On April 24, 2023, Nisa Investment Advisors LLC announced that it has reduced its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 5.4%. The move comes after the company’s recent announcement of a quarterly dividend to be paid on Monday, April 24.
Nisa Investment Advisors owns 24,480 shares of Quest Diagnostics, valued at $3,830,000 at the end of the most recent reporting period, according to the company’s Form 13F filed with the U.S. Securities and Exchange Commission (SEC). The company sold 1,391 of his shares in the quarter.
The news comes after Quest Diagnostics announced an increase to its quarterly dividend. The record shareholder on Monday, April 10 was paid a dividend of $0.71 per share, instead of his previous dividend of $0.66 per share. With this increase, investors holding the stock can expect his $2.84 annualized dividend and his 1.96% yield.
NYSE DGX shares opened at $145.18 on Monday and have oscillated between a low of $120.40 and a high of $158.34 over the past year. The company’s market cap is currently set at $16.24 billion, with a price/earnings ratio of 18.33 and a beta valuation of 0.95.
Quest Diagnostics Incorporated operates as one of today’s leading providers of medical research, providing advanced diagnostics to improve patient care outcomes worldwide through a wide range of diagnostic information services and solutions, including clinical laboratory services. I’m here. esoteric tests; anatomic pathology; and imaging services such as MRI and CT scans. Health insurance coverage options for large employers and physician practices.
Overall, it is clear that Quest Diagnostics has made significant progress in diagnosing Covid19 specifically, facilitating early stage detection and protecting people from the indiscriminate spread of the virus. This recent dividend increase, combined with a reduction in Nisa Investment Advisors LLC’s stake, will inevitably result in the company continuing to drive innovation and advancement in medical research.
Quest Diagnostics: A survey of medical research company status and recent investor activity
Quest Diagnostics: The State of Medical Research Firms
Institutional investors and other hedge funds recently made deals in Quest Diagnostics (NYSE:DGX), a medical research company that provides testing solutions for diagnosing diseases such as cancer, neurological disorders and infectious diseases. James Investment Research Inc. purchased shares worth approximately $29,000 in the fourth quarter of 2022. Meanwhile, Global Retirement Partners LLC increased its stake in Quest Diagnostics by approximately 155%, adding 133 shares to his $31,000 worth. In addition, Hallmark Capital Management Inc., Accurate Wealth Management LLC, and Guardian Wealth Advisors LLC each added new positions to Quest Diagnostics ranging from $31,000 to $37,000.
It is worth noting that institutional investors own approximately 88.79% of Quest Diagnostics shares. Recent trading activity has led many market observers to take a closer look at this medical research company.
At the same time, Senior Vice President Michael E. Prevoznik sold approximately 1,415 shares in a transaction of $200,109 or more on February 24, 2009. After the sale was completed, Prevoznik retained his 39,440 shares in Quest Diagnostic, valued at approximately $5.57 million.
On February 2nd of last year, Quest Diagnostics provided information on its earnings results for the first quarter of the year. Earnings of $1.98 per share exceeded expectations, compared to analyst estimates of $1.90 per share. Total revenue for the quarter he reached $2.33 billion.Total revenue would only reach a maximum of $2.26 billion against these analyst forecasts. It also earned about $3.33 per share during that period last year. Taking all these factors into account, the 2023 EPS value is about $8.71.
As part of its efforts to ensure a strong stock price and achieve a return on investment for its shareholders, Quest Diagnostics announced plans to begin a share repurchase program on February 2nd of last year. They approved allocating his $1 billion to the company to repurchase its shares on the open market. This represents approximately 6% of the total number of shares outstanding. Over time, investors will be interested in how this decision will affect their financials.
Quest Diagnostics’ financial strength is expected to be stronger as existing shareholders continue to trade while new stakeholders bring in new capital. How this dynamic player fares in the global medical research industry remains to be seen. You will only become more successful as you continue to adapt accordingly.