Quest Diagnostics Incorporated $DGX Shares Sold by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC has reduced its holdings in Quest Diagnostics by 38.4%, now owning 5,258 shares worth approximately $944,000.
• Insider selling activity includes SVP Michael E. Prevoznik selling 28,288 shares for over $5.2 million, reducing his stake by 42.6%.
• Analysts have mixed ratings on Quest Diagnostics, with price targets ranging from $175.00 to $194.00, and a consensus rating of "Moderate Buy."

Galvin Gaustad & Stein LLC lowered its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 38.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,258 shares of the medical research company's stock after selling 3,284 shares during the quarter. Galvin Gaustad & Stein LLC's holdings in Quest Diagnostics were worth $944,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DGX. Boston Partners acquired a new position in shares of Quest Diagnostics during the 1st quarter worth $388,724,000. Price T Rowe Associates Inc. MD increased its position in Quest Diagnostics by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company's stock worth $1,012,534,000 after purchasing an additional 493,960 shares in the last quarter. Nuveen LLC purchased a new stake in Quest Diagnostics in the 1st quarter valued at about $55,587,000. Coho Partners Ltd. purchased a new stake in Quest Diagnostics in the 1st quarter valued at about $30,839,000. Finally, Cookson Peirce & Co. Inc. purchased a new stake in Quest Diagnostics in the 1st quarter valued at about $29,213,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 28,288 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 38,117 shares in the company, valued at $7,132,453.04. This represents a 42.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick Plewman sold 5,535 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the transaction, the senior vice president directly owned 19,219 shares in the company, valued at approximately $3,363,325. The trade was a 22.36% 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 worth $9,647,471 in the last 90 days. 8.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. UBS Group lowered their price target on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Quest Diagnostics from $160.00 to $178.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Baird R W cut Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $194.00 target price on shares of Quest Diagnostics in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $186.63.

Quest Diagnostics Stock Up 0.3%

NYSE DGX opened at $181.35 on Friday. The stock has a market cap of $20.28 billion, a PE ratio of 21.72, a P/E/G ratio of 2.40 and a beta of 0.56. Quest Diagnostics Incorporated has a fifty-two week low of $146.91 and a fifty-two week high of $191.49. The business has a 50 day moving average price of $180.94 and a two-hundred day moving average price of $175.36. 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 (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.05. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.Quest Diagnostics's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date 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.

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.