Russell Investments Group Ltd. Sells 7,423 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• Russell Investments Group Ltd. decreased its stake in Quest Diagnostics by 10.5%, owning 63,080 shares valued at approximately $10.7 million after selling 7,423 shares in the first quarter.
• Insider trading activity saw Patrick Plewman sell 5,535 shares, resulting in a 22.36% decrease in his ownership of the company's stock.
• Quest Diagnostics reported a 15.2% year-over-year increase in revenue, amounting to $2.76 billion, and has recently declared a quarterly dividend of $0.80 per share.

Russell Investments Group Ltd. decreased its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,080 shares of the medical research company's stock after selling 7,423 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Quest Diagnostics worth $10,655,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in DGX. Resona Asset Management Co. Ltd. increased its stake in Quest Diagnostics by 6.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 43,740 shares of the medical research company's stock valued at $7,390,000 after buying an additional 2,545 shares during the last quarter. HighTower Advisors LLC increased its stake in Quest Diagnostics by 1.9% in the 1st quarter. HighTower Advisors LLC now owns 28,936 shares of the medical research company's stock valued at $4,896,000 after buying an additional 526 shares during the last quarter. Trust Asset Management LLC purchased a new stake in Quest Diagnostics in the 1st quarter valued at about $217,000. Public Sector Pension Investment Board increased its stake in Quest Diagnostics by 6.9% in the 1st quarter. Public Sector Pension Investment Board now owns 15,122 shares of the medical research company's stock valued at $2,559,000 after buying an additional 978 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its stake in Quest Diagnostics by 12.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,845 shares of the medical research company's stock valued at $312,000 after buying an additional 201 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 8,269 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total value of $1,384,230.60. Following the completion of the transaction, the senior vice president directly owned 10,660 shares of the company's stock, valued at approximately $1,784,484. This trade represents a 43.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Patrick Plewman sold 5,535 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,521 shares of company stock valued at $3,913,412. 8.16% of the stock is owned by insiders.

Quest Diagnostics Stock Performance

DGX traded down $3.62 on Friday, hitting $180.10. The company's stock had a trading volume of 947,753 shares, compared to its average volume of 890,183. The company's 50 day simple moving average is $175.09 and its 200-day simple moving average is $172.56. The firm has a market cap of $20.14 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.39 and a beta of 0.46. Quest Diagnostics Incorporated has a 12 month low of $146.17 and a 12 month high of $185.62. 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 data on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. Quest Diagnostics's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the firm earned $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

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

Analyst Ratings Changes

DGX has been the subject of several analyst reports. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. UBS Group decreased their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Evercore ISI set a $185.00 price target on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, Piper Sandler raised their price target on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $186.00.

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.