BI Asset Management Fondsmaeglerselskab A S Sells 1,708 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Quest Diagnostics by 31.9%, now holding 3,651 shares valued at $618,000 after selling 1,708 shares in the first quarter.
• Quest Diagnostics' stock declined by 2.0%, with a current price of $180.10, while the company reported a net margin of 9.01% and earnings per share of $2.62 in its last quarterly results.
• The firm declared a quarterly dividend of $0.80, payable on October 20th, representing an annualized yield of 1.8% and a payout ratio of 38.32%.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 31.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,651 shares of the medical research company's stock after selling 1,708 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Quest Diagnostics were worth $618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DGX. BankPlus Wealth Management LLC boosted its holdings in Quest Diagnostics by 2.5% during the first quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company's stock worth $408,000 after purchasing an additional 59 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Quest Diagnostics by 5.9% in the first quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company's stock worth $179,000 after purchasing an additional 59 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Quest Diagnostics by 0.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company's stock worth $1,948,000 after purchasing an additional 63 shares in the last quarter. Clarius Group LLC grew its stake in Quest Diagnostics by 4.8% during the first quarter. Clarius Group LLC now owns 1,421 shares of the medical research company's stock valued at $240,000 after acquiring an additional 65 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its stake in Quest Diagnostics by 1.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company's stock valued at $664,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Trading Up 1.4%

DGX traded up $2.48 during trading on Friday, hitting $181.68. 90,486 shares of the stock traded hands, compared to its average volume of 1,148,411. The firm has a market capitalization of $20.32 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.39 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The firm has a 50-day moving average of $175.04 and a 200 day moving average of $172.87. Quest Diagnostics Incorporated has a 12-month low of $146.17 and a 12-month high of $185.62.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. 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 prior year, the company posted $2.35 EPS. The firm's revenue for the quarter 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. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

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

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Patrick Plewman sold 5,535 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the transaction, the senior vice president directly owned 19,219 shares in the company, valued at approximately $3,363,325. This represents a 22.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 8,269 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the completion of the transaction, the senior vice president owned 10,660 shares of the company's stock, valued at $1,784,484. This trade represents a 43.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,496 shares of company stock valued at $4,278,787 over the last 90 days. Company insiders own 8.16% of the company's stock.

Wall Street Analyst Weigh In

DGX has been the subject of a number of research reports. UBS Group cut their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Robert W. Baird reissued a "neutral" rating and issued a $194.00 price target on shares of Quest Diagnostics in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $185.00 price target on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, Baird R W lowered shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $186.00.

About Quest Diagnostics

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.