Wealth Enhancement Advisory Services LLC Sells 17,246 Shares of Quest Diagnostics Incorporated $DGX

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Quest Diagnostics by 55.9% during the second quarter, now holding 13,579 shares valued at approximately $2.4 million after selling 17,246 shares.
• Several hedge funds, including Mn Services and Baader Bank, have adjusted their holdings in Quest Diagnostics, with institutional investors now owning 88.06% of the company's stock.
• Quest Diagnostics has recently announced a quarterly dividend of $0.80, which will be paid on October 20th, indicating a 1.7% dividend yield based on its current stock price.

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 55.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,579 shares of the medical research company's stock after selling 17,246 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Quest Diagnostics were worth $2,402,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DGX. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Quest Diagnostics by 1.2% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 41,345 shares of the medical research company's stock worth $7,427,000 after purchasing an additional 500 shares during the period. Wedmont Private Capital grew its position in shares of Quest Diagnostics by 3.1% in the second quarter. Wedmont Private Capital now owns 2,603 shares of the medical research company's stock valued at $452,000 after purchasing an additional 78 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Quest Diagnostics by 54.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 2,223 shares of the medical research company's stock worth $399,000 after purchasing an additional 783 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Quest Diagnostics by 2.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,230 shares of the medical research company's stock worth $2,377,000 after buying an additional 300 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Quest Diagnostics by 0.6% in the second quarter. Harbor Capital Advisors Inc. now owns 10,789 shares of the medical research company's stock valued at $1,938,000 after buying an additional 69 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Patrick Plewman sold 5,535 shares of the 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 transaction, the senior vice president directly owned 19,219 shares in the company, valued at $3,363,325. This represents a 22.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael E. Prevoznik sold 28,288 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total transaction of $5,293,250.56. Following the transaction, the senior vice president owned 38,117 shares of the company's stock, valued at approximately $7,132,453.04. This trade represents a 42.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,959 shares of company stock worth $9,604,766 over the last quarter. 8.16% of the stock is owned by corporate insiders.

Quest Diagnostics Trading Up 2.0%

NYSE DGX opened at $189.19 on Friday. Quest Diagnostics Incorporated has a one year low of $146.17 and a one year high of $189.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.51 and a beta of 0.54. The company's 50-day simple moving average is $178.61 and its two-hundred day simple moving average is $174.55.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly 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. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the business posted $2.35 earnings per share. Quest Diagnostics's revenue for the quarter was up 15.2% on a year-over-year basis. 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 EPS 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. Investors of record on Friday, October 3rd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's dividend payout ratio is presently 38.32%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DGX. Baird R W cut shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Robert W. Baird reiterated a "neutral" rating and issued a $194.00 price objective on shares of Quest Diagnostics in a research report on Monday, August 25th. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. William Blair reissued an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $186.00.

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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