Parkman Healthcare Partners LLC Has $10.59 Million Stake in Quest Diagnostics Incorporated $DGX

Key Points

• Parkman Healthcare Partners LLC has reduced its holdings in Quest Diagnostics by 30.7%, selling 27,759 shares and now owning a total of 62,593 shares valued at approximately $10.59 million.
• Several other hedge funds have increased their investments in Quest Diagnostics, with notable increases including 157.3% by Golden State Wealth Management LLC and 11,100.0% by Continuum Advisory LLC.
• Quest Diagnostics is set to pay a quarterly dividend of $0.80 per share on October 20th, with a dividend yield of 1.7% and a payout ratio of 38.32%.

Parkman Healthcare Partners LLC reduced its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,593 shares of the medical research company's stock after selling 27,759 shares during the period. Quest Diagnostics accounts for approximately 1.3% of Parkman Healthcare Partners LLC's portfolio, making the stock its 29th biggest holding. Parkman Healthcare Partners LLC owned 0.06% of Quest Diagnostics worth $10,591,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC raised its stake in shares of 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 in the last quarter. First Horizon Advisors Inc. grew its stake in Quest Diagnostics by 76.6% in the 1st 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 during the last quarter. Golden State Wealth Management LLC raised its holdings in Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after acquiring an additional 118 shares during the period. NBC Securities Inc. acquired a new position in Quest Diagnostics during the 1st quarter worth $35,000. Finally, Continuum Advisory LLC boosted its holdings in Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after acquiring an additional 222 shares during the period. Institutional investors own 88.06% of the company's stock.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total value 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 represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total value of $365,375.00. Following the transaction, the senior vice president owned 15,269 shares of the company's stock, valued at $2,824,765. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,496 shares of company stock worth $4,278,787. 8.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on DGX shares. William Blair reissued an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price objective 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 report on Wednesday, July 23rd. Truist Financial boosted their price objective on shares of Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $186.00.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock traded down $2.37 during trading on Wednesday, hitting $180.31. 652,122 shares of the company's stock traded hands, compared to its average volume of 724,638. The company has a market cap of $20.16 billion, a PE ratio of 21.59, a PEG ratio of 2.42 and a beta of 0.54. The firm's fifty day moving average price is $175.49 and its 200 day moving average price is $173.60. Quest Diagnostics Incorporated has a twelve month low of $146.17 and a twelve month high of $185.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $2.76 billion during 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

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