MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in Quest Diagnostics Incorporated $DGX

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,221 shares of the medical research company’s stock after buying an additional 860 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Quest Diagnostics were worth $4,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in Quest Diagnostics in the 1st quarter valued at approximately $1,228,000. First Horizon Advisors Inc. boosted its position in Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock valued at $32,000 after buying an additional 82 shares during the period. Janney Montgomery Scott LLC boosted its position in Quest Diagnostics by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company’s stock valued at $3,047,000 after buying an additional 1,566 shares during the period. Brown Advisory Inc. boosted its position in Quest Diagnostics by 2.2% in the 1st quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company’s stock valued at $1,198,000 after buying an additional 150 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Quest Diagnostics by 10.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company’s stock valued at $2,439,000 after buying an additional 1,348 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total transaction of $375,700.00. Following the transaction, the senior vice president directly owned 8,450 shares of the company’s stock, valued at approximately $1,436,500. This trade represents a 20.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Patrick Plewman sold 1,975 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total transaction of $365,375.00. Following the transaction, the senior vice president directly owned 15,269 shares in the company, valued at $2,824,765. The trade was a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,496 shares of company stock worth $4,278,787 over the last quarter. 8.16% of the stock is owned by company insiders.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $183.66 on Friday. The company’s fifty day moving average price is $175.59 and its 200 day moving average price is $173.67. Quest Diagnostics Incorporated has a 12 month low of $146.17 and a 12 month high of $185.62. 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 firm has a market capitalization of $20.54 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.39 and a beta of 0.54.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business earned $2.35 EPS. Quest Diagnostics’s revenue for the quarter was up 15.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is currently 38.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Truist Financial raised their price objective on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Finally, UBS Group reduced their price objective 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and an average price target of $186.00.

Quest Diagnostics Profile

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.