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Catherine T. Doherty, Executive Vice President of Regional Businesses at Quest Diagnostics Inc. (NYSE:DGX), recently sold shares of the company’s common stock. According to a recent SEC filing, Doherty sold 824 shares on February 27 at an average price of $172.61 per share, amounting to a total transaction value of approximately $142,230. Following this sale, Doherty now directly owns 69,178 shares of Quest Diagnostics. The transaction occurs as the stock trades near its 52-week high of $176.44, with a current market capitalization of $19.1 billion and a P/E ratio of 22. InvestingPro analysis suggests the stock is trading above its Fair Value.
In a separate transaction on February 26, Doherty disposed of 455 shares at $171.75 each, with the proceeds used to cover tax withholding obligations arising from the vesting of restricted stock units. This transaction was not a sale but a disposition to the issuer for tax purposes.
Additionally, Doherty holds 4,428 shares indirectly through a 401(k) and Supplemental Deferred Compensation Plan, acquired periodically by the plan’s trustee.
In other recent news, Quest Diagnostics reported strong fourth-quarter 2024 financial results, surpassing earnings expectations with an adjusted EPS of $2.23, above the forecast of $2.19. The company’s revenue also exceeded projections, reaching $2.62 billion compared to the anticipated $2.58 billion. Quest Diagnostics demonstrated a 14.5% year-over-year increase in consolidated revenues, driven by growth in advanced diagnostics and preventative health services. Additionally, the company has been making significant investments in IT and automation to bolster future growth.
JPMorgan has raised its price target for Quest Diagnostics to $180 from $173, while maintaining a Neutral stock rating. This adjustment follows Quest Diagnostics’ robust earnings performance and management’s stable growth outlook for the clinical labs sector. The firm revised its revenue forecast for 2025 upwards to $10.776 billion from $10.697 billion, although the adjusted EPS estimate for 2025 was slightly lowered to $9.72 from $9.74. Looking further, the 2026 adjusted EPS estimate was increased to $10.56 from $10.44, reflecting continued volume strength and operational margin expansion.
Quest Diagnostics has also been active in the mergers and acquisitions space, completing eight acquisitions in 2024, including LifeLabs in Canada and several hospital outreach lab businesses in the U.S. These acquisitions are expected to contribute significantly to the company’s revenue growth in 2025. The company projects revenue between $10.7 billion and $10.85 billion for 2025, with an anticipated organic growth rate of approximately 3%. The company’s strategic focus on advanced diagnostics and operational improvements positions it favorably for continued growth.
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