OMERS ADMINISTRATION Corp Acquires New Position in Quest Diagnostics Incorporated $DGX

OMERS ADMINISTRATION Corp bought a new position in Quest Diagnostics Incorporated (NYSE:DGX) in the second quarter, according to its most recent filing with the SEC. The firm bought 6,614 shares of the medical research company’s stock, valued at approximately $1,402,000.

Several other large investors also recently bought and sold shares of the stock. Osmosis Investment Management UK Ltd acquired a new position in Quest Diagnostics during the 2nd quarter valued at approximately $500,000. Sanctuary Advisors LLC acquired a new stake in shares of Quest Diagnostics during the second quarter worth $5,686,000. Jericho Financial LLP purchased a new stake in shares of Quest Diagnostics during the second quarter valued at $344,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Quest Diagnostics during the second quarter valued at $660,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at $624,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Activity at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 8,147 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the sale, the senior vice president owned 13,510 shares of the company’s stock, valued at $2,702,000. This trade represents a 37.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark E. Delaney sold 1,600 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $235.18, for a total transaction of $376,288.00. Following the transaction, the senior vice president directly owned 10,335 shares of the company’s stock, valued at approximately $2,430,585.30. This trade represents a 13.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 19,747 shares of company stock worth $3,947,088. 0.88% of the stock is owned by corporate insiders.

Quest Diagnostics Trading Up 0.1%

NYSE DGX opened at $244.78 on Thursday. Quest Diagnostics Incorporated has a 1 year low of $171.18 and a 1 year high of $246.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.59 and a quick ratio of 1.46. The company has a market capitalization of $27.02 billion, a PE ratio of 25.99, a P/E/G ratio of 2.25 and a beta of 0.56. The company has a fifty day moving average of $222.01 and a 200 day moving average of $206.46.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.30. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.97 billion. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $2.62 EPS. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Research analysts forecast that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, October 6th. Quest Diagnostics’s dividend payout ratio (DPR) is 36.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DGX. Mizuho lifted their price target on Quest Diagnostics from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on Quest Diagnostics from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Truist Financial lifted their target price on Quest Diagnostics from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Argus set a $260.00 target price on Quest Diagnostics in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.31.

About Quest Diagnostics

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.