SGL Investment Advisors Inc. Raises Stock Holdings in Quest Diagnostics Incorporated $DGX

SGL Investment Advisors Inc. grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,529 shares of the medical research company’s stock after buying an additional 814 shares during the quarter. Quest Diagnostics accounts for 2.3% of SGL Investment Advisors Inc.’s investment portfolio, making the stock its 17th largest position. SGL Investment Advisors Inc.’s holdings in Quest Diagnostics were worth $4,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DGX. Boston Partners acquired a new stake in shares of Quest Diagnostics in the first quarter valued at about $388,724,000. Price T Rowe Associates Inc. MD raised its position in shares of Quest Diagnostics by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company’s stock worth $1,012,534,000 after purchasing an additional 493,960 shares during the last quarter. Nuveen LLC acquired a new stake in Quest Diagnostics in the 1st quarter worth about $55,587,000. Coho Partners Ltd. acquired a new position in shares of Quest Diagnostics during the first quarter valued at approximately $30,839,000. Finally, Cookson Peirce & Co. Inc. acquired a new stake in shares of Quest Diagnostics in the first quarter worth approximately $29,213,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 0.4%

Quest Diagnostics stock opened at $178.53 on Tuesday. The stock has a market cap of $19.96 billion, a PE ratio of 21.38, a P/E/G ratio of 2.38 and a beta of 0.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The stock’s fifty day moving average is $180.14 and its two-hundred day moving average is $175.17. Quest Diagnostics Incorporated has a 1-year low of $146.17 and a 1-year high of $191.49.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 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 business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the business posted $2.35 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics’s payout ratio is currently 38.32%.

Wall Street Analysts Forecast Growth

DGX has been the subject of several recent research reports. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. William Blair reissued an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. UBS Group reduced their target price on shares of Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Baird R W lowered Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.31.

Insider Activity

In related news, SVP Patrick Plewman sold 5,535 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the sale, the senior vice president directly owned 19,219 shares of the company’s stock, valued at $3,363,325. This represents a 22.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 28,288 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total value of $5,293,250.56. Following the completion of the sale, the senior vice president owned 38,117 shares of the company’s stock, valued at approximately $7,132,453.04. This represents a 42.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,186 shares of company stock worth $9,647,471. Corporate insiders own 8.16% of the company’s stock.

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.