Quest Diagnostics Incorporated $DGX Holdings Decreased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has reduced its holdings in Quest Diagnostics by 20.7%, now owning 46,620 shares worth approximately $7.89 million.
• Several large investors have adjusted their stakes in Quest, with Focus Partners Wealth increasing theirs by 147% during the same period.
• Quest Diagnostics declared a quarterly dividend of $0.80 per share, resulting in an annualized yield of 1.7%.

Intech Investment Management LLC decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,620 shares of the medical research company's stock after selling 12,167 shares during the period. Intech Investment Management LLC's holdings in Quest Diagnostics were worth $7,888,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DGX. Bruce G. Allen Investments LLC raised its position in shares of Quest Diagnostics by 57.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after acquiring an additional 67 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Quest Diagnostics by 76.6% in the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after buying an additional 82 shares in the last quarter. Golden State Wealth Management LLC boosted 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 valued at $33,000 after buying an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new position in Quest Diagnostics during the first quarter worth $35,000. Finally, Continuum Advisory LLC raised its holdings in shares of Quest Diagnostics by 11,100.0% in the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

DGX has been the subject of several analyst reports. Wall Street Zen downgraded Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Truist Financial increased their price target on Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Finally, Baird R W downgraded Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

Quest Diagnostics Trading Up 1.3%

Shares of NYSE:DGX traded up $2.35 during midday trading on Wednesday, hitting $182.51. 153,339 shares of the stock traded hands, compared to its average volume of 1,112,958. The stock has a market capitalization of $20.41 billion, a PE ratio of 21.86, a P/E/G ratio of 2.40 and a beta of 0.54. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a one year low of $146.17 and a one year high of $185.62. The business's 50 day moving average is $175.96 and its two-hundred day moving average is $173.83.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same period last year, the firm earned $2.35 EPS. The company'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. As a group, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's dividend payout ratio is 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.