Quest Diagnostics Incorporated $DGX Shares Sold by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Quest Diagnostics by 17.3%, selling 19,387 shares and now holds 92,743 shares worth approximately $16.66 million.
• Quest Diagnostics reported $2.76 billion in revenue for the latest quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 15.2%.
• The company announced a quarterly dividend of $0.80 per share, resulting in an annualized yield of 1.7%.

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 17.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,743 shares of the medical research company's stock after selling 19,387 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.08% of Quest Diagnostics worth $16,659,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Quest Diagnostics in the fourth quarter valued at approximately $323,000. GAMMA Investing LLC grew its position in Quest Diagnostics by 38.3% in the first quarter. GAMMA Investing LLC now owns 2,630 shares of the medical research company's stock valued at $445,000 after acquiring an additional 728 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Quest Diagnostics by 11.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,825 shares of the medical research company's stock valued at $5,215,000 after acquiring an additional 3,210 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Quest Diagnostics by 9.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock valued at $3,047,000 after acquiring an additional 1,566 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in Quest Diagnostics by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 13,006 shares of the medical research company's stock valued at $2,200,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

Shares of DGX opened at $189.71 on Friday. The business's fifty day moving average price is $182.44 and its 200 day moving average price is $176.18. Quest Diagnostics Incorporated has a 12-month low of $146.91 and a 12-month high of $191.49. The stock has a market capitalization of $21.21 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.51 and a beta of 0.56. 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 announced its quarterly earnings data 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. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. During the same period last year, the business posted $2.35 earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, October 3rd. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics's dividend payout ratio (DPR) is 38.32%.

Analyst Ratings Changes

Several analysts have issued reports on DGX shares. Mizuho increased their price objective on shares of Quest Diagnostics from $190.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on Quest Diagnostics from $160.00 to $178.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $194.00 target price on shares of Quest Diagnostics in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.06.

Insider Buying and Selling

In related news, SVP Patrick Plewman sold 5,535 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was 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 in the company, valued at $3,363,325. This trade represents a 22.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael E. Prevoznik sold 28,288 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $187.12, for a total value of $5,293,250.56. Following the transaction, the senior vice president owned 38,117 shares in the company, valued at $7,132,453.04. This trade represents a 42.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,186 shares of company stock worth $9,647,471 over the last ninety days. 8.16% of the stock is owned by insiders.

Quest Diagnostics Company 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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