Cresset Asset Management LLC Has $1.36 Million Holdings in Quest Diagnostics Incorporated $DGX

Cresset Asset Management LLC raised its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 78.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,129 shares of the medical research company’s stock after acquiring an additional 3,126 shares during the period. Cresset Asset Management LLC’s holdings in Quest Diagnostics were worth $1,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DGX. MTM Investment Management LLC acquired a new stake in Quest Diagnostics during the 2nd quarter worth approximately $29,000. True Wealth Design LLC grew its holdings in Quest Diagnostics by 369.7% in the 3rd quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock valued at $30,000 after buying an additional 122 shares in the last quarter. First Horizon Corp bought a new position in Quest Diagnostics during the 3rd quarter worth $33,000. Rexford Capital Inc. bought a new position in Quest Diagnostics during the 2nd quarter worth $36,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of Quest Diagnostics during the third quarter worth $38,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Ratings Changes

DGX has been the subject of a number of recent research reports. Evercore set a $220.00 target price on shares of Quest Diagnostics in a research report on Wednesday, February 11th. Barclays lifted their price objective on shares of Quest Diagnostics from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Mizuho increased their target price on shares of Quest Diagnostics from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Truist Financial raised their target price on shares of Quest Diagnostics from $205.00 to $220.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Saturday. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $210.29.

Quest Diagnostics Stock Up 1.2%

DGX stock opened at $201.68 on Tuesday. Quest Diagnostics Incorporated has a 52 week low of $157.20 and a 52 week high of $213.50. The business has a 50-day simple moving average of $192.19 and a 200 day simple moving average of $185.90. The company has a quick ratio of 0.96, a current ratio of 1.04 and a debt-to-equity ratio of 0.72. The company has a market cap of $22.16 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.57 and a beta of 0.65.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, February 10th. The medical research company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.75 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.57%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 9.45-9.650 EPS. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Monday, April 6th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, April 6th. Quest Diagnostics’s payout ratio is 36.57%.

Quest Diagnostics announced that its board has authorized a stock repurchase plan on Tuesday, February 10th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 3,878 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $799,682.38. Following the sale, the senior vice president owned 37,557 shares of the company’s stock, valued at approximately $7,744,628.97. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 2,628 shares of Quest Diagnostics stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $204.86, for a total value of $538,372.08. Following the completion of the transaction, the senior vice president owned 13,441 shares in the company, valued at approximately $2,753,523.26. The trade was a 16.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,083 shares of company stock valued at $4,945,262. 8.16% of the stock is owned by insiders.

Quest Diagnostics Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.