Forsta AP Fonden Decreases Holdings in Quest Diagnostics Incorporated $DGX

Forsta AP Fonden trimmed its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 17.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,000 shares of the medical research company’s stock after selling 4,300 shares during the period. Forsta AP Fonden’s holdings in Quest Diagnostics were worth $3,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Paradiem LLC purchased a new stake in Quest Diagnostics during the 4th quarter worth $13,652,000. Union Bancaire Privee UBP SA purchased a new position in Quest Diagnostics in the 4th quarter valued at about $1,517,000. Cibc World Market Inc. boosted its position in Quest Diagnostics by 209.6% in the 3rd quarter. Cibc World Market Inc. now owns 7,765 shares of the medical research company’s stock valued at $1,480,000 after buying an additional 5,257 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Quest Diagnostics by 346.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,949 shares of the medical research company’s stock valued at $4,329,000 after buying an additional 19,361 shares during the last quarter. Finally, Nuance Investments LLC purchased a new position in Quest Diagnostics in the 3rd quarter valued at about $5,757,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DGX. Jefferies Financial Group reissued a “buy” rating and issued a $225.00 price objective on shares of Quest Diagnostics in a research report on Tuesday, April 21st. Barclays upped their price objective on shares of Quest Diagnostics from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Mizuho upped their price objective on shares of Quest Diagnostics from $210.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Robert W. Baird upped their price objective on shares of Quest Diagnostics from $224.00 to $229.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Finally, UBS Group upped their price objective on shares of Quest Diagnostics from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $216.58.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 3,878 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $206.21, for a total transaction of $799,682.38. Following the sale, the senior vice president owned 37,557 shares in the company, valued at $7,744,628.97. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J. E. Davis sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the sale, the chief executive officer owned 132,423 shares in the company, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their position. 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. Insiders have sold 22,291 shares of company stock worth $4,475,927 in the last ninety days. Insiders own 0.88% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock opened at $192.93 on Wednesday. The firm has a market cap of $21.36 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.29 and a beta of 0.59. The firm’s 50-day simple moving average is $194.42 and its 200-day simple moving average is $191.11. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.18. Quest Diagnostics Incorporated has a 1 year low of $164.65 and a 1 year high of $213.50.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 21st. The medical research company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.13. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. Quest Diagnostics’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Equities analysts forecast that Quest Diagnostics Incorporated will post 10.72 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a dividend of $0.86 per share. The ex-dividend date is Wednesday, July 8th. This represents a $3.44 annualized dividend and a yield of 1.8%. Quest Diagnostics’s dividend payout ratio is 38.01%.

Quest Diagnostics announced that its board has authorized a stock repurchase program on Tuesday, February 10th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy 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 shares are undervalued.

Quest Diagnostics Company 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.