Quest Diagnostics Incorporated $DGX Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Quest Diagnostics Incorporated (NYSE:DGX) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,230 shares of the medical research company’s stock after purchasing an additional 300 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Quest Diagnostics were worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in DGX. Bruce G. Allen Investments LLC increased its stake in shares of Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. First Horizon Advisors Inc. increased its stake in shares of 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 purchasing an additional 82 shares during the period. Golden State Wealth Management LLC increased its stake in shares of 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 valued at $33,000 after purchasing an additional 118 shares during the period. NBC Securities Inc. acquired a new stake in shares of Quest Diagnostics in the first quarter valued at approximately $35,000. Finally, Continuum Advisory LLC increased its stake in shares of Quest Diagnostics by 11,100.0% in the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP Patrick Plewman sold 1,975 shares of the firm’s 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 in the company, valued at approximately $2,824,765. This trade represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Karthik Kuppusamy sold 2,210 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the transaction, the senior vice president directly owned 8,450 shares of the company’s stock, valued at $1,436,500. This represents a 20.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,496 shares of company stock valued at $4,278,787 over the last 90 days. 8.16% of the stock is currently owned by insiders.

Quest Diagnostics Trading Up 0.2%

Shares of NYSE:DGX opened at $183.69 on Monday. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.44 and a beta of 0.54. Quest Diagnostics Incorporated has a 1-year low of $146.17 and a 1-year high of $185.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. The company has a 50 day moving average price of $176.68 and a 200 day moving average price of $174.03.

Quest Diagnostics (NYSE:DGX) last issued its earnings results 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. The firm had revenue of $2.76 billion during 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%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm 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 dividend of $0.80 per share. 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 (DPR) is presently 38.32%.

Analyst Upgrades and Downgrades

DGX has been the subject of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Wall Street Zen cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Deutsche Bank Aktiengesellschaft increased 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. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.00.

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.