Delta Capital Management LLC Sells 2,600 Shares of Quest Diagnostics Incorporated $DGX

Delta Capital Management LLC reduced its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 12.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,710 shares of the medical research company’s stock after selling 2,600 shares during the quarter. Quest Diagnostics accounts for approximately 1.1% of Delta Capital Management LLC’s portfolio, making the stock its 24th largest holding. Delta Capital Management LLC’s holdings in Quest Diagnostics were worth $3,073,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Perigon Wealth Management LLC grew its position in shares of Quest Diagnostics by 4.5% during the 3rd quarter. Perigon Wealth Management LLC now owns 1,275 shares of the medical research company’s stock valued at $243,000 after acquiring an additional 55 shares during the period. Independent Advisor Alliance lifted its stake in Quest Diagnostics by 1.4% in the third quarter. Independent Advisor Alliance now owns 4,232 shares of the medical research company’s stock valued at $807,000 after purchasing an additional 59 shares during the last quarter. True North Advisors LLC grew its holdings in Quest Diagnostics by 4.1% during the third quarter. True North Advisors LLC now owns 1,554 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 61 shares during the period. Ossiam increased its position in Quest Diagnostics by 6.1% in the third quarter. Ossiam now owns 1,059 shares of the medical research company’s stock worth $202,000 after buying an additional 61 shares during the last quarter. Finally, OLD Second National Bank of Aurora increased its position in Quest Diagnostics by 14.9% in the third quarter. OLD Second National Bank of Aurora now owns 517 shares of the medical research company’s stock worth $99,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Catherine T. Doherty sold 5,558 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $206.21, for a total value of $1,146,115.18. Following the transaction, the executive vice president directly owned 67,122 shares in the company, valued at approximately $13,841,227.62. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patrick Plewman sold 2,855 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $206.21, for a total transaction of $588,729.55. Following the completion of the transaction, the senior vice president directly owned 15,198 shares in the company, valued at $3,133,979.58. The trade was a 15.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 24,083 shares of company stock worth $4,945,262. 8.16% of the stock is currently owned by insiders.

Quest Diagnostics Stock Performance

Quest Diagnostics stock opened at $197.09 on Tuesday. Quest Diagnostics Incorporated has a 1-year low of $157.20 and a 1-year high of $213.50. The company has a current ratio of 1.04, a quick ratio of 0.96 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $21.65 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 2.52 and a beta of 0.65. The firm’s 50 day simple moving average is $197.60 and its 200 day simple moving average is $187.67.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, February 10th. The medical research company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.07. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.75 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.57%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 EPS. Quest Diagnostics has set its FY 2026 guidance at 9.45-9.650 EPS. As a group, analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 10th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Monday, April 6th will be paid a $0.86 dividend. The ex-dividend date is Monday, April 6th. This represents a $3.44 dividend on an annualized basis and a yield of 1.7%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.80. Quest Diagnostics’s dividend payout ratio is currently 36.57%.

Wall Street Analysts Forecast Growth

DGX has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of Quest Diagnostics from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Truist Financial boosted their price target on shares of Quest Diagnostics from $205.00 to $220.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Evercore set a $220.00 price objective on shares of Quest Diagnostics in a report on Wednesday, February 11th. Citigroup lifted their price objective on shares of Quest Diagnostics from $190.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and an average target price of $210.29.

Quest Diagnostics Company 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.