Man Group takes new $495K stake in Quest Diagnostics as stock nears record high
What's the deal? Man Group plcDealroom has a profile for this one. Try Dealroom → opened a new position in Quest DiagnosticsDealroom has a profile for this one. Try Dealroom → during the second quarter, buying 2,336 shares worth roughly $495,000, according to its latest Form 13F filing with the Securities and Exchange Commission. Quest Diagnostics is a medical research and diagnostic testing company.
By the numbers: Quest opened at $236.75 on Friday, near its one-year high of $247.19 and well above its low of $171.18. It carries a market capitalisation of $26.13 billion and a price-to-earnings ratio of 25.13.
The earnings picture: Quest reported $3.12 earnings per share for the quarter ended July 23, beating the $2.82 consensus by $0.30. Revenue rose 10.2% year on year to $3.04 billion, ahead of the $2.97 billion estimate.
The company set full-year 2026 guidance of $11.05 to $11.25 EPS, roughly in line with analyst expectations of $11.15.
Who else is buying? Man Group joins a wave of institutional activity. Key Financial IncDealroom has a profile for this one. Try Dealroom → raised its stake by 1,728.6% in the first quarter, while Ancora AdvisorsDealroom has a profile for this one. Try Dealroom →, Quattro AdvisorsDealroom has a profile for this one. Try Dealroom →, Sittner & Nelson, and DV EquitiesDealroom has a profile for this one. Try Dealroom → each opened small new positions. Hedge funds and other institutional investors now own 88.06% of the company's stock.
What about the payout? Quest disclosed a quarterly dividend of $0.86 per share, payable on October 21 to investors of record on October 6. That works out to a $3.44 annualised dividend, a 1.5% yield, and a 36.52% payout ratio.
Analyst view: Sentiment is mixed but constructive. Argus set a $260 target, BarclaysDealroom has a profile for this one. Try Dealroom → lifted its objective to $250 with an "overweight" rating, and JefferiesDealroom has a profile for this one. Try Dealroom → reiterated a "buy" at $245. One analyst rates the stock strong buy, five buy, and seven hold.
The signal: A modest new position from a major fund alongside broad institutional buying points to steady confidence in defensive healthcare names. With earnings beats, rising revenue, and a stock near record levels, Quest is drawing interest even as analysts stay split on how much further it can run.
Read more: tickerreport.com
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