Cookson Peirce & Co. Inc. Sells 2,842 Shares of Quest Diagnostics Incorporated $DGX

Cookson Peirce & Co. Inc. lowered its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,810 shares of the medical research company’s stock after selling 2,842 shares during the period. Quest Diagnostics makes up approximately 1.3% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 27th largest holding. Cookson Peirce & Co. Inc. owned about 0.15% of Quest Diagnostics worth $30,503,000 as of its most recent SEC filing.

Several other large investors have 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 worth $408,000 after buying an additional 59 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of Quest Diagnostics by 5.9% in the first quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company’s stock worth $179,000 after buying an additional 59 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of Quest Diagnostics by 0.6% in 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 buying an additional 63 shares during the period. Tradewinds LLC. increased its holdings in shares of Quest Diagnostics by 4.5% in the first quarter. Tradewinds LLC. now owns 1,549 shares of the medical research company’s stock worth $262,000 after buying an additional 67 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of 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 worth $1,938,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 3.1%

Shares of NYSE:DGX opened at $184.48 on Wednesday. Quest Diagnostics Incorporated has a 1 year low of $148.70 and a 1 year high of $197.55. The company has a market cap of $20.63 billion, a PE ratio of 22.09, a P/E/G ratio of 2.53 and a beta of 0.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The stock’s 50-day moving average is $182.80 and its 200 day moving average is $176.46.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, October 21st. The medical research company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.09. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the business earned $2.30 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.80 per share. The ex-dividend date was Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Quest Diagnostics’s dividend payout ratio is 38.32%.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 28,288 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was 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 in the company, valued at approximately $7,132,453.04. This represents a 42.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patrick Plewman sold 5,535 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 53,186 shares of company stock worth $9,647,471. Company insiders own 8.16% of the company’s stock.

Analyst Ratings Changes

DGX has been the topic of several analyst reports. Barclays lifted their price objective on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. William Blair reiterated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Evercore ISI boosted their price target on Quest Diagnostics from $185.00 to $190.00 and gave the company an “in-line” rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their price target on Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Quest Diagnostics has an average rating of “Moderate Buy” and an average price target of $193.19.

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.