Assenagon Asset Management S.A. Acquires 984 Shares of Quest Diagnostics Incorporated $DGX

Assenagon Asset Management S.A. raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,836 shares of the medical research company’s stock after acquiring an additional 984 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Quest Diagnostics were worth $3,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in Quest Diagnostics in the 1st quarter worth about $1,228,000. First Horizon Advisors Inc. lifted its holdings 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 worth $32,000 after buying an additional 82 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Quest Diagnostics by 9.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company’s stock valued at $3,047,000 after acquiring an additional 1,566 shares during the period. Brown Advisory Inc. grew its stake in Quest Diagnostics by 2.2% during the first quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company’s stock valued at $1,198,000 after acquiring an additional 150 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 worth $2,439,000 after acquiring an additional 1,348 shares during the period. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Stock Down 0.2%

Shares of NYSE DGX opened at $186.59 on Thursday. The stock has a market capitalization of $20.86 billion, a P/E ratio of 22.35, a PEG ratio of 2.48 and a beta of 0.54. Quest Diagnostics Incorporated has a one year low of $146.17 and a one year high of $187.96. The firm’s 50 day simple moving average is $177.82 and its two-hundred day simple moving average is $174.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the prior year, the company earned $2.35 EPS. The firm’s revenue was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

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

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of Quest Diagnostics stock in a transaction that occurred 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 transaction, the senior vice president directly owned 8,450 shares of the company’s stock, valued at $1,436,500. The trade was a 20.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patrick Plewman sold 1,975 shares of the business’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 value of $365,375.00. Following the completion of the sale, the senior vice president owned 15,269 shares of the company’s stock, valued at $2,824,765. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,496 shares of company stock valued at $4,278,787. 8.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DGX has been the subject of several analyst reports. Wall Street Zen downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Baird R W lowered Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Truist Financial lifted their price target on Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $194.00 target price on shares of Quest Diagnostics in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.00.

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.