Raiffeisen Bank International AG Cuts Stake in Quest Diagnostics Incorporated $DGX

Raiffeisen Bank International AG cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 28.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,583 shares of the medical research company’s stock after selling 1,003 shares during the quarter. Raiffeisen Bank International AG’s holdings in Quest Diagnostics were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DGX. Y Intercept Hong Kong Ltd bought a new stake in shares of Quest Diagnostics during the first quarter valued at approximately $1,228,000. G&S Capital LLC purchased a new stake in Quest Diagnostics during the 2nd quarter valued at $1,262,000. Fred Alger Management LLC increased its holdings in shares of Quest Diagnostics by 9.9% in the 1st quarter. Fred Alger Management LLC now owns 19,378 shares of the medical research company’s stock worth $3,279,000 after purchasing an additional 1,745 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Quest Diagnostics during the first quarter valued at $1,408,000. Finally, Martin Capital Partners LLC boosted its position in shares of Quest Diagnostics by 194.2% during the second quarter. Martin Capital Partners LLC now owns 5,107 shares of the medical research company’s stock valued at $917,000 after buying an additional 3,371 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling at Quest Diagnostics

In related news, Director Gary M. Pfeiffer sold 1,482 shares of Quest Diagnostics stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $182.40, for a total transaction of $270,316.80. Following the transaction, the director owned 29,431 shares in the company, valued at approximately $5,368,214.40. The trade was a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 227 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $188.13, for a total value of $42,705.51. Following the completion of the sale, the senior vice president owned 38,117 shares of the company’s stock, valued at $7,170,951.21. The trade was a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,172 shares of company stock worth $5,639,001 over the last 90 days. Insiders own 8.16% of the company’s stock.

Quest Diagnostics Stock Up 0.4%

NYSE DGX opened at $186.10 on Thursday. Quest Diagnostics Incorporated has a 52 week low of $148.70 and a 52 week high of $197.55. 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 company has a market capitalization of $20.70 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.58. The stock’s 50-day moving average price is $183.21 and its 200-day moving average price is $178.40.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, October 21st. The medical research company reported $2.60 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the company posted $2.30 EPS. The firm’s 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. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

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

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Quest Diagnostics in a report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on shares of Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. UBS Group raised their price target on Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Robert W. Baird reiterated a “neutral” rating and set a $194.00 price objective on shares of Quest Diagnostics in a research report on Monday, August 25th. Finally, Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.31.

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.