Quest Diagnostics Incorporated (NYSE:DGX) Short Interest Update

Quest Diagnostics Incorporated (NYSE:DGX) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 3,872,414 shares, a decrease of 18.8% from the February 12th total of 4,771,280 shares. Based on an average trading volume of 845,183 shares, the short-interest ratio is currently 4.6 days. Currently, 3.8% of the shares of the stock are short sold. Currently, 3.8% of the shares of the stock are short sold. Based on an average trading volume of 845,183 shares, the short-interest ratio is currently 4.6 days.

Quest Diagnostics Stock Performance

Shares of NYSE DGX traded down $0.41 during trading on Tuesday, hitting $198.53. The company had a trading volume of 792,420 shares, compared to its average volume of 791,617. The stock has a 50 day simple moving average of $195.16 and a 200 day simple moving average of $186.74. The firm has a market capitalization of $21.81 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.57 and a beta of 0.66. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.96 and a current ratio of 1.04. Quest Diagnostics has a 12 month low of $157.20 and a 12 month high of $213.50.

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

Quest Diagnostics declared that its board has authorized a stock buyback program on Tuesday, February 10th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Monday, April 6th will be given a $0.86 dividend. The ex-dividend date is Monday, April 6th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.80. This represents a $3.44 annualized dividend and a dividend yield of 1.7%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.57%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Jefferies Financial Group boosted their target price on Quest Diagnostics from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Wall Street Zen downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday. Truist Financial upped their price target on shares of Quest Diagnostics from $205.00 to $220.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. UBS Group raised their price objective on Quest Diagnostics from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Finally, Evercore set a $220.00 target price on Quest Diagnostics in a report on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Quest Diagnostics has an average rating of “Moderate Buy” and an average price target of $210.29.

Insider Activity

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,628 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $204.86, for a total value of $538,372.08. Following the sale, the senior vice president owned 13,441 shares of the company’s stock, valued at approximately $2,753,523.26. This trade represents a 16.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 3,878 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $799,682.38. Following the transaction, the senior vice president directly owned 37,557 shares of the company’s stock, valued at $7,744,628.97. This trade represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 24,083 shares of company stock worth $4,945,262. Insiders own 8.16% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Several hedge funds have recently modified their holdings of DGX. Moneta Group Investment Advisors LLC lifted its stake in Quest Diagnostics by 3.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,387 shares of the medical research company’s stock worth $241,000 after purchasing an additional 50 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Quest Diagnostics by 4.5% in the third quarter. Perigon Wealth Management LLC now owns 1,275 shares of the medical research company’s stock worth $243,000 after purchasing an additional 55 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Quest Diagnostics by 0.5% in the fourth quarter. HB Wealth Management LLC now owns 11,292 shares of the medical research company’s stock worth $1,960,000 after buying an additional 58 shares in the last quarter. Independent Advisor Alliance boosted its stake in Quest Diagnostics by 1.4% during the third quarter. Independent Advisor Alliance now owns 4,232 shares of the medical research company’s stock valued at $807,000 after buying an additional 59 shares during the last quarter. Finally, True North Advisors LLC grew its holdings in Quest Diagnostics by 4.1% during the 3rd quarter. True North Advisors LLC now owns 1,554 shares of the medical research company’s stock valued at $296,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.