valued at $3,047,000 after purchasing an additional 1,566 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Quest Diagnostics by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company’s stock valued at $1,198,000 after purchasing an additional 150 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Quest Diagnostics by 10.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company’s stock valued at $2,439,000 after purchasing an additional 1,348 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

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.