Texas Permanent School Fund Corp Sells 3,964 Shares of Quest Diagnostics Incorporated $DGX

Texas Permanent School Fund Corp lowered its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 33.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,749 shares of the medical research company’s stock after selling 3,964 shares during the period. Texas Permanent School Fund Corp’s holdings in Quest Diagnostics were worth $1,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Trust Co bought a new position in shares of Quest Diagnostics in the 2nd quarter valued at $346,000. Osaic Holdings Inc. increased its holdings in Quest Diagnostics by 1.6% in the 2nd quarter. Osaic Holdings Inc. now owns 23,399 shares of the medical research company’s stock worth $4,201,000 after purchasing an additional 365 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Quest Diagnostics by 88.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 24,167 shares of the medical research company’s stock worth $4,341,000 after purchasing an additional 11,351 shares in the last quarter. Marex Group plc bought a new position in Quest Diagnostics in the second quarter valued at about $269,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Quest Diagnostics during the second quarter valued at about $591,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 0.7%

Shares of NYSE DGX opened at $175.07 on Wednesday. Quest Diagnostics Incorporated has a 52-week low of $148.70 and a 52-week high of $197.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 1.13. The company’s 50 day moving average price is $183.01 and its 200-day moving average price is $179.92. The company has a market capitalization of $19.48 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 2.38 and a beta of 0.62.

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

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 13th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, January 13th. Quest Diagnostics’s payout ratio is currently 37.56%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group upped their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Mizuho boosted their target price on shares of Quest Diagnostics from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Evercore ISI upped their price target on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an “in-line” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quest Diagnostics in a report on Monday. Finally, Leerink Partners increased their price objective on Quest Diagnostics from $203.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $197.27.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $191.76, for a total transaction of $239,700.00. Following the transaction, the director directly owned 17,037 shares in the company, valued at approximately $3,267,015.12. This represents a 6.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary M. Pfeiffer sold 1,482 shares of the firm’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $182.40, for a total transaction of $270,316.80. Following the sale, the director directly owned 29,431 shares of the company’s stock, valued at approximately $5,368,214.40. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,998 shares of company stock worth $12,631,382 over the last quarter. 8.16% of the stock is owned by company insiders.

About Quest Diagnostics

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.