SteelPeak Wealth LLC Buys 268 Shares of Quest Diagnostics Incorporated $DGX

SteelPeak Wealth LLC increased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.8% during the 2nd quarter, Holdings Channel reports. The fund owned 14,957 shares of the medical research company’s stock after acquiring an additional 268 shares during the period. SteelPeak Wealth LLC’s holdings in Quest Diagnostics were worth $2,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. boosted 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 acquiring an additional 85 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock worth $31,000 after acquiring an additional 67 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock worth $32,000 after acquiring an additional 82 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Quest Diagnostics by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company’s stock worth $33,000 after acquiring an additional 118 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Quest Diagnostics during the first quarter worth $35,000. 88.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 2,210 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 227 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $188.13, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,186 shares of company stock worth $9,647,471. Insiders own 8.16% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $181.95 on Wednesday. The firm has a 50-day moving average of $180.42 and a 200-day moving average of $175.22. The company has a market cap of $20.35 billion, a P/E ratio of 21.79, a P/E/G ratio of 2.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. Quest Diagnostics Incorporated has a one year low of $146.53 and a one year high of $191.49.

Quest Diagnostics (NYSE:DGX) last announced its earnings results 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 company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS 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 issued 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 (DPR) is 38.32%.

Analyst Ratings Changes

Several research analysts have weighed in on DGX shares. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. UBS Group lowered their price objective on shares of Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Baird R W downgraded shares of Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Barclays upped their price objective on shares of Quest Diagnostics from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Finally, Robert W. Baird restated a “neutral” rating and set a $194.00 price objective on shares of Quest Diagnostics in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.31.

About Quest Diagnostics

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.