Quest Diagnostics Incorporated $DGX Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 229,410 shares of the medical research company’s stock after acquiring an additional 5,038 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Quest Diagnostics worth $39,869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. HB Wealth Management LLC grew its holdings in Quest Diagnostics by 0.5% during the fourth quarter. HB Wealth Management LLC now owns 11,292 shares of the medical research company’s stock worth $1,960,000 after acquiring an additional 58 shares during the period. Independent Advisor Alliance grew its holdings 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 worth $807,000 after acquiring an additional 59 shares during the period. Ossiam grew its holdings in Quest Diagnostics by 6.1% during the third quarter. Ossiam now owns 1,059 shares of the medical research company’s stock worth $202,000 after acquiring an additional 61 shares during the period. Fulton Bank N.A. grew its holdings in Quest Diagnostics by 1.7% during the fourth quarter. Fulton Bank N.A. now owns 4,180 shares of the medical research company’s stock worth $725,000 after acquiring an additional 68 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in Quest Diagnostics by 5.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,326 shares of the medical research company’s stock worth $230,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Quest Diagnostics stock opened at $187.43 on Friday. The firm has a market capitalization of $20.75 billion, a P/E ratio of 20.71, a PEG ratio of 2.27 and a beta of 0.60. The stock has a fifty day moving average price of $198.21 and a 200 day moving average price of $189.77. Quest Diagnostics Incorporated has a 52 week low of $164.65 and a 52 week high of $213.50. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.67.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.37 by $0.13. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. Quest Diagnostics had a return on equity of 15.60% and a net margin of 9.07%.The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 10.73 earnings per share for the current year.

Quest Diagnostics announced that its board has initiated a share repurchase plan on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 6th were paid a dividend of $0.86 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.80. This represents a $3.44 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, April 6th. Quest Diagnostics’s payout ratio is currently 38.01%.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 3,878 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $206.21, for a total transaction of $799,682.38. Following the completion of the sale, the senior vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Catherine T. Doherty sold 5,558 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $206.21, for a total value of $1,146,115.18. Following the sale, the executive vice president owned 67,122 shares of the company’s stock, valued at $13,841,227.62. This represents a 7.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,083 shares of company stock valued at $4,945,262. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group boosted their target price on Quest Diagnostics from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $225.00 target price on shares of Quest Diagnostics in a research report on Tuesday, April 21st. Evercore set a $225.00 target price on Quest Diagnostics in a research report on Tuesday, April 21st. Citigroup boosted their target price on Quest Diagnostics from $190.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Truist Financial boosted their target price on Quest Diagnostics from $220.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.58.

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.