Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Quest Diagnostics Incorporated $DGX

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 268,354 shares of the medical research company’s stock, valued at approximately $56,878,000.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Quest Diagnostics during the fourth quarter valued at approximately $229,522,000. Boston Partners lifted its holdings in shares of Quest Diagnostics by 32.8% in the 3rd quarter. Boston Partners now owns 4,036,881 shares of the medical research company’s stock worth $767,978,000 after acquiring an additional 997,033 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Quest Diagnostics by 95.5% in the 4th quarter. EdgePoint Investment Group Inc. now owns 1,661,072 shares of the medical research company’s stock worth $288,246,000 after acquiring an additional 811,320 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Quest Diagnostics in the 2nd quarter valued at $133,388,000. Finally, UBS Group AG boosted its stake in shares of Quest Diagnostics by 67.8% in the 4th quarter. UBS Group AG now owns 1,114,451 shares of the medical research company’s stock valued at $193,391,000 after purchasing an additional 450,161 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling

In related news, CEO J. E. Davis sold 10,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $194.14, for a total value of $1,941,400.00. Following the completion of the sale, the chief executive officer owned 132,423 shares of the company’s stock, valued at $25,708,601.22. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark E. Delaney sold 1,600 shares of Quest Diagnostics stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $235.18, for a total transaction of $376,288.00. Following the completion of the sale, the senior vice president owned 10,335 shares in the company, valued at approximately $2,430,585.30. This trade represents a 13.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,747 shares of company stock valued at $3,947,088 over the last quarter. 0.88% of the stock is owned by company insiders.

Quest Diagnostics Stock Up 2.3%

NYSE DGX opened at $241.78 on Thursday. Quest Diagnostics Incorporated has a 1 year low of $171.18 and a 1 year high of $242.39. The stock has a market capitalization of $26.69 billion, a PE ratio of 25.67, a PEG ratio of 2.18 and a beta of 0.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.59 and a quick ratio of 1.46. The business’s 50-day moving average is $217.76 and its 200 day moving average is $204.48.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, July 23rd. The medical research company reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.30. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the company posted $2.62 EPS. Quest Diagnostics’s quarterly revenue was up 10.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Sell-side analysts forecast that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, October 6th. Quest Diagnostics’s dividend payout ratio is currently 36.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Argus set a $260.00 target price on shares of Quest Diagnostics in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings raised Quest Diagnostics from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. Barclays lifted their price objective on Quest Diagnostics from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Quest Diagnostics from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.31.

About Quest Diagnostics

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.