Mediolanum International Funds Ltd Purchases New Stake in Quest Diagnostics Incorporated $DGX

Mediolanum International Funds Ltd purchased a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 39,243 shares of the medical research company’s stock, valued at approximately $6,979,000.

A number of other hedge funds have also recently modified their holdings of DGX. World Investment Advisors raised its position in Quest Diagnostics by 2.7% during the 2nd quarter. World Investment Advisors now owns 2,623 shares of the medical research company’s stock valued at $471,000 after purchasing an additional 68 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Quest Diagnostics by 0.6% during the second quarter. Harbor Capital Advisors Inc. now owns 10,789 shares of the medical research company’s stock valued at $1,938,000 after buying an additional 69 shares during the period. Personal CFO Solutions LLC raised its holdings in shares of Quest Diagnostics by 2.3% during the second quarter. Personal CFO Solutions LLC now owns 3,055 shares of the medical research company’s stock valued at $549,000 after acquiring an additional 70 shares in the last quarter. Choreo LLC raised its holdings in shares of Quest Diagnostics by 4.5% during the first quarter. Choreo LLC now owns 1,662 shares of the medical research company’s stock valued at $281,000 after acquiring an additional 72 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its stake in Quest Diagnostics by 2.4% in the first quarter. Meridian Wealth Management LLC now owns 3,353 shares of the medical research company’s stock worth $567,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $191.10 on Friday. The company has a market capitalization of $21.26 billion, a price-to-earnings ratio of 22.43, 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 quick ratio of 1.04 and a current ratio of 1.13. Quest Diagnostics Incorporated has a one year low of $148.70 and a one year high of $197.55. The company’s 50-day moving average is $183.46 and its 200 day moving average is $178.56.

Quest Diagnostics (NYSE:DGX) last issued 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 net margin of 8.91% and a return on equity of 15.47%. The business had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the company earned $2.30 earnings per share. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 13th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.56%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DGX shares. Morgan Stanley set a $207.00 price objective on shares of Quest Diagnostics and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Baird R W downgraded shares of Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Truist Financial raised their price objective on shares of Quest Diagnostics from $195.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Robert W. Baird reiterated a “neutral” rating and set a $194.00 target price on shares of Quest Diagnostics in a report on Monday, August 25th. Finally, Leerink Partners increased their target price on Quest Diagnostics from $203.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and an average price target of $196.31.

Insider Buying and Selling at Quest Diagnostics

In related news, Director Gary M. Pfeiffer sold 1,482 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $182.40, for a total transaction of $270,316.80. Following the sale, the director directly owned 29,431 shares of the company’s stock, valued at $5,368,214.40. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 227 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $188.13, for a total value of $42,705.51. Following the completion of the transaction, the senior vice president directly owned 38,117 shares of the company’s stock, valued at approximately $7,170,951.21. This trade 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 38,118 shares of company stock worth $7,127,684. Insiders own 8.16% of the company’s stock.

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.