34,789 Shares in Quest Diagnostics Incorporated $DGX Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,789 shares of the medical research company’s stock, valued at approximately $7,374,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth approximately $323,000. Cresset Asset Management LLC increased its stake in Quest Diagnostics by 4.6% in the 2nd quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company’s stock valued at $719,000 after buying an additional 176 shares during the period. Gabelli Funds LLC acquired a new position in Quest Diagnostics in the 2nd quarter valued at approximately $287,000. Bank of Nova Scotia lifted its position in Quest Diagnostics by 7.2% in the 2nd quarter. Bank of Nova Scotia now owns 14,339 shares of the medical research company’s stock worth $2,576,000 after buying an additional 962 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Quest Diagnostics by 17.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 18,599 shares of the medical research company’s stock worth $3,341,000 after buying an additional 2,718 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

NYSE DGX opened at $241.78 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $26.69 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.18 and a beta of 0.56. Quest Diagnostics Incorporated has a 12-month low of $171.18 and a 12-month high of $242.39. The company has a 50 day moving average price of $217.76 and a two-hundred day moving average price of $204.48.

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

Quest Diagnostics Announces Dividend

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

Insider Activity

In other news, SVP Mark E. Delaney sold 1,600 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $235.18, for a total value of $376,288.00. Following the transaction, the senior vice president owned 10,335 shares of the company’s stock, valued at $2,430,585.30. This trade represents a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the completion of the sale, the senior vice president owned 13,510 shares of the company’s stock, valued at $2,702,000. The trade was a 37.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 19,747 shares of company stock valued at $3,947,088. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

DGX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. UBS Group increased their price objective on Quest Diagnostics from $220.00 to $232.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Jefferies Financial Group reissued a “buy” rating and set a $245.00 price objective on shares of Quest Diagnostics in a research report on Thursday, July 23rd. 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. Finally, Mizuho upped their target price on Quest Diagnostics from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Quest Diagnostics currently has a consensus rating of “Moderate Buy” and an average price target of $235.31.

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.