Quest Diagnostics Incorporated $DGX Position Reduced by Capital Investment Advisors LLC

Capital Investment Advisors LLC decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 21.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,965 shares of the medical research company’s stock after selling 799 shares during the quarter. Capital Investment Advisors LLC’s holdings in Quest Diagnostics were worth $533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its holdings in Quest Diagnostics by 126.9% during the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock worth $27,000 after purchasing an additional 85 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Quest Diagnostics by 57.8% during the first 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 in the last quarter. First Horizon Advisors Inc. raised its holdings in Quest Diagnostics by 76.6% during the first 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 in the last quarter. Golden State Wealth Management LLC raised its holdings in Quest Diagnostics by 157.3% during the first 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 in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Quest Diagnostics in the first quarter valued at $35,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 0.7%

NYSE DGX opened at $180.88 on Friday. Quest Diagnostics Incorporated has a twelve month low of $146.17 and a twelve month high of $191.49. 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 stock has a market cap of $20.23 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.42 and a beta of 0.56. The firm’s 50 day moving average price is $179.71 and its two-hundred day moving average price is $174.94.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the company posted $2.35 EPS. The company’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. Equities analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Michael E. Prevoznik sold 28,288 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total transaction of $5,293,250.56. Following the transaction, the senior vice president directly owned 38,117 shares in the company, valued at $7,132,453.04. The trade was a 42.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Karthik Kuppusamy sold 8,269 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the transaction, the senior vice president owned 10,660 shares in the company, valued at approximately $1,784,484. This represents a 43.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,186 shares of company stock worth $9,647,471. Corporate insiders own 8.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays upped their price target on Quest Diagnostics from $185.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Quest Diagnostics from $160.00 to $178.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Evercore ISI set a $185.00 price target on Quest Diagnostics in a report on Wednesday, July 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $194.00 price target on shares of Quest Diagnostics in a report on Monday, August 25th. Finally, Truist Financial upped their price target on Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. One investment 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.31.

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.