CNB Bank Sells 413 Shares of Quest Diagnostics Incorporated $DGX

CNB Bank cut its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,330 shares of the medical research company’s stock after selling 413 shares during the quarter. CNB Bank’s holdings in Quest Diagnostics were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its position in Quest Diagnostics by 126.9% during the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock valued at $27,000 after buying an additional 85 shares during the period. First Horizon Advisors Inc. grew its position 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 valued at $32,000 after buying an additional 82 shares during the period. Golden State Wealth Management LLC grew its position 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 valued at $33,000 after buying an additional 118 shares during the period. AlphaQuest LLC grew its position in Quest Diagnostics by 18,400.0% during the second quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock valued at $33,000 after buying an additional 184 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Quest Diagnostics during the second quarter valued at approximately $35,000. 88.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 227 shares of the stock in a transaction on 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 owned 38,117 shares of the company’s stock, valued at approximately $7,170,951.21. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Patrick Plewman sold 1,975 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $185.00, for a total transaction of $365,375.00. Following the completion of the sale, the senior vice president directly owned 15,269 shares in the company, valued at approximately $2,824,765. This represents a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,668 shares of company stock worth $9,917,788 in the last ninety days. Company insiders own 8.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DGX. Jefferies Financial Group upped their price target on shares of Quest Diagnostics from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday. William Blair reiterated an “outperform” rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Mizuho upped their price target on shares of Quest Diagnostics from $190.00 to $210.00 and gave the stock an “outperform” rating in a research 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 stock an “in-line” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Quest Diagnostics in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.31.

Quest Diagnostics Price Performance

DGX stock opened at $182.51 on Friday. Quest Diagnostics Incorporated has a one year low of $148.70 and a one year high of $197.55. The company’s fifty day moving average price is $182.99 and its 200-day moving average price is $176.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.13. The company has a market capitalization of $20.30 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.42 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.51 by $0.09. The firm had revenue of $2.82 billion for 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%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 earnings per share. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Quest Diagnostics’s dividend payout ratio is presently 38.32%.

Quest Diagnostics Company 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.