Quest Diagnostics Incorporated $DGX Shares Sold by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC has reduced its holdings in Quest Diagnostics by 13.4%, owning 68,730 shares valued at approximately $11.63 million as of the latest SEC filing.
• Barclays raised the target price of Quest Diagnostics from $175 to $185, while the stock currently holds a consensus rating of "Moderate Buy" with an average price target of $186.
• The company recently declared a quarterly dividend of $0.80, representing an annualized dividend of $3.20 and a yield of 1.8%, to be paid on October 20th.

Cambiar Investors LLC trimmed its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,730 shares of the medical research company's stock after selling 10,653 shares during the period. Cambiar Investors LLC owned 0.06% of Quest Diagnostics worth $11,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC grew 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 valued at $31,000 after acquiring an additional 67 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of 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 during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of 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 during the last quarter. NBC Securities Inc. acquired a new stake in shares of Quest Diagnostics during the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC boosted its stake in shares of Quest Diagnostics by 11,100.0% during 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 last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

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 4,532 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $183.00, for a total transaction of $829,356.00. Following the sale, the senior vice president directly owned 17,244 shares of the company's stock, valued at $3,155,652. The trade was a 20.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,521 shares of company stock worth $3,913,412 in the last quarter. Insiders own 8.16% of the company's stock.

Quest Diagnostics Trading Down 1.4%

Shares of DGX stock traded down $2.49 during trading hours on Friday, hitting $181.23. 340,901 shares of the company were exchanged, compared to its average volume of 1,161,451. The firm has a market cap of $20.27 billion, a PE ratio of 21.70, a PEG ratio of 2.45 and a beta of 0.46. Quest Diagnostics Incorporated has a 1 year low of $146.17 and a 1 year high of $185.62. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average of $175.09 and a 200 day moving average of $172.32.

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

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Quest Diagnostics's dividend payout ratio (DPR) is currently 38.32%.

Wall Street Analyst Weigh In

DGX has been the topic of several analyst reports. Evercore ISI set a $185.00 price target on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. UBS Group decreased their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft raised 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. Truist Financial raised their price target on shares of Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler increased their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.00.

Quest Diagnostics Company 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.