Quest Diagnostics Incorporated $DGX Shares Sold by TriaGen Wealth Management LLC

TriaGen Wealth Management LLC lowered its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 4.6% in the second quarter, Holdings Channel reports. The firm owned 10,119 shares of the medical research company’s stock after selling 484 shares during the period. TriaGen Wealth Management LLC’s holdings in Quest Diagnostics were worth $1,818,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Pinnacle Bancorp Inc. grew its stake 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 buying an additional 85 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 67 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Quest Diagnostics by 76.6% during the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 82 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Quest Diagnostics by 157.3% during the 1st 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 during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in Quest Diagnostics during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Michael E. Prevoznik sold 28,288 shares of Quest Diagnostics stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $187.12, for a total value of $5,293,250.56. Following the completion of the transaction, the senior vice president directly owned 38,117 shares in the company, valued at approximately $7,132,453.04. This trade represents 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 accessible through this link. Also, SVP Karthik Kuppusamy sold 8,269 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total value of $1,384,230.60. Following the completion of the sale, the senior vice president directly owned 10,660 shares of the company’s stock, 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. Insiders sold a total of 53,186 shares of company stock valued at $9,647,471 in the last ninety days. Corporate insiders own 8.16% of the company’s stock.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $178.53 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a fifty-two week low of $146.17 and a fifty-two week high of $191.49. The business has a 50 day moving average price of $180.14 and a two-hundred day moving average price of $175.17. The firm has a market cap of $19.96 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56.

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, beating analysts’ consensus estimates of $2.57 by $0.05. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the company posted $2.35 EPS. Quest Diagnostics’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. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on DGX. Truist Financial raised their price objective on Quest Diagnostics from $190.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. Baird R W downgraded Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Quest Diagnostics in a research report on Saturday, September 27th. UBS Group lowered their price objective on shares of Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Finally, Wall Street Zen lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Quest Diagnostics currently has a consensus rating of “Moderate Buy” and an average price target of $186.31.

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.