Federated Hermes Inc. Boosts Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Federated Hermes Inc. grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 142.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,309 shares of the medical research company’s stock after acquiring an additional 768 shares during the quarter. Federated Hermes Inc.’s holdings in Quest Diagnostics were worth $179,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DGX. Gryphon Financial Partners LLC raised its stake in shares of Quest Diagnostics by 10.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,260 shares of the medical research company’s stock worth $314,000 after acquiring an additional 223 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Quest Diagnostics by 14.7% in the fourth quarter. Corient Private Wealth LLC now owns 41,413 shares of the medical research company’s stock worth $5,710,000 after purchasing an additional 5,308 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Quest Diagnostics in the fourth quarter worth approximately $1,473,000. Assetmark Inc. grew its holdings in shares of Quest Diagnostics by 13.7% in the fourth quarter. Assetmark Inc. now owns 5,788 shares of the medical research company’s stock worth $798,000 after purchasing an additional 699 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Quest Diagnostics by 0.8% in the fourth quarter. US Bancorp DE now owns 23,716 shares of the medical research company’s stock worth $3,270,000 after purchasing an additional 186 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quest Diagnostics

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

Quest Diagnostics Price Performance

DGX opened at $153.08 on Wednesday. The stock has a 50-day moving average price of $150.88 and a 200-day moving average price of $141.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The firm has a market cap of $17.01 billion, a PE ratio of 20.60, a P/E/G ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $159.36.

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

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DGX. Evercore ISI began coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price on the stock. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. Truist Financial lifted their price target 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. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler lifted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.