ABN Amro Investment Solutions Takes $17.31 Million Position in Quest Diagnostics Incorporated $DGX

ABN Amro Investment Solutions purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 96,348 shares of the medical research company’s stock, valued at approximately $17,307,000. ABN Amro Investment Solutions owned about 0.09% of Quest Diagnostics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DGX. Pinnacle Bancorp Inc. lifted its stake in Quest Diagnostics by 126.9% in the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock valued at $27,000 after buying an additional 85 shares during the period. AlphaQuest LLC lifted its holdings in Quest Diagnostics by 18,400.0% during the second quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock worth $33,000 after acquiring an additional 184 shares during the period. Ameritas Advisory Services LLC bought a new position in Quest Diagnostics during the second quarter valued at about $35,000. Larson Financial Group LLC lifted its stake in Quest Diagnostics by 101.9% in the first quarter. Larson Financial Group LLC now owns 323 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 163 shares during the last quarter. Finally, Cheviot Value Management LLC bought a new position in shares of Quest Diagnostics during the 1st quarter worth $58,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Activity

In related news, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 15,269 shares of the company’s stock, valued at approximately $2,824,765. This trade represents a 11.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 227 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $188.13, for a total value of $42,705.51. Following the transaction, the senior vice president directly owned 38,117 shares in the company, valued at approximately $7,170,951.21. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 38,654 shares of company stock worth $7,189,232. 8.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on DGX. Jefferies Financial Group raised their price target on Quest Diagnostics from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Evercore ISI upped their price objective on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 8th. Truist Financial boosted their price objective on Quest Diagnostics from $195.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Mizuho boosted their price target on Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Wall Street Zen cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $196.31.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $187.04 on Thursday. The firm has a fifty day moving average price of $182.75 and a 200-day moving average price of $178.11. Quest Diagnostics Incorporated has a 1 year low of $148.70 and a 1 year high of $197.55. The stock has a market cap of $20.81 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.31 and a beta of 0.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.04.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 21st. The medical research company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.09. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the business posted $2.30 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. Equities 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 Wednesday, January 28th. Stockholders of record on Tuesday, January 13th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio is currently 37.56%.

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.