Connor Clark & Lunn Investment Management Ltd. Takes Position in Quest Diagnostics Incorporated $DGX

Connor Clark & Lunn Investment Management Ltd. bought a new position in Quest Diagnostics Incorporated (NYSE:DGX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 28,373 shares of the medical research company’s stock, valued at approximately $5,097,000.

A number of other large investors have also bought and sold shares of DGX. Pinnacle Bancorp Inc. boosted its stake in Quest Diagnostics by 126.9% in the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock worth $27,000 after purchasing an additional 85 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Quest Diagnostics by 18,400.0% in the second quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock valued at $33,000 after buying an additional 184 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Quest Diagnostics during the 2nd quarter worth about $35,000. Larson Financial Group LLC grew its holdings in Quest Diagnostics by 101.9% during the 1st quarter. Larson Financial Group LLC now owns 323 shares of the medical research company’s stock worth $55,000 after acquiring an additional 163 shares during the last quarter. Finally, Cheviot Value Management LLC acquired a new stake in Quest Diagnostics in the 1st quarter valued at about $58,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

DGX stock opened at $187.51 on Friday. Quest Diagnostics Incorporated has a twelve month low of $148.70 and a twelve month high of $197.55. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71. The company has a market cap of $20.86 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.31 and a beta of 0.58. The business’s fifty day moving average is $182.90 and its 200-day moving average is $178.17.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.09. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.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 firm earned $2.30 earnings per share. The firm’s quarterly revenue 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. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently declared 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DGX shares. Baird R W lowered shares of Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Barclays upped 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. William Blair reissued an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Morgan Stanley set a $207.00 target price on Quest Diagnostics and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Quest Diagnostics in a report on Wednesday, October 8th. One investment 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 company. Based on data from MarketBeat, Quest Diagnostics has a consensus rating of “Moderate Buy” and a consensus price target of $196.31.

Insider Buying and Selling

In other news, SVP Michael E. Prevoznik sold 28,288 shares of Quest Diagnostics stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total transaction of $5,293,250.56. Following the transaction, the senior vice president directly owned 38,117 shares of the company’s stock, valued at $7,132,453.04. This trade represents a 42.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary M. Pfeiffer sold 1,482 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $182.40, for a total transaction of $270,316.80. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,679 shares of company stock valued at $6,833,732 in the last 90 days. 8.16% of the stock is owned by insiders.

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.