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

Elevation Point Wealth Partners LLC purchased a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 added to or reduced their stakes in DGX. Key Financial Inc increased its stake in shares of Quest Diagnostics by 1,728.6% in the 1st quarter. Key Financial Inc now owns 128 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. Quattro Advisors LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $25,000. Sittner & Nelson LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $29,000. DV Equities LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $27,000. Finally, Frazier Financial Advisors LLC lifted its position in shares of Quest Diagnostics by 492.9% during the 1st quarter. Frazier Financial Advisors LLC now owns 166 shares of the medical research company’s stock valued at $33,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 8,147 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $200.00, for a total value of $1,629,400.00. Following the completion of the sale, the senior vice president owned 13,510 shares of the company’s stock, valued at $2,702,000. This represents a 37.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $235.18, for a total transaction of $376,288.00. Following the sale, the senior vice president directly owned 10,335 shares in the company, valued at approximately $2,430,585.30. The trade was a 13.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,747 shares of company stock worth $3,947,088 in the last ninety days. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price target on shares of Quest Diagnostics from $236.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Barclays lifted their target price on shares of Quest Diagnostics from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. Argus set a $260.00 price objective on Quest Diagnostics in a report on Wednesday, July 29th. Finally, Weiss Ratings raised Quest Diagnostics from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Quest Diagnostics currently has an average rating of “Moderate Buy” and an average price target of $235.31.

Quest Diagnostics Price Performance

DGX stock 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 company has a debt-to-equity ratio of 0.72, a current ratio of 1.59 and a quick ratio of 1.46. The firm has a market capitalization of $26.97 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.25 and a beta of 0.56. The business 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 released its quarterly earnings data on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.30. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the company posted $2.62 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Tuesday, October 6th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $3.44 dividend on an annualized basis and a yield of 1.4%. Quest Diagnostics’s payout ratio is 36.52%.

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.