SVB Wealth LLC Has $6.60 Million Stock Holdings in Quest Diagnostics Incorporated $DGX

Key Points

• SVB Wealth LLC reduced its stake in Quest Diagnostics by 43.1%, now holding 39,015 shares valued at approximately $6.60 million as of the latest SEC filing.
• Institutional investors currently own 88.06% of Quest Diagnostics' stock, indicating strong interest from large financial entities.
• Analysts have mixed ratings for Quest Diagnostics, with a consensus target price of $186.00 and several recent upgrades and downgrades from major financial institutions.

SVB Wealth LLC trimmed its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 43.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,015 shares of the medical research company's stock after selling 29,560 shares during the quarter. SVB Wealth LLC's holdings in Quest Diagnostics were worth $6,601,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in shares of Quest Diagnostics by 14.8% in the first quarter. Smartleaf Asset Management LLC now owns 852 shares of the medical research company's stock valued at $143,000 after buying an additional 110 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Quest Diagnostics by 15.9% in the first quarter. Bahl & Gaynor Inc. now owns 314,857 shares of the medical research company's stock valued at $53,274,000 after buying an additional 43,299 shares in the last quarter. Allstate Corp lifted its stake in shares of Quest Diagnostics by 110.0% in the first quarter. Allstate Corp now owns 7,130 shares of the medical research company's stock valued at $1,206,000 after buying an additional 3,735 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Quest Diagnostics by 0.6% in the first quarter. Ameriprise Financial Inc. now owns 961,154 shares of the medical research company's stock valued at $162,628,000 after buying an additional 6,079 shares in the last quarter. Finally, Norinchukin Bank The lifted its stake in shares of Quest Diagnostics by 15.2% in the first quarter. Norinchukin Bank The now owns 5,715 shares of the medical research company's stock valued at $967,000 after buying an additional 753 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DGX shares. Piper Sandler raised their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. raised their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. UBS Group dropped their price target on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Finally, Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

Quest Diagnostics Stock Down 2.0%

DGX opened at $180.10 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The company's 50-day moving average is $175.09 and its 200 day moving average is $172.44. Quest Diagnostics Incorporated has a fifty-two week low of $146.17 and a fifty-two week high of $185.62. The firm has a market capitalization of $20.14 billion, a P/E ratio of 21.57, a PEG ratio of 2.44 and a beta of 0.46.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced 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 business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

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

Insider Activity

In other news, SVP Karthik Kuppusamy sold 8,269 shares of Quest Diagnostics stock in a transaction dated 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 owned 10,660 shares in the company, valued at $1,784,484. This trade represents a 43.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patrick Plewman sold 5,535 shares of Quest Diagnostics stock in a transaction dated Wednesday, August 6th. The stock was 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 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 22,521 shares of company stock valued at $3,913,412 in the last quarter. Corporate insiders own 8.16% of the company's stock.

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.

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