Quest Diagnostics Incorporated $DGX Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has reduced its stake in Quest Diagnostics by 5.3%, owning 229,709 shares after selling 12,798 shares during the first quarter.
• Quest Diagnostics recently declared a quarterly dividend of $0.80 per share, with a total annualized payout of $3.20 and a yield of 1.8%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Quest Diagnostics, with an average target price of $186.00, following various adjustments from firms like Piper Sandler and Truist Financial.

Hsbc Holdings PLC lowered its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,709 shares of the medical research company's stock after selling 12,798 shares during the period. Hsbc Holdings PLC owned approximately 0.21% of Quest Diagnostics worth $38,818,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bank OZK acquired a new stake in shares of Quest Diagnostics in the first quarter worth $2,069,000. Qtron Investments LLC acquired a new stake in shares of Quest Diagnostics in the first quarter worth $654,000. Brooklyn Investment Group increased its position in shares of Quest Diagnostics by 18.6% in the first quarter. Brooklyn Investment Group now owns 1,560 shares of the medical research company's stock worth $264,000 after acquiring an additional 245 shares in the last quarter. Versor Investments LP increased its position in shares of Quest Diagnostics by 68.5% in the first quarter. Versor Investments LP now owns 7,413 shares of the medical research company's stock worth $1,254,000 after acquiring an additional 3,013 shares in the last quarter. Finally, Valley Brook Capital Group Inc. acquired a new stake in shares of Quest Diagnostics in the first quarter worth $203,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Down 0.4%

DGX stock traded down $0.66 during mid-day trading on Wednesday, hitting $179.70. 271,015 shares of the company were exchanged, compared to its average volume of 1,156,582. The company has a market capitalization of $20.09 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 2.37 and a beta of 0.46. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a twelve month low of $146.17 and a twelve month high of $185.62. The firm has a fifty day simple moving average of $175.05 and a 200 day simple moving average of $172.72.

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 for the quarter, topping 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 company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business earned $2.35 EPS. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. Quest Diagnostics's payout ratio is 38.32%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DGX shares. UBS Group lowered their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Robert W. Baird reaffirmed a "neutral" rating and set a $194.00 price target on shares of Quest Diagnostics in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Truist Financial raised their price target on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $186.00.

Insider Activity

In other news, SVP Patrick Plewman sold 5,535 shares of Quest Diagnostics stock in a transaction dated 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 of the company's stock, valued at approximately $3,363,325. The trade was a 22.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Karthik Kuppusamy sold 8,269 shares of the business's stock in a transaction dated 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 transaction, the senior vice president directly owned 10,660 shares of the company's stock, valued at $1,784,484. The trade was a 43.68% decrease in their ownership of the stock. 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 over the last ninety days. Company insiders own 8.16% of the company's stock.

About Quest Diagnostics

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.