Brandywine Global Investment Management LLC Cuts Position in Quest Diagnostics Incorporated $DGX

Brandywine Global Investment Management LLC decreased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,828 shares of the medical research company’s stock after selling 1,910 shares during the quarter. Brandywine Global Investment Management LLC owned 0.07% of Quest Diagnostics worth $14,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position in shares of Quest Diagnostics by 126.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 85 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth $29,000. AlphaQuest LLC increased its holdings in Quest Diagnostics by 18,400.0% in the second quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock valued at $33,000 after buying an additional 184 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Quest Diagnostics in the second quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Quest Diagnostics by 1,495.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 335 shares of the medical research company’s stock valued at $57,000 after buying an additional 314 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Robert W. Baird reaffirmed a “neutral” rating and set a $194.00 price objective on shares of Quest Diagnostics in a research report on Monday, August 25th. Jefferies Financial Group upped their price target on Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Barclays raised their price objective on shares of Quest Diagnostics from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Quest Diagnostics in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $207.00 price target on shares of Quest Diagnostics and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.31.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock opened at $191.10 on Friday. The firm’s fifty day simple moving average is $183.46 and its 200-day simple moving average is $178.56. Quest Diagnostics Incorporated has a 12 month low of $148.70 and a 12 month high of $197.55. The stock has a market capitalization of $21.26 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.31 and a beta of 0.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.04.

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

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 13th will be paid a dividend of $0.80 per share. 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 is currently 37.56%.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Mark E. Delaney sold 7,946 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total value of $1,488,683.10. Following the transaction, the senior vice president directly owned 7,530 shares in the company, valued at approximately $1,410,745.50. This trade represents a 51.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 227 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president owned 38,117 shares of the company’s stock, valued at $7,170,951.21. This trade represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 38,118 shares of company stock valued at $7,127,684. 8.16% of the stock is owned by company insiders.

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.