Washington Capital Management Inc. Sells 2,550 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• Washington Capital Management Inc. reduced its stake in Quest Diagnostics by 56.6%, selling 2,550 shares and bringing its holdings down to 1,955 shares worth $351,000.
• Quest Diagnostics has been subject to multiple analyst report changes, with ratings ranging from "Strong Buy" to "Hold," and an average target price set at $186.00.
• The company recently declared a quarterly dividend of $0.80 per share, representing an annualized yield of 1.7%.

Washington Capital Management Inc. lowered its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 56.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,955 shares of the medical research company's stock after selling 2,550 shares during the period. Washington Capital Management Inc.'s holdings in Quest Diagnostics were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. V Square Quantitative Management LLC lifted its holdings in Quest Diagnostics by 9.2% during the second quarter. V Square Quantitative Management LLC now owns 3,463 shares of the medical research company's stock worth $622,000 after buying an additional 291 shares during the period. Capital Insight Partners LLC purchased a new stake in Quest Diagnostics during the second quarter worth $359,000. Signaturefd LLC lifted its holdings in Quest Diagnostics by 7.1% during the second quarter. Signaturefd LLC now owns 1,774 shares of the medical research company's stock worth $319,000 after buying an additional 118 shares during the period. First American Bank purchased a new stake in Quest Diagnostics during the second quarter worth $568,000. Finally, Patton Fund Management Inc. purchased a new stake in Quest Diagnostics during the second quarter worth $228,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Analyst Ratings Changes

DGX has been the subject of a number of analyst reports. Wall Street Zen lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. UBS Group lowered their target price on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft upped their target price on Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Finally, Evercore ISI set a $185.00 price objective on Quest Diagnostics in a report on Wednesday, July 23rd. 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $186.00.

Quest Diagnostics Stock Performance

Shares of DGX opened at $189.19 on Monday. Quest Diagnostics Incorporated has a 12 month low of $146.17 and a 12 month high of $189.23. The stock has a fifty day moving average price of $178.61 and a 200-day moving average price of $174.60. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The firm has a market cap of $21.16 billion, a PE ratio of 22.66, a P/E/G ratio of 2.51 and a beta of 0.54.

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

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors 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 dividend on an annualized basis and a yield of 1.7%. Quest Diagnostics's dividend payout ratio (DPR) is 38.32%.

Insider Buying and Selling

In related news, SVP Patrick Plewman sold 5,535 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was 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 owned 19,219 shares in the company, valued at $3,363,325. This trade represents a 22.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Karthik Kuppusamy sold 8,269 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was 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 of the company's stock, valued at $1,784,484. This trade represents a 43.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,959 shares of company stock worth $9,604,766 in the last 90 days. Insiders own 8.16% of the company's stock.

Quest Diagnostics Company 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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