Envestnet Portfolio Solutions Inc. Cuts Stock Position in Quest Diagnostics Incorporated $DGX

Envestnet Portfolio Solutions Inc. lessened its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,577 shares of the medical research company’s stock after selling 126 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Quest Diagnostics were worth $822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Quest Diagnostics by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company’s stock worth $1,012,534,000 after purchasing an additional 493,960 shares in the last quarter. Boston Partners purchased a new stake in Quest Diagnostics during the 1st quarter worth about $388,724,000. Alliancebernstein L.P. lifted its holdings in Quest Diagnostics by 7.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,177,572 shares of the medical research company’s stock worth $199,245,000 after purchasing an additional 84,530 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Quest Diagnostics by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,030 shares of the medical research company’s stock worth $171,405,000 after purchasing an additional 10,651 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Quest Diagnostics by 0.6% during the 1st quarter. Ameriprise Financial Inc. now owns 961,154 shares of the medical research company’s stock worth $162,628,000 after purchasing an additional 6,079 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $189.71 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $21.21 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.51 and a beta of 0.56. The business’s 50-day moving average price is $182.44 and its 200-day moving average price is $176.22. Quest Diagnostics Incorporated has a 12 month low of $146.91 and a 12 month high of $191.49.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Sell-side analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

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

Insider Activity

In other news, SVP Patrick Plewman sold 5,535 shares of the stock in a transaction dated 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 directly owned 19,219 shares in the company, valued at approximately $3,363,325. This represents a 22.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 8,269 shares of the firm’s stock in a transaction that occurred 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. The trade was 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. 8.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DGX shares. Truist Financial set a $195.00 price objective on Quest Diagnostics in a report on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of Quest Diagnostics in a research note on Wednesday, October 8th. Evercore ISI upped their target price on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Finally, William Blair restated an “outperform” rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.06.

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.