Quest Diagnostics Incorporated $DGX Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its holdings in Quest Diagnostics by 62.7% in Q1, now holding 54,652 shares valued at approximately $9.25 million.
• Quest Diagnostics reported a 15.2% increase in revenue year-over-year, achieving $2.76 billion, with earnings per share of $2.62, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.80 per share, with a payout ratio of 38.32%, reflecting an annualized yield of 1.8%.

AQR Capital Management LLC trimmed its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 62.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,652 shares of the medical research company's stock after selling 91,935 shares during the period. AQR Capital Management LLC's holdings in Quest Diagnostics were worth $9,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DGX. Bruce G. Allen Investments LLC boosted its stake in Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after buying an additional 67 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Quest Diagnostics by 76.6% in 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 during the period. Golden State Wealth Management LLC raised its holdings in shares of Quest Diagnostics by 157.3% in 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 during the period. NBC Securities Inc. purchased a new position in shares of Quest Diagnostics in the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC raised its holdings in shares of Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after purchasing an additional 222 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Robert W. Baird restated a "neutral" rating and issued a $194.00 price objective on shares of Quest Diagnostics in a report on Monday, August 25th. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Evercore ISI set a $185.00 target price on Quest Diagnostics in a report on Wednesday, July 23rd. Baird R W downgraded Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, Wall Street Zen downgraded Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $186.00.

Quest Diagnostics Stock Down 0.3%

Shares of NYSE:DGX traded down $0.60 during mid-day trading on Friday, hitting $182.86. 454,078 shares of the company traded hands, compared to its average volume of 706,769. Quest Diagnostics Incorporated has a 52-week low of $146.17 and a 52-week high of $185.62. The firm's 50 day simple moving average is $175.67 and its 200 day simple moving average is $173.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. The firm has a market cap of $20.45 billion, a P/E ratio of 21.90, a PEG ratio of 2.43 and a beta of 0.54.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its 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 company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same period in the prior year, the business posted $2.35 EPS. The business's revenue was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Insider Buying and Selling

In other news, SVP Karthik Kuppusamy sold 2,210 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the sale, the senior vice president owned 8,450 shares of the company's stock, valued at approximately $1,436,500. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patrick Plewman sold 1,975 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total transaction of $365,375.00. Following the sale, the senior vice president directly owned 15,269 shares of the company's stock, valued at $2,824,765. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,496 shares of company stock valued at $4,278,787 in the last three months. 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.