Aberdeen Group plc Has $15.03 Million Stock Holdings in Quest Diagnostics Incorporated $DGX

Key Points

• Aberdeen Group plc has reduced its stake in Quest Diagnostics by 79.5%, now owning 89,084 shares valued at $15,034,000 after selling 345,097 shares in the first quarter.
• Other institutional investors, including Boston Partners and GAMMA Investing LLC, have recently increased their holdings, contributing to 88.06% of the company's stock being owned by hedge funds and institutional investors.
• Quest Diagnostics declared a quarterly dividend of $0.80 per share, with an annualized yield of 1.8%, set to be paid on October 20th to investors of record on October 3rd.

Aberdeen Group plc trimmed its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 79.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,084 shares of the medical research company's stock after selling 345,097 shares during the period. Aberdeen Group plc owned about 0.08% of Quest Diagnostics worth $15,034,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC raised its holdings in shares of Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock valued at $31,000 after acquiring an additional 67 shares during the period. First Horizon Advisors Inc. grew its position in Quest Diagnostics by 76.6% during the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares in the last quarter. Golden State Wealth Management LLC grew its position in Quest Diagnostics by 157.3% during the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after purchasing an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new stake in Quest Diagnostics during the 1st quarter valued at $35,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Quest Diagnostics by 11,100.0% in the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after purchasing an additional 222 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Down 2.0%

DGX stock traded down $3.62 during mid-day trading on Friday, hitting $180.10. The stock had a trading volume of 947,753 shares, compared to its average volume of 890,183. Quest Diagnostics Incorporated has a 1-year low of $146.17 and a 1-year high of $185.62. The company has a fifty day moving average of $175.09 and a 200 day moving average of $172.56. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.39 and a beta of 0.46.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same quarter in the previous year, the business posted $2.35 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $0.80 dividend. The ex-dividend date is Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Quest Diagnostics's payout ratio is 38.32%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Evercore ISI set a $185.00 price target on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Finally, UBS Group decreased their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total value of $375,700.00. Following the completion of the sale, the senior vice president directly owned 8,450 shares in the company, valued at $1,436,500. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick Plewman sold 4,532 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $183.00, for a total transaction of $829,356.00. Following the completion of the sale, the senior vice president owned 17,244 shares of the company's stock, valued at $3,155,652. This trade represents a 20.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,521 shares of company stock valued at $3,913,412 over the last quarter. Corporate insiders own 8.16% of the company's stock.

Quest Diagnostics 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.