Schroder Investment Management Group Buys 122,646 Shares of Quest Diagnostics Incorporated $DGX

Schroder Investment Management Group grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 53.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,779 shares of the medical research company’s stock after buying an additional 122,646 shares during the quarter. Schroder Investment Management Group owned 0.32% of Quest Diagnostics worth $63,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. increased its position in Quest Diagnostics by 126.9% during the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 85 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of Quest Diagnostics in the 2nd quarter worth approximately $29,000. AlphaQuest LLC lifted its stake in shares of Quest Diagnostics by 18,400.0% in the 2nd quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock worth $33,000 after purchasing an additional 184 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Quest Diagnostics in the second quarter worth approximately $35,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Quest Diagnostics by 1,495.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 335 shares of the medical research company’s stock valued at $57,000 after buying an additional 314 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Quest Diagnostics

In related news, CEO J. E. Davis sold 55,093 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total transaction of $10,589,976.46. Following the completion of the transaction, the chief executive officer owned 120,480 shares in the company, valued at approximately $23,158,665.60. This represents a 31.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 7,946 shares of Quest Diagnostics stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $187.35, for a total transaction of $1,488,683.10. Following the completion of the sale, the senior vice president owned 7,530 shares in the company, valued at approximately $1,410,745.50. This represents a 51.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 94,461 shares of company stock valued at $17,957,361. 8.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Quest Diagnostics from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. UBS Group raised their target price on Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Robert W. Baird reissued a “neutral” rating and set a $194.00 price target 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 report on Wednesday, October 8th. Finally, Morgan Stanley set a $207.00 price objective on Quest Diagnostics and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $196.31.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $189.18 on Monday. The stock’s 50-day simple moving average is $184.28 and its 200-day simple moving average is $179.12. Quest Diagnostics Incorporated has a 52 week low of $148.70 and a 52 week high of $197.55. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 2.31 and a beta of 0.58. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71.

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. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $2.30 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. As a group, analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, January 13th. This represents a $3.20 annualized dividend and a dividend yield of 1.7%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.56%.

About Quest Diagnostics

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.