Elevation Point Wealth Partners LLC Increases Stock Holdings in Quest Diagnostics Incorporated $DGX

Elevation Point Wealth Partners LLC grew its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 173.0% during the first quarter, Holdings Channel reports. The firm owned 6,452 shares of the medical research company’s stock after purchasing an additional 4,089 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Quest Diagnostics were worth $1,264,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DGX. Key Financial Inc grew its position 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 buying an additional 121 shares during the last quarter. Quattro Advisors LLC purchased a new stake in Quest Diagnostics in the fourth quarter valued at $25,000. JFS Wealth Advisors LLC boosted its stake in Quest Diagnostics by 114.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 150 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 80 shares in the last quarter. Sittner & Nelson LLC acquired a new position in Quest Diagnostics in the fourth quarter valued at $29,000. Finally, DV Equities LLC purchased a new position in shares of Quest Diagnostics during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 1.0%

NYSE:DGX opened at $213.46 on Tuesday. The stock has a fifty day moving average price of $197.69 and a two-hundred day moving average price of $194.26. The stock has a market capitalization of $23.63 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.57 and a beta of 0.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.18. Quest Diagnostics Incorporated has a 1 year low of $164.65 and a 1 year high of $217.41.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.37 by $0.13. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business’s revenue was up 9.2% on a year-over-year basis. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. As a group, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 10.72 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $3.44 dividend on an annualized basis and a yield of 1.6%. Quest Diagnostics’s payout ratio is currently 38.01%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays upped their target price on Quest Diagnostics from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Evercore set a $225.00 price target on Quest Diagnostics in a research report on Tuesday, April 21st. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Robert W. Baird raised their target price on shares of Quest Diagnostics from $224.00 to $229.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings cut shares of Quest Diagnostics from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $216.58.

Insider Activity

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,147 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the transaction, the senior vice president directly owned 13,510 shares in the company, valued at approximately $2,702,000. This represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the completion of the transaction, the chief executive officer directly owned 132,423 shares of the company’s stock, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.88% of the company’s stock.

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.