Elevation Point Wealth Partners LLC Buys New Position in Quest Diagnostics Incorporated $DGX

Elevation Point Wealth Partners LLC bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 6,487 shares of the medical research company’s stock, valued at approximately $1,375,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $323,000. Cresset Asset Management LLC grew its holdings in shares of Quest Diagnostics by 4.6% in the second quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company’s stock valued at $719,000 after purchasing an additional 176 shares in the last quarter. Gabelli Funds LLC purchased a new stake in Quest Diagnostics during the 2nd quarter worth approximately $287,000. Bank of Nova Scotia increased its stake in Quest Diagnostics by 7.2% during the 2nd quarter. Bank of Nova Scotia now owns 14,339 shares of the medical research company’s stock worth $2,576,000 after buying an additional 962 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Quest Diagnostics by 17.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 18,599 shares of the medical research company’s stock worth $3,341,000 after buying an additional 2,718 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 8,147 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the transaction, the senior vice president owned 13,510 shares in the company, valued at $2,702,000. This trade represents a 37.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark E. Delaney sold 1,600 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $235.18, for a total value of $376,288.00. Following the transaction, the senior vice president directly owned 10,335 shares in the company, valued at approximately $2,430,585.30. This trade represents a 13.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,747 shares of company stock valued at $3,947,088 over the last ninety days. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho boosted their price target on shares of Quest Diagnostics from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Argus set a $260.00 target price on Quest Diagnostics in a report on Wednesday, July 29th. Weiss Ratings raised Quest Diagnostics from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. Barclays upped their price target on Quest Diagnostics from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Truist Financial lifted their price objective on Quest Diagnostics from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.31.

Quest Diagnostics Trading Down 0.0%

NYSE:DGX opened at $244.34 on Monday. Quest Diagnostics Incorporated has a 1 year low of $171.18 and a 1 year high of $245.68. The stock has a market cap of $26.97 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.25 and a beta of 0.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 1.59. The stock has a 50-day simple moving average of $219.35 and a 200-day simple moving average of $205.29.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.30. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.62 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. As a group, analysts anticipate that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, October 6th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 36.52%.

Quest Diagnostics 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.