Short Interest in Quest Diagnostics Incorporated (NYSE:DGX) Expands By 38.4%

Quest Diagnostics Incorporated (NYSE:DGX) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 5,848,033 shares, an increase of 38.4% from the December 15th total of 4,225,484 shares. Based on an average trading volume of 873,850 shares, the days-to-cover ratio is currently 6.7 days. Approximately 5.7% of the shares of the company are short sold. Approximately 5.7% of the shares of the company are short sold. Based on an average trading volume of 873,850 shares, the days-to-cover ratio is currently 6.7 days.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded down $0.99 during mid-day trading on Friday, hitting $189.27. 1,132,513 shares of the company traded hands, compared to its average volume of 766,695. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 1.13. Quest Diagnostics has a one year low of $150.14 and a one year high of $197.55. The stock has a market cap of $21.05 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.64. The stock has a fifty day moving average price of $181.90 and a 200-day moving average price of $179.82.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, October 21st. The medical research company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.09. Quest Diagnostics had a net margin of 8.91% and a return on equity of 15.47%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the company posted $2.30 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. On average, equities analysts predict that Quest Diagnostics will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 13th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, January 13th. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics’s payout ratio is 37.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Quest Diagnostics in a research report on Monday, December 29th. Piper Sandler increased their price objective on Quest Diagnostics from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Leerink Partners raised their target price on Quest Diagnostics from $203.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. UBS Group upped their price target on Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Finally, Mizuho increased their price target on shares of Quest Diagnostics from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $197.27.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 7,946 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $187.35, for a total transaction of $1,488,683.10. Following the completion of the transaction, the senior vice president owned 7,530 shares in the company, valued at $1,410,745.50. This trade represents a 51.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary M. Pfeiffer sold 1,482 shares of Quest Diagnostics stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $182.40, for a total transaction of $270,316.80. Following the completion of the transaction, the director owned 29,431 shares of the company’s stock, valued at $5,368,214.40. The trade was a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 65,771 shares of company stock worth $12,588,676. Insiders own 8.16% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Large investors have recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its stake in Quest Diagnostics by 114.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 150 shares of the medical research company’s stock worth $26,000 after buying an additional 80 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Quest Diagnostics by 126.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock worth $27,000 after acquiring an additional 85 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Quest Diagnostics by 369.7% in the 3rd quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 122 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Quest Diagnostics by 113.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 156 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 83 shares in the last quarter. Finally, MTM Investment Management LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter valued at $29,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

About Quest Diagnostics

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.