Mackenzie Financial Corp Has $28.11 Million Holdings in Quest Diagnostics Incorporated $DGX

Mackenzie Financial Corp boosted its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 1,148.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,467 shares of the medical research company’s stock after acquiring an additional 143,935 shares during the quarter. Mackenzie Financial Corp owned 0.14% of Quest Diagnostics worth $28,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. G&S Capital LLC bought a new stake in Quest Diagnostics in the second quarter worth about $1,262,000. Fred Alger Management LLC grew its holdings in Quest Diagnostics by 9.9% during the first quarter. Fred Alger Management LLC now owns 19,378 shares of the medical research company’s stock valued at $3,279,000 after purchasing an additional 1,745 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in Quest Diagnostics in the first quarter worth $1,408,000. Martin Capital Partners LLC raised its stake in shares of Quest Diagnostics by 194.2% in the second quarter. Martin Capital Partners LLC now owns 5,107 shares of the medical research company’s stock valued at $917,000 after buying an additional 3,371 shares during the period. Finally, Game Plan Financial Advisors LLC purchased a new position in shares of Quest Diagnostics during the 1st quarter valued at $1,611,000. 88.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DGX shares. Barclays lifted their price objective on Quest Diagnostics from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Robert W. Baird reiterated a “neutral” rating and issued a $194.00 target price on shares of Quest Diagnostics in a research note on Monday, August 25th. Truist Financial boosted their price target on shares of Quest Diagnostics from $195.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Leerink Partners boosted their target price on shares of Quest Diagnostics from $203.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. One equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.31.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 28,288 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $187.12, for a total transaction of $5,293,250.56. Following the sale, the senior vice president owned 38,117 shares in the company, valued at $7,132,453.04. This trade represents a 42.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J. E. Davis sold 55,093 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $192.22, for a total value of $10,589,976.46. Following the completion of the transaction, the chief executive officer owned 120,480 shares of the company’s stock, valued at $23,158,665.60. The trade was a 31.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 94,461 shares of company stock valued at $17,957,361 over the last quarter. Insiders own 8.16% of the company’s stock.

Quest Diagnostics Stock Down 0.3%

DGX stock opened at $189.18 on Monday. The company’s 50 day moving average is $184.28 and its 200 day moving average is $179.12. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.31 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 1-year low of $148.70 and a 1-year high of $197.55.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 21st. The medical research company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.09. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a net margin of 8.91% and a return on equity of 15.47%. Quest Diagnostics’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. Sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Tuesday, January 13th will be given a $0.80 dividend. The ex-dividend date is Tuesday, January 13th. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics’s payout ratio is 37.56%.

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.