Quest Diagnostics Incorporated $DGX Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 21.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 304,361 shares of the medical research company's stock after selling 84,694 shares during the period. Allianz Asset Management GmbH owned about 0.27% of Quest Diagnostics worth $54,672,000 at the end of the most recent quarter.

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Several other hedge funds and other institutional investors have also recently modified their holdings of DGX. Twin Tree Management LP acquired a new stake in Quest Diagnostics during the second quarter worth about $1,895,000. J.Safra Asset Management Corp boosted its stake in shares of Quest Diagnostics by 8.2% in the second quarter. J.Safra Asset Management Corp now owns 2,553 shares of the medical research company's stock valued at $454,000 after purchasing an additional 194 shares during the period. TD Asset Management Inc boosted its stake in shares of Quest Diagnostics by 18.0% in the second quarter. TD Asset Management Inc now owns 121,014 shares of the medical research company's stock valued at $21,738,000 after purchasing an additional 18,484 shares during the period. Morningstar Investment Management LLC purchased a new position in shares of Quest Diagnostics in the second quarter valued at approximately $315,000. Finally, Moran Wealth Management LLC purchased a new position in Quest Diagnostics in the second quarter worth approximately $18,558,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Up 1.5%

DGX stock opened at $189.71 on Friday. Quest Diagnostics Incorporated has a twelve month low of $146.91 and a twelve month high of $191.49. 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 company has a market capitalization of $21.21 billion, a P/E ratio of 22.72, a PEG ratio of 2.48 and a beta of 0.56. The firm has a 50 day simple moving average of $182.44 and a 200-day simple moving average of $176.13.

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Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the business posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. On average, equities research analysts predict 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. Investors 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 dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's payout ratio is currently 38.32%.

Insider Activity at Quest Diagnostics

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In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 227 shares of the business's stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $188.13, for a total value of $42,705.51. Following the sale, the senior vice president directly owned 38,117 shares in the company, valued at approximately $7,170,951.21. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karthik Kuppusamy sold 2,210 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the sale, the senior vice president owned 8,450 shares in the company, valued at approximately $1,436,500. This trade represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,186 shares of company stock worth $9,647,471 over the last ninety days. 8.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DGX has been the subject of several recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Quest Diagnostics in a research report on Wednesday, October 8th. Baird R W cut shares of Quest Diagnostics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Truist Financial set a $195.00 price target on shares of Quest Diagnostics in a research note on Tuesday. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Mizuho boosted their price objective on shares of Quest Diagnostics from $190.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday. One research 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $189.06.

Read Our Latest Stock Analysis on DGX

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.

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