BI Asset Management Fondsmaeglerselskab A S Sells 1,708 Shares of Quest Diagnostics Incorporated $DGX

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 31.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,651 shares of the medical research company’s stock after selling 1,708 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Quest Diagnostics were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. BankPlus Wealth Management LLC increased its holdings in shares of Quest Diagnostics by 2.5% in the first 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 buying an additional 59 shares during the period. Linden Thomas Advisory Services LLC raised its position in shares of Quest Diagnostics by 0.6% during the first quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company’s stock worth $1,948,000 after acquiring an additional 63 shares during the last quarter. Clarius Group LLC lifted its stake in shares of Quest Diagnostics by 4.8% during the first quarter. Clarius Group LLC now owns 1,421 shares of the medical research company’s stock valued at $240,000 after acquiring an additional 65 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Quest Diagnostics by 1.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company’s stock valued at $664,000 after acquiring an additional 66 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Patrick Plewman sold 4,532 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $183.00, for a total transaction of $829,356.00. Following the sale, the senior vice president directly owned 17,244 shares in the company, valued at approximately $3,155,652. This trade represents a 20.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 2,210 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the transaction, the senior vice president directly owned 8,450 shares in the company, valued at approximately $1,436,500. The trade was a 20.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,521 shares of company stock worth $3,913,412. 8.16% of the stock is currently owned by insiders.

Quest Diagnostics Stock Down 2.0%

Shares of NYSE:DGX opened at $180.10 on Friday. The company has a 50 day moving average price of $175.09 and a two-hundred day moving average price of $172.49. 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 $20.14 billion, a PE ratio of 21.57, a PEG ratio of 2.39 and a beta of 0.46. Quest Diagnostics Incorporated has a 52 week low of $146.17 and a 52 week high of $185.62.

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

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics’s dividend payout ratio is 38.32%.

Analyst Ratings Changes

Several brokerages have weighed in on DGX. UBS Group dropped their price objective on Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Wall Street Zen downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. 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. upped their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Finally, Evercore ISI set a $185.00 price target on Quest Diagnostics in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.