Bahl & Gaynor Inc. Sells 64,335 Shares of Quest Diagnostics Incorporated $DGX

Bahl & Gaynor Inc. lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 22.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 216,704 shares of the medical research company’s stock after selling 64,335 shares during the period. Bahl & Gaynor Inc.’s holdings in Quest Diagnostics were worth $41,299,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DGX. Perigon Wealth Management LLC lifted its holdings in Quest Diagnostics by 4.5% during the third quarter. Perigon Wealth Management LLC now owns 1,275 shares of the medical research company’s stock worth $243,000 after buying an additional 55 shares during the period. Independent Advisor Alliance raised its position in shares of Quest Diagnostics by 1.4% in the 3rd 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 in the last quarter. True North Advisors LLC raised its position in shares of Quest Diagnostics by 4.1% in the 3rd quarter. True North Advisors LLC now owns 1,554 shares of the medical research company’s stock worth $296,000 after acquiring an additional 61 shares in the last quarter. OLD Second National Bank of Aurora lifted its stake in shares of Quest Diagnostics by 14.9% during the 3rd quarter. OLD Second National Bank of Aurora now owns 517 shares of the medical research company’s stock worth $99,000 after purchasing an additional 67 shares during the last quarter. Finally, World Investment Advisors boosted its position in Quest Diagnostics by 2.7% during the second quarter. World Investment Advisors now owns 2,623 shares of the medical research company’s stock valued at $471,000 after purchasing an additional 68 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $211.75 on Monday. The business has a fifty day moving average of $188.64 and a 200 day moving average of $184.89. Quest Diagnostics Incorporated has a 1 year low of $157.20 and a 1 year high of $213.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.04 and a quick ratio of 0.96. The firm has a market capitalization of $23.26 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, February 10th. The medical research company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.07. Quest Diagnostics had a return on equity of 15.57% and a net margin of 8.99%.The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $2.23 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Quest Diagnostics has set its FY 2026 guidance at 9.45-9.650 EPS. As a group, research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Monday, April 6th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $3.44 dividend on an annualized basis and a yield of 1.6%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.80. Quest Diagnostics’s payout ratio is 36.57%.

Quest Diagnostics declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 4.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

DGX has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Jefferies Financial Group lifted their price objective on shares of Quest Diagnostics from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Robert W. Baird set a $219.00 target price on shares of Quest Diagnostics in a research report on Wednesday, February 11th. Truist Financial lifted their price target on shares of Quest Diagnostics from $205.00 to $220.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Finally, Mizuho increased their price objective on Quest Diagnostics from $210.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $210.29.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 1,433 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $204.83, for a total value of $293,521.39. Following the sale, the executive vice president directly owned 68,402 shares of the company’s stock, valued at approximately $14,010,781.66. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 1,111 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $204.83, for a total value of $227,566.13. Following the sale, the senior vice president directly owned 38,371 shares in the company, valued at $7,859,531.93. This represents a 2.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,164 shares of company stock worth $1,872,363. Company insiders own 8.16% of the company’s stock.

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.