Rafferty Asset Management LLC Trims Stake in Quest Diagnostics Incorporated $DGX

Key Points

• Rafferty Asset Management LLC has reduced its stake in Quest Diagnostics by 18.8%, selling 2,380 shares and now holding 10,279 shares valued at approximately $1.74 million.
• Several large investors, including Caisse DE Depot ET Placement DU Quebec, significantly increased their stakes in Quest Diagnostics during the previous quarter, with Caisse increasing its position by a staggering 4,796% to own 86,022 shares.
• Quest Diagnostics recently reported quarterly earnings of $2.62 per share, exceeding analysts' expectations, and announced a dividend payment of $0.80 per share, yielding 1.8% annually.

Rafferty Asset Management LLC trimmed its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 18.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,279 shares of the medical research company's stock after selling 2,380 shares during the quarter. Rafferty Asset Management LLC's holdings in Quest Diagnostics were worth $1,739,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DGX. Bruce G. Allen Investments LLC raised its holdings in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after buying an additional 67 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after buying an additional 82 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Quest Diagnostics by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after acquiring an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Quest Diagnostics in the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its position in Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after acquiring an additional 222 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock traded up $0.26 on Thursday, reaching $179.77. 231,974 shares of the company traded hands, compared to its average volume of 1,143,824. The company has a 50 day moving average of $175.11 and a 200 day moving average of $173.23. 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 Incorporated has a 52 week low of $146.17 and a 52 week high of $185.62. The firm has a market capitalization of $20.10 billion, a PE ratio of 21.53, a PEG ratio of 2.41 and a beta of 0.54.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.Quest Diagnostics's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.80 per share. 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 is 38.32%.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 8,269 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the sale, the senior vice president owned 10,660 shares of the company's stock, valued at approximately $1,784,484. This represents a 43.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the senior vice president directly owned 19,219 shares of the company's stock, valued at $3,363,325. The trade was a 22.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,496 shares of company stock valued at $4,278,787 in the last quarter. Corporate insiders own 8.16% of the company's stock.

Analyst Ratings Changes

DGX has been the subject of several analyst reports. Truist Financial increased their price objective on Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. UBS Group decreased 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. Evercore ISI set a $185.00 price objective on Quest Diagnostics in a research note on Wednesday, July 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $194.00 price objective on shares of Quest Diagnostics in a report on Monday, August 25th. Finally, Baird R W downgraded shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.