Thoroughbred Financial Services LLC Trims Holdings in Quest Diagnostics Incorporated $DGX

Thoroughbred Financial Services LLC cut its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,318 shares of the medical research company’s stock after selling 3,072 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Quest Diagnostics were worth $1,673,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DGX. Cullen Frost Bankers Inc. boosted its position in Quest Diagnostics by 5.9% during the first quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company’s stock worth $179,000 after acquiring an additional 59 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Quest Diagnostics by 2.7% during the second quarter. World Investment Advisors now owns 2,623 shares of the medical research company’s stock worth $471,000 after purchasing an additional 68 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Quest Diagnostics by 0.6% during the second quarter. Harbor Capital Advisors Inc. now owns 10,789 shares of the medical research company’s stock worth $1,938,000 after purchasing an additional 69 shares during the last quarter. Choreo LLC grew its position in shares of Quest Diagnostics by 4.5% in the first quarter. Choreo LLC now owns 1,662 shares of the medical research company’s stock valued at $281,000 after purchasing an additional 72 shares during the period. Finally, Meridian Wealth Management LLC increased its stake in Quest Diagnostics by 2.4% in the first quarter. Meridian Wealth Management LLC now owns 3,353 shares of the medical research company’s stock valued at $567,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 0.3%

Shares of NYSE DGX opened at $186.97 on Friday. The stock has a fifty day moving average price of $182.97 and a 200 day moving average price of $178.24. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 12-month low of $148.70 and a 12-month high of $197.55. The company has a market cap of $20.80 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.31 and a beta of 0.58.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.09. Quest Diagnostics had a return on equity of 15.47% and a net margin of 8.91%.The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the firm posted $2.30 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. Research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 13th will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, January 13th. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.56%.

Insider Activity

In other Quest Diagnostics news, Director Gary M. Pfeiffer sold 1,482 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $182.40, for a total value of $270,316.80. Following the transaction, the director owned 29,431 shares in the company, valued at $5,368,214.40. The trade was a 4.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Patrick Plewman sold 1,975 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $185.00, for a total transaction of $365,375.00. Following the completion of the transaction, the senior vice president directly owned 15,269 shares of the company’s stock, valued at approximately $2,824,765. The trade was a 11.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,679 shares of company stock worth $6,833,732 over the last 90 days. Company insiders own 8.16% of the company’s stock.

Analyst Ratings Changes

DGX has been the subject of several recent analyst reports. Mizuho lifted their price target on Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, October 17th. UBS Group boosted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Quest Diagnostics in a research report on Wednesday, October 8th. Morgan Stanley set a $207.00 price target on shares of Quest Diagnostics and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, William Blair restated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Moderate Buy” and a consensus 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.