SVB Wealth LLC Has $3.01 Million Holdings in Quest Diagnostics Incorporated $DGX

SVB Wealth LLC reduced its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,348 shares of the medical research company’s stock after selling 5,300 shares during the quarter. SVB Wealth LLC’s holdings in Quest Diagnostics were worth $3,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Quest Diagnostics during the 4th quarter worth about $323,000. Cresset Asset Management LLC lifted its position in Quest Diagnostics by 4.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company’s stock worth $719,000 after buying an additional 176 shares in the last quarter. Gabelli Funds LLC acquired a new position in Quest Diagnostics during the 2nd quarter worth about $287,000. Bank of Nova Scotia lifted its position 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 in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays upped their price target on shares of Quest Diagnostics from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Mizuho upped their price objective on Quest Diagnostics from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Robert W. Baird upped their price objective on Quest Diagnostics from $224.00 to $229.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Citigroup upped their price objective on Quest Diagnostics from $190.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Evercore set a $225.00 price objective on Quest Diagnostics in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.58.

Insider Activity

In related news, EVP Catherine T. Doherty sold 5,558 shares of the 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 sale, the executive vice president directly owned 67,122 shares in the company, valued at $13,841,227.62. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Karthik Kuppusamy sold 2,628 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $204.86, for a total transaction of $538,372.08. Following the completion of the sale, the senior vice president owned 13,441 shares in the company, valued at $2,753,523.26. This represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 24,083 shares of company stock valued at $4,945,262. Insiders own 0.88% of the company’s stock.

Quest Diagnostics Stock Performance

DGX stock opened at $187.43 on Monday. The business’s fifty day moving average is $198.21 and its 200-day moving average is $189.77. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.67. The company has a market cap of $20.75 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 2.23 and a beta of 0.60. Quest Diagnostics Incorporated has a twelve month low of $164.65 and a twelve month high of $213.50.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, April 21st. The medical research company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. Quest Diagnostics had a return on equity of 15.60% and a net margin of 9.07%.The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.94 EPS. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Equities research analysts forecast that Quest Diagnostics Incorporated will post 10.73 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 6th were given a $0.86 dividend. The ex-dividend date was Monday, April 6th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.80. Quest Diagnostics’s dividend payout ratio is 38.01%.

Quest Diagnostics announced that its Board of Directors has approved a stock buyback program on Tuesday, February 10th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.