Quest Diagnostics Incorporated (NYSE:DGX) Announces Quarterly Dividend of $0.80

Quest Diagnostics Incorporated (NYSE:DGX) declared a quarterly dividend on Tuesday, November 11th. Shareholders of record on Tuesday, January 13th will be paid a dividend of 0.80 per share by the medical research company on Wednesday, January 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, January 13th.

Quest Diagnostics has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 14 years. Quest Diagnostics has a payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Quest Diagnostics to earn $10.49 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 30.5%.

Quest Diagnostics Stock Down 1.0%

Shares of NYSE DGX traded down $1.81 on Wednesday, hitting $187.04. The company had a trading volume of 1,076,548 shares, compared to its average volume of 1,104,328. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71. Quest Diagnostics has a 12-month low of $148.70 and a 12-month high of $197.55. The firm has a market capitalization of $20.81 billion, a P/E ratio of 21.95, a PEG ratio of 2.31 and a beta of 0.58. The business has a 50 day moving average of $182.60 and a two-hundred day moving average of $178.04.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.51 by $0.09. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the company posted $2.30 EPS. Quest Diagnostics’s revenue for the quarter was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. As a group, equities research analysts forecast that Quest Diagnostics will post 9.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, Director Gary M. Pfeiffer sold 1,482 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $182.40, for a total value of $270,316.80. Following the transaction, the director owned 29,431 shares of the company’s stock, valued at $5,368,214.40. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael E. Prevoznik sold 227 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $188.13, for a total value of $42,705.51. Following the transaction, the senior vice president directly owned 38,117 shares of the company’s stock, valued at $7,170,951.21. This trade represents a 0.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,654 shares of company stock worth $7,189,232 over the last 90 days. Insiders own 8.16% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors and hedge funds have recently bought and sold shares of DGX. Insigneo Advisory Services LLC acquired a new position in Quest Diagnostics during the third quarter valued at $208,000. Great Lakes Retirement Inc. boosted its position in Quest Diagnostics by 17.2% during the 3rd quarter. Great Lakes Retirement Inc. now owns 9,030 shares of the medical research company’s stock worth $1,721,000 after acquiring an additional 1,323 shares during the period. Cresset Asset Management LLC grew its stake in Quest Diagnostics by 78.1% during the 3rd quarter. Cresset Asset Management LLC now owns 7,129 shares of the medical research company’s stock valued at $1,359,000 after acquiring an additional 3,126 shares in the last quarter. Level Four Advisory Services LLC increased its holdings in shares of Quest Diagnostics by 1.8% in the 3rd quarter. Level Four Advisory Services LLC now owns 34,735 shares of the medical research company’s stock valued at $6,620,000 after purchasing an additional 627 shares during the period. Finally, Elo Mutual Pension Insurance Co purchased a new stake in shares of Quest Diagnostics in the third quarter worth approximately $2,026,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Company 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.