Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Cambiar Investors LLC

02 Nov 2024, 11:56 by Michael Walen · The Markets Daily

Cambiar Investors LLC cut its position in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,579 shares of the medical research company’s stock after selling 4,770 shares during the quarter. Cambiar Investors LLC owned 0.08% of Quest Diagnostics worth $13,752,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in shares of Quest Diagnostics in the 2nd quarter worth about $26,000. Innealta Capital LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $31,000. Larson Financial Group LLC increased its stake in shares of Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Quest Diagnostics during the 2nd quarter worth approximately $33,000. Finally, EdgeRock Capital LLC acquired a new stake in Quest Diagnostics during the 2nd quarter valued at $35,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics Stock Performance

NYSE DGX opened at $155.29 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. Quest Diagnostics Incorporated has a 1-year low of $123.04 and a 1-year high of $160.95. The firm has a market capitalization of $17.33 billion, a P/E ratio of 20.87, a P/E/G ratio of 2.70 and a beta of 0.89. The business’s 50-day simple moving average is $153.45 and its 200-day simple moving average is $145.62.

Quest Diagnostics (NYSE:DGX – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the company posted $2.22 earnings per share. Quest Diagnostics’s revenue was up 8.5% compared to the same quarter last year. Equities analysts predict that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.00 annualized dividend and a yield of 1.93%. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

Analysts Set New Price Targets

DGX has been the subject of a number of analyst reports. Truist Financial boosted their price target on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Barclays upped their target price on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Piper Sandler boosted their price objective on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. UBS Group lifted their target price on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Baird R W raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.58.

Check Out Our Latest Research Report on DGX

About Quest Diagnostics

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