Allianz Asset Management GmbH Has $54.67 Million Position in Quest Diagnostics Incorporated $DGX

Allianz Asset Management GmbH reduced its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 21.8% in the 2nd quarter, Holdings Channel reports. The firm owned 304,361 shares of the medical research company’s stock after selling 84,694 shares during the period. Allianz Asset Management GmbH’s holdings in Quest Diagnostics were worth $54,672,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Twin Tree Management LP acquired a new position in shares of Quest Diagnostics during the second quarter worth approximately $1,895,000. J.Safra Asset Management Corp grew its position in Quest Diagnostics by 8.2% in the second quarter. J.Safra Asset Management Corp now owns 2,553 shares of the medical research company’s stock valued at $454,000 after acquiring an additional 194 shares during the period. TD Asset Management Inc grew its position in Quest Diagnostics by 18.0% in the second quarter. TD Asset Management Inc now owns 121,014 shares of the medical research company’s stock valued at $21,738,000 after acquiring an additional 18,484 shares during the period. Morningstar Investment Management LLC bought a new stake in Quest Diagnostics in the second quarter valued at $315,000. Finally, Moran Wealth Management LLC bought a new stake in shares of Quest Diagnostics during the second quarter worth $18,558,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Michael E. Prevoznik sold 28,288 shares of Quest Diagnostics stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $187.12, for a total value of $5,293,250.56. Following the transaction, the senior vice president owned 38,117 shares in the company, valued at approximately $7,132,453.04. This trade represents a 42.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Patrick Plewman sold 5,535 shares of Quest Diagnostics stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the transaction, the senior vice president owned 19,219 shares in the company, valued at approximately $3,363,325. The trade was a 22.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,186 shares of company stock worth $9,647,471. Insiders own 8.16% of the company’s stock.

Analyst Ratings Changes

DGX has been the topic of several research analyst reports. Barclays increased their target price on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Robert W. Baird reissued a “neutral” rating and issued a $194.00 target price on shares of Quest Diagnostics in a research note on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Quest Diagnostics in a research report on Wednesday, October 8th. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Finally, Mizuho increased their price objective on Quest Diagnostics from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Quest Diagnostics has an average rating of “Moderate Buy” and a consensus price target of $189.06.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $189.71 on Friday. The stock has a market cap of $21.21 billion, a P/E ratio of 22.72, a PEG ratio of 2.48 and a beta of 0.56. The stock has a 50 day simple moving average of $182.44 and a 200 day simple moving average of $176.13. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 1-year low of $146.91 and a 1-year high of $191.49.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $2.35 EPS. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics’s payout ratio is currently 38.32%.

About Quest Diagnostics

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.