BankPlus Trust Department Purchases 753 Shares of Quest Diagnostics Incorporated $DGX

BankPlus Trust Department lifted its position in Quest Diagnostics Incorporated (NYSE:DGX) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 12,289 shares of the medical research company’s stock after buying an additional 753 shares during the quarter. BankPlus Trust Department’s holdings in Quest Diagnostics were worth $2,207,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DGX. Pinnacle Bancorp Inc. grew its holdings in shares of Quest Diagnostics by 126.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock worth $27,000 after purchasing an additional 85 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock worth $32,000 after purchasing an additional 82 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company’s stock worth $33,000 after purchasing an additional 118 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Quest Diagnostics in the 1st quarter worth about $35,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 2.0%

Shares of NYSE DGX opened at $181.95 on Wednesday. The firm has a market capitalization of $20.35 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.37 and a beta of 0.56. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 1 year low of $146.53 and a 1 year high of $191.49. The firm’s 50-day moving average is $180.42 and its 200-day moving average is $175.22.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (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 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 last year, the firm earned $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is currently 38.32%.

Wall Street Analyst Weigh In

DGX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Truist Financial raised their price objective on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. 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. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Finally, UBS Group lowered their price objective on shares of Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $186.31.

Insider Activity at Quest Diagnostics

In related news, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total value of $365,375.00. Following the sale, the senior vice president directly owned 15,269 shares in the company, valued at $2,824,765. This trade represents a 11.45% 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 2,210 shares of the 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 sale, the senior vice president owned 8,450 shares in the company, valued at $1,436,500. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,186 shares of company stock worth $9,647,471 in the last ninety days. Company 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.