Corient Private Wealth LP Sells 5,233 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• Corient Private Wealth reduced its Quest Diagnostics position by 13.3%, selling 5,233 shares and retaining 34,092 shares valued at approximately $7.2 million. Institutional investors collectively own 88.06% of the company.
• Quest Diagnostics reported quarterly EPS of $3.12, beating estimates by $0.30, while revenue rose 10.2% year over year to $3.04 billion. The company guided to fiscal 2026 EPS of $11.05–$11.25.
• The company declared a quarterly dividend of $0.86 per share, equivalent to an annualized $3.44 payout and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $236.31.

Corient Private Wealth LP decreased its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,092 shares of the medical research company's stock after selling 5,233 shares during the period. Corient Private Wealth LP's holdings in Quest Diagnostics were worth $7,226,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Amundi grew its holdings in shares of Quest Diagnostics by 22.1% in the second quarter. Amundi now owns 498,751 shares of the medical research company's stock valued at $105,710,000 after acquiring an additional 90,421 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Quest Diagnostics by 12.8% during the second quarter. HighTower Advisors LLC now owns 67,692 shares of the medical research company's stock worth $14,347,000 after acquiring an additional 7,678 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Quest Diagnostics in the second quarter worth $16,747,000. Vancity Investment Management Ltd grew its stake in Quest Diagnostics by 90.9% in the 2nd quarter. Vancity Investment Management Ltd now owns 2,548 shares of the medical research company's stock valued at $540,000 after purchasing an additional 1,213 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Quest Diagnostics in the 2nd quarter valued at $45,000. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Up 0.2%

Shares of NYSE DGX opened at $247.49 on Friday. Quest Diagnostics Incorporated has a 52 week low of $171.18 and a 52 week high of $248.70. The business has a 50-day simple moving average of $232.48 and a two-hundred day simple moving average of $210.38. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.72. The company has a market cap of $27.32 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.26 and a beta of 0.55.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The medical research company reported $3.12 EPS for the quarter, beating the consensus estimate of $2.82 by $0.30. Quest Diagnostics had a net margin of 9.18% and a return on equity of 16.01%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the firm earned $2.62 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Research analysts anticipate that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Tuesday, October 6th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, October 6th. Quest Diagnostics's dividend payout ratio (DPR) is 36.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Mizuho lifted their target price on Quest Diagnostics from $235.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Jefferies Financial Group restated a "buy" rating and set a $245.00 price target on shares of Quest Diagnostics in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of Quest Diagnostics from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, August 12th. Argus set a $260.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, July 29th. Finally, Barclays boosted their target price on shares of Quest Diagnostics from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $236.31.

Insider Transactions at Quest Diagnostics

In related news, CEO J. E. Davis sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $242.72, for a total value of $2,427,200.00. Following the sale, the chief executive officer directly owned 122,423 shares of the company's stock, valued at $29,714,510.56. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael E. Prevoznik sold 22,677 shares of Quest Diagnostics stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $243.11, for a total transaction of $5,513,005.47. Following the sale, the senior vice president owned 37,557 shares of the company's stock, valued at approximately $9,130,482.27. The trade was a 37.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 34,277 shares of company stock valued at $8,316,493. 0.88% of the stock is owned by corporate insiders.

Quest Diagnostics Profile

Quest Diagnostics Incorporated NYSE: DGX is a provider of diagnostic information services. The company performs laboratory testing used to help diagnose, monitor and manage diseases and other health conditions, serving physicians, hospitals, health plans, employers, government agencies and individual consumers.

Its services include routine blood and urine testing, advanced and esoteric diagnostics, molecular and genetic testing, anatomic pathology, cancer testing, drug screening and wellness-related assessments.

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.