Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its position in Quest Diagnostics Incorporated (NYSE:DGX) by 560.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,501 shares of the medical research company’s stock after purchasing an additional 11,456 shares during the quarter. Dark Forest Capital Management LP’s holdings in Quest Diagnostics were worth $1,848,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in shares of Quest Diagnostics during the 2nd quarter valued at approximately $26,000. Spartan Planning & Wealth Management acquired a new position in shares of Quest Diagnostics in the 4th quarter valued at $31,000. Larson Financial Group LLC grew its holdings 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 during the period. Innealta Capital LLC acquired a new stake in shares of Quest Diagnostics during the 2nd quarter worth about $31,000. Finally, TruNorth Capital Management LLC purchased a new stake in Quest Diagnostics in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 0.4 %

Shares of NYSE DGX opened at $152.49 on Thursday. The business has a 50-day moving average price of $150.96 and a 200 day moving average price of $141.54. The stock has a market cap of $16.98 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $159.36.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. Quest Diagnostics’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 EPS. Equities research analysts forecast that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Insider Activity at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the sale, the senior vice president now owns 5,019 shares in the company, valued at $718,118.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the sale, the senior vice president now owns 5,019 shares of the company’s stock, valued at $718,118.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DGX has been the subject of several research analyst reports. Evercore ISI initiated coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price for the company. Truist Financial lifted their target price on shares of Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a report on Monday, July 15th. Piper Sandler boosted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Barclays increased their target price on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 27th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $154.33.

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.