Kovitz Investment Group Partners LLC Boosts Stock Holdings in Quest Diagnostics Incorporated $DGX

Kovitz Investment Group Partners LLC grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 36.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,111 shares of the medical research company’s stock after buying an additional 1,106 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Quest Diagnostics were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. BankPlus Wealth Management LLC increased its holdings in shares of Quest Diagnostics by 2.5% during the 1st 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. grew its stake in 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 acquiring an additional 59 shares during the period. Linden Thomas Advisory Services LLC grew its stake in Quest Diagnostics by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company’s stock valued at $1,948,000 after acquiring an additional 63 shares during the period. Clarius Group LLC grew its stake in Quest Diagnostics by 4.8% in the 1st 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 grew its stake in Quest Diagnostics by 1.7% in the 1st 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 period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Patrick Plewman sold 5,535 shares of Quest Diagnostics stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total transaction of $968,625.00. Following the transaction, the senior vice president owned 19,219 shares in the company, valued at $3,363,325. The trade was a 22.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 8,269 shares of Quest Diagnostics stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total value 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,989 shares of company stock worth $3,084,056. Insiders own 8.16% of the company’s stock.

Quest Diagnostics Trading Up 0.8%

Shares of DGX opened at $184.2330 on Thursday. Quest Diagnostics Incorporated has a 52-week low of $146.17 and a 52-week high of $184.97. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average is $175.00 and its two-hundred day moving average is $172.18. The stock has a market cap of $20.60 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.43 and a beta of 0.46.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) 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 company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the company posted $2.35 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics’s payout ratio is currently 38.32%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DGX shares. William Blair reissued an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Quest Diagnostics from $160.00 to $178.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Truist Financial lifted their price target on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI set a $185.00 price target on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.00.

Quest Diagnostics Company 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.