Game Plan Financial Advisors LLC Cuts Position in Quest Diagnostics Incorporated $DGX

Key Points

• Game Plan Financial Advisors LLC has reduced its stake in Quest Diagnostics by 24.1%, owning 7,224 shares worth approximately $1.3 million at the end of the second quarter.
• Several institutional investors, including Pinnacle Bancorp Inc. and Golden State Wealth Management LLC, have significantly increased their positions in Quest Diagnostics during the same period.
• Quest Diagnostics reported a net income margin of 9.01% and a revenue of $2.76 billion for the last quarter, surpassing analysts' expectations.

Game Plan Financial Advisors LLC lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 24.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,224 shares of the medical research company's stock after selling 2,298 shares during the quarter. Game Plan Financial Advisors LLC's holdings in Quest Diagnostics were worth $1,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. grew its holdings in Quest Diagnostics by 126.9% in the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company's stock worth $27,000 after purchasing an additional 85 shares during the period. First Horizon Advisors Inc. grew its holdings in Quest Diagnostics by 76.6% in the first 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 lifted its stake in shares of Quest Diagnostics by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after buying an additional 118 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Quest Diagnostics in the first quarter worth approximately $35,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Quest Diagnostics in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Analysts Set New Price Targets

DGX has been the topic of several analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Quest Diagnostics in a research note on Wednesday. Robert W. Baird reiterated a "neutral" rating and issued a $194.00 target price on shares of Quest Diagnostics in a research note on Monday, August 25th. Truist Financial upped their target price 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. Evercore ISI upped their target price on shares of Quest Diagnostics from $185.00 to $190.00 and gave the stock an "in-line" rating in a research note on Wednesday. Finally, Barclays increased their price objective on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an "equal weight" rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $186.63.

Insider Transactions at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 2,210 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 8,450 shares in the company, valued at $1,436,500. This trade represents a 20.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Patrick Plewman sold 1,975 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total transaction of $365,375.00. Following the sale, the senior vice president owned 15,269 shares in the company, valued at $2,824,765. The trade was a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,186 shares of company stock valued at $9,647,471 over the last three months. Corporate insiders own 8.16% of the company's stock.

Quest Diagnostics Stock Down 0.6%

Shares of DGX stock opened at $180.85 on Thursday. Quest Diagnostics Incorporated has a 12 month low of $146.91 and a 12 month high of $191.49. The stock has a market cap of $20.22 billion, a P/E ratio of 21.66, a P/E/G ratio of 2.41 and a beta of 0.56. 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 company has a 50 day simple moving average of $180.66 and a two-hundred day simple moving average of $175.26.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $2.35 earnings per share. The firm'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, research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current 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 issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. Quest Diagnostics's dividend payout ratio is currently 38.32%.

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.

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