Quest Diagnostics Incorporated $DGX Shares Sold by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management cut its Quest Diagnostics stake by 72.1% in the fourth quarter, selling 75,894 shares and leaving it with 29,322 shares valued at about $5.1 million.
• Quest Diagnostics reported strong quarterly results, posting $2.50 EPS versus $2.37 expected and revenue of $2.90 billion, up 9.2% year over year. The company also raised its FY2026 guidance to $10.63-$10.83 EPS.
• The company announced a quarterly dividend of $0.86 per share, payable July 22, implying an annualized yield of 1.6%. Meanwhile, shares were trading near $209.73, close to their 12-month high of $213.50.

Rockefeller Capital Management L.P. lessened its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 72.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,322 shares of the medical research company's stock after selling 75,894 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Quest Diagnostics were worth $5,088,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its stake in Quest Diagnostics by 3.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,387 shares of the medical research company's stock worth $241,000 after purchasing an additional 50 shares during the period. HB Wealth Management LLC increased its stake in Quest Diagnostics by 0.5% during the 4th quarter. HB Wealth Management LLC now owns 11,292 shares of the medical research company's stock worth $1,960,000 after buying an additional 58 shares during the period. Ossiam lifted its holdings in Quest Diagnostics by 6.1% during the 3rd quarter. Ossiam now owns 1,059 shares of the medical research company's stock worth $202,000 after buying an additional 61 shares in the last quarter. Independent Advisor Alliance boosted its position in Quest Diagnostics by 1.6% in the 4th quarter. Independent Advisor Alliance now owns 4,298 shares of the medical research company's stock valued at $746,000 after buying an additional 66 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Quest Diagnostics by 1.7% in the fourth quarter. Fulton Bank N.A. now owns 4,180 shares of the medical research company's stock worth $725,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Transactions at Quest Diagnostics

In related news, CEO J. E. Davis sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the transaction, the chief executive officer owned 132,423 shares in the company, valued at $25,708,601.22. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $200.00, for a total value of $1,629,400.00. Following the transaction, the senior vice president directly owned 13,510 shares in the company, valued at approximately $2,702,000. This trade represents a 37.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is owned by corporate insiders.

Quest Diagnostics Trading Up 1.7%

Shares of Quest Diagnostics stock opened at $209.73 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $195.83 and a 200-day simple moving average of $192.79. The stock has a market cap of $23.22 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.46 and a beta of 0.59. Quest Diagnostics Incorporated has a 12-month low of $164.65 and a 12-month high of $213.50.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.37 by $0.13. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business earned $1.94 EPS. Quest Diagnostics's revenue for the quarter was up 9.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 10.72 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a $0.86 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.6%. Quest Diagnostics's dividend payout ratio is 38.01%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Evercore set a $225.00 price objective on Quest Diagnostics in a research note on Tuesday, April 21st. Wall Street Zen raised Quest Diagnostics from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. Truist Financial upped their price target on Quest Diagnostics from $220.00 to $225.00 and gave the stock a "hold" rating in a report on Wednesday, April 22nd. Barclays increased their price target on Quest Diagnostics from $225.00 to $230.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Finally, Robert W. Baird lifted their price objective on Quest Diagnostics from $224.00 to $229.00 and gave the company a "neutral" rating in a research note on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.58.

Quest Diagnostics Company Profile

Quest Diagnostics NYSE: DGX is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.