Davis Selected Advisers Purchases 7,192 Shares of Quest Diagnostics Incorporated $DGX

Davis Selected Advisers increased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,361,612 shares of the medical research company’s stock after purchasing an additional 7,192 shares during the quarter. Quest Diagnostics makes up 1.4% of Davis Selected Advisers’ portfolio, making the stock its 21st biggest position. Davis Selected Advisers’ holdings in Quest Diagnostics were worth $259,496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in Quest Diagnostics by 369.7% in the third quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock valued at $30,000 after buying an additional 122 shares during the period. First Horizon Corp bought a new position in Quest Diagnostics in the third quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in Quest Diagnostics during the 3rd quarter worth $33,000. Rexford Capital Inc. acquired a new stake in Quest Diagnostics during the 2nd quarter worth $36,000. Finally, Wellington Shields Capital Management LLC bought a new stake in shares of Quest Diagnostics during the 3rd quarter valued at $38,000. 88.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Michael E. Prevoznik sold 3,878 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total transaction of $799,682.38. Following the completion of the sale, the senior vice president directly owned 37,557 shares of the company’s stock, valued at approximately $7,744,628.97. This represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 2,628 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $204.86, for a total transaction of $538,372.08. Following the sale, the senior vice president owned 13,441 shares in the company, valued at $2,753,523.26. This trade represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 24,083 shares of company stock worth $4,945,262. 8.16% of the stock is owned by company insiders.

Quest Diagnostics Trading Down 1.6%

Shares of NYSE DGX opened at $195.53 on Thursday. Quest Diagnostics Incorporated has a twelve month low of $157.20 and a twelve month high of $213.50. The stock has a market cap of $21.48 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.56 and a beta of 0.66. The company has a quick ratio of 0.96, a current ratio of 1.04 and a debt-to-equity ratio of 0.72. The company’s fifty day moving average is $195.51 and its 200-day moving average is $186.80.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, February 10th. The medical research company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.57%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.23 EPS. Quest Diagnostics has set its FY 2026 guidance at 9.45-9.650 EPS. Equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics announced that its Board of Directors has approved a share repurchase program on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 4.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Monday, April 6th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.8%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, April 6th. Quest Diagnostics’s dividend payout ratio is currently 36.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quest Diagnostics in a report on Monday, December 29th. Jefferies Financial Group increased their target price on Quest Diagnostics from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Barclays raised their target price on Quest Diagnostics from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Finally, Mizuho boosted their target price on Quest Diagnostics from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.29.

Quest Diagnostics Profile

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.