Quest Diagnostics Incorporated $DGX Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in Quest Diagnostics Incorporated (NYSE:DGX) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,218 shares of the medical research company’s stock after buying an additional 128 shares during the period. Concurrent Investment Advisors LLC’s holdings in Quest Diagnostics were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sivik Global Healthcare LLC acquired a new position in Quest Diagnostics in the second quarter valued at approximately $4,491,000. Aberdeen Group plc raised its position in Quest Diagnostics by 17.1% in the second quarter. Aberdeen Group plc now owns 104,307 shares of the medical research company’s stock valued at $18,737,000 after purchasing an additional 15,223 shares during the period. Blue Trust Inc. lifted its stake in shares of Quest Diagnostics by 7.7% in the 2nd quarter. Blue Trust Inc. now owns 1,812 shares of the medical research company’s stock valued at $325,000 after purchasing an additional 129 shares during the last quarter. Callan Family Office LLC purchased a new position in shares of Quest Diagnostics during the 2nd quarter worth $619,000. Finally, Blair William & Co. IL grew its holdings in shares of Quest Diagnostics by 73.3% during the 2nd quarter. Blair William & Co. IL now owns 91,209 shares of the medical research company’s stock worth $16,384,000 after purchasing an additional 38,588 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 2,210 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total value of $375,700.00. Following the completion of the transaction, the senior vice president owned 8,450 shares in the company, valued at $1,436,500. The trade was a 20.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $188.13, for a total transaction of $42,705.51. Following the transaction, the senior vice president owned 38,117 shares of the company’s stock, valued at $7,170,951.21. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,186 shares of company stock valued at $9,647,471 over the last 90 days. 8.16% of the stock is owned by corporate insiders.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $189.71 on Friday. Quest Diagnostics Incorporated has a 52 week low of $146.91 and a 52 week high of $191.49. The company has a fifty day simple moving average of $182.44 and a two-hundred day simple moving average of $176.18. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The company has a market cap of $21.21 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.51 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX) last released its earnings results 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 return on equity of 15.24% and a net margin of 9.01%.The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business posted $2.35 earnings per share. Quest Diagnostics’s revenue 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. As a group, equities analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid 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 Friday, October 3rd. Quest Diagnostics’s dividend payout ratio is presently 38.32%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DGX shares. Truist Financial set a $195.00 price objective on shares of Quest Diagnostics in a report on Tuesday. UBS Group upped their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday. Robert W. Baird reiterated a “neutral” rating and issued a $194.00 target price on shares of Quest Diagnostics in a report on Monday, August 25th. Evercore ISI upped their price target on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $189.06.

Quest Diagnostics 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.