Michael Prevoznik Sells 227 Shares of Quest Diagnostics (NYSE:DGX) Stock

Key Points

• Michael Prevoznik, SVP of Quest Diagnostics, sold 227 shares at an average price of $188.13, totaling $42,705.51, which represents a 0.59% decrease in his overall position in the company.
• Quest Diagnostics reported $2.62 EPS for the last quarter, exceeding estimates, with revenues of $2.76 billion, reflecting a 15.2% increase year-over-year.
• The company will pay a quarterly dividend of $0.80 on October 20th, with a 1.7% dividend yield and a payout ratio of 38.32%.

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) SVP Michael Prevoznik sold 227 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $188.13, for a total value of $42,705.51. Following the transaction, the senior vice president owned 38,117 shares in the company, valued at approximately $7,170,951.21. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Quest Diagnostics Stock Performance

DGX stock traded up $1.83 during midday trading on Tuesday, hitting $190.67. 780,509 shares of the company traded hands, compared to its average volume of 1,100,224. Quest Diagnostics Incorporated has a twelve month low of $146.17 and a twelve month high of $191.49. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The business has a 50 day simple moving average of $179.04 and a 200-day simple moving average of $174.73. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.51 and a beta of 0.54.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results 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 company 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%.The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. As a group, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed 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 1.7%. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Institutional Investors Weigh In On Quest Diagnostics

Several institutional investors and hedge funds have recently made changes to their positions in the company. BankPlus Wealth Management LLC boosted its stake in shares of Quest Diagnostics by 2.5% in the 1st quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company's stock valued at $408,000 after purchasing an additional 59 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Quest Diagnostics by 5.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company's stock valued at $179,000 after acquiring an additional 59 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Quest Diagnostics by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company's stock valued at $1,948,000 after acquiring an additional 63 shares during the last quarter. Clarius Group LLC increased its stake in Quest Diagnostics by 4.8% during the 1st quarter. Clarius Group LLC now owns 1,421 shares of the medical research company's stock worth $240,000 after purchasing an additional 65 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its stake in Quest Diagnostics by 1.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company's stock worth $664,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Baird R W downgraded shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Robert W. Baird restated a "neutral" rating and issued a $194.00 price objective on shares of Quest Diagnostics in a research note on Monday, August 25th. Deutsche Bank Aktiengesellschaft lifted 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. William Blair reiterated an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Finally, UBS Group decreased 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 note on Friday, July 18th. One equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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