Daymark Wealth Partners LLC Lowers Stake in Quest Diagnostics Incorporated $DGX

Daymark Wealth Partners LLC lowered its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,109 shares of the medical research company’s stock after selling 444 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Quest Diagnostics were worth $3,612,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Quaker Wealth Management LLC lifted its holdings in shares of Quest Diagnostics by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 351 shares of the medical research company’s stock worth $63,000 after buying an additional 702 shares in the last quarter. New York Life Investment Management LLC increased its position in Quest Diagnostics by 1.0% during the second quarter. New York Life Investment Management LLC now owns 16,733 shares of the medical research company’s stock valued at $3,006,000 after acquiring an additional 164 shares during the last quarter. Trust Investment Advisors bought a new position in Quest Diagnostics during the second quarter valued at $223,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Quest Diagnostics by 32.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,220 shares of the medical research company’s stock worth $8,123,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Quest Diagnostics by 3.9% in the second quarter. Teacher Retirement System of Texas now owns 16,949 shares of the medical research company’s stock worth $3,045,000 after purchasing an additional 634 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 1.9%

NYSE DGX opened at $174.90 on Thursday. The business’s fifty day simple moving average is $182.75 and its 200-day simple moving average is $177.28. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71. The firm has a market cap of $19.46 billion, a PE ratio of 20.53, a P/E/G ratio of 2.35 and a beta of 0.56. Quest Diagnostics Incorporated has a 52 week low of $148.70 and a 52 week high of $197.55.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 21st. The medical research company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.09. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.73 billion. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company earned $2.30 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. As a group, equities analysts anticipate 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 was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Quest Diagnostics’s payout ratio is currently 37.56%.

Insider Transactions at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 28,288 shares of the business’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 completion of the sale, the senior vice president owned 38,117 shares in the company, valued at $7,132,453.04. The trade was a 42.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick Plewman sold 5,535 shares of the business’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 sale, the senior vice president owned 19,219 shares of the company’s stock, valued at approximately $3,363,325. The trade was a 22.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 44,189 shares of company stock valued at $8,157,857. 8.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Quest Diagnostics from $195.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Leerink Partners increased their price objective on shares of Quest Diagnostics from $203.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft increased their price target 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. Morgan Stanley set a $207.00 price target on shares of Quest Diagnostics and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Evercore ISI raised their price objective on shares of Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.31.

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.