SVB Wealth LLC Decreases Stock Holdings in Quest Diagnostics Incorporated $DGX

SVB Wealth LLC lowered its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 25.8% in the first quarter, HoldingsChannel.com reports. The firm owned 12,869 shares of the medical research company’s stock after selling 4,479 shares during the quarter. SVB Wealth LLC’s holdings in Quest Diagnostics were worth $2,522,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DGX. Brookstone Capital Management increased its holdings in shares of Quest Diagnostics by 52.1% in the 1st quarter. Brookstone Capital Management now owns 1,951 shares of the medical research company’s stock valued at $382,000 after acquiring an additional 668 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Quest Diagnostics by 20.9% during the 1st quarter. SG Americas Securities LLC now owns 217,286 shares of the medical research company’s stock worth $42,584,000 after acquiring an additional 37,633 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in Quest Diagnostics during the first quarter worth approximately $212,000. Park National Corp OH purchased a new stake in Quest Diagnostics during the first quarter worth approximately $94,000. Finally, Founders Financial Securities LLC lifted its stake in Quest Diagnostics by 15.0% during the first quarter. Founders Financial Securities LLC now owns 1,568 shares of the medical research company’s stock worth $310,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on DGX shares. Weiss Ratings upgraded shares of Quest Diagnostics from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, June 9th. Truist Financial boosted their price objective on shares of Quest Diagnostics from $220.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and issued a $225.00 target price on shares of Quest Diagnostics in a report on Tuesday, April 21st. Wall Street Zen raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays lifted their price target on shares of Quest Diagnostics from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Quest Diagnostics currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.58.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 8,147 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the completion of the sale, the senior vice president owned 13,510 shares in the company, valued at $2,702,000. This represents a 37.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the transaction, the chief executive officer directly owned 132,423 shares in the company, valued at $25,708,601.22. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is owned by corporate insiders.

Quest Diagnostics Trading Down 0.7%

NYSE:DGX opened at $193.70 on Tuesday. The company has a market capitalization of $21.44 billion, a PE ratio of 21.40, a P/E/G ratio of 2.32 and a beta of 0.59. Quest Diagnostics Incorporated has a 52-week low of $164.65 and a 52-week high of $213.50. The stock’s 50 day moving average price is $194.90 and its 200 day moving average price is $192.27. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.67.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 21st. The medical research company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Quest Diagnostics had a return on equity of 15.60% and a net margin of 9.07%.The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. On average, research analysts anticipate that Quest Diagnostics Incorporated will post 10.72 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a $0.86 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $3.44 annualized dividend and a yield of 1.8%. Quest Diagnostics’s dividend payout ratio is 38.01%.

Quest Diagnostics Company Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.