Quest Diagnostics Incorporated $DGX Shares Sold by Pensionfund Sabic

Key Points

• Pensionfund Sabic has reduced its stake in Quest Diagnostics by 16.3%, now holding 7,700 shares valued at approximately $1.3 million.
• Several institutional investors have increased their positions in Quest Diagnostics, with Boston Partners purchasing a new stake valued at approximately $388 million during the first quarter.
• Quest Diagnostics reported quarterly earnings with $2.62 earnings per share, surpassing the consensus estimate, and has declared a quarterly dividend of $0.80 to be paid on October 20th.

Pensionfund Sabic trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,700 shares of the medical research company's stock after selling 1,500 shares during the period. Pensionfund Sabic's holdings in Quest Diagnostics were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in DGX. Bruce G. Allen Investments LLC grew its position in 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 purchasing an additional 67 shares during the period. First Horizon Advisors Inc. grew its position in 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 period. Golden State Wealth Management LLC grew its position in 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 period. NBC Securities Inc. acquired a new stake in Quest Diagnostics during the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC grew its position in 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 period. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DGX has been the topic of several analyst reports. Truist Financial increased their price target on Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Baird R W cut Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Robert W. Baird restated a "neutral" rating and set a $194.00 target price on shares of Quest Diagnostics in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $186.00.

Quest Diagnostics Price Performance

DGX traded down $2.20 during trading on Monday, reaching $180.71. The company's stock had a trading volume of 642,154 shares, compared to its average volume of 688,961. 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 simple moving average of $175.81 and a two-hundred day simple moving average of $173.79. Quest Diagnostics Incorporated has a 1 year low of $146.17 and a 1 year high of $185.62. The company has a market cap of $20.21 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.43 and a beta of 0.54.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results 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. The firm 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 business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

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 issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is 38.32%.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 2,210 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total value of $375,700.00. Following the completion of the sale, the senior vice president owned 8,450 shares in the company, valued at approximately $1,436,500. This trade represents a 20.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patrick Plewman sold 1,975 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $185.00, for a total transaction of $365,375.00. Following the completion of the transaction, the senior vice president owned 15,269 shares of the company's stock, valued at approximately $2,824,765. This trade represents a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,496 shares of company stock valued at $4,278,787 in the last quarter. 8.16% of the stock is owned by insiders.

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.