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Michael E. Prevoznik, the Senior Vice President and General Counsel of Quest Diagnostics Inc. (NYSE:DGX), a $19.1 billion market cap healthcare diagnostics leader with a "GOOD" InvestingPro Financial Health score, recently sold shares of the company’s common stock. According to a recent SEC filing, Prevoznik sold 528 shares on February 27, 2025, at a price of $172.61 per share, amounting to a total of $91,138. This transaction was executed as part of a pre-established Rule 10b5-1 sales plan. The sale comes as Quest Diagnostics trades near its 52-week high of $176.44, with current analysis suggesting the stock is trading above its Fair Value.
In addition to the sale, Prevoznik disposed of 286 shares on February 26, 2025, at a price of $171.75 per share, to cover tax withholding obligations related to the vesting of restricted stock units. Following these transactions, Prevoznik holds 39,031 shares directly and an additional 5,641 shares indirectly through a 401(k) and Supplemental Deferred Compensation Plan. The company has maintained dividend payments for 22 consecutive years, with 13 years of consecutive increases. Get deeper insights into insider trading patterns and comprehensive analysis with InvestingPro’s detailed research reports.
In other recent news, Quest Diagnostics reported its fourth-quarter 2024 financial results, surpassing market expectations with an adjusted earnings per share (EPS) of $2.23, above the forecast of $2.19. The company’s revenue also outperformed projections, reaching $2.62 billion against the anticipated $2.58 billion, marking a 14.5% year-over-year increase in consolidated revenues. JPMorgan raised its price target for Quest Diagnostics to $180, reflecting the company’s strong performance, while maintaining a Neutral stock rating. Quest Diagnostics’ organic revenue rose by 4.8%, with a notable increase in reported volumes by 13.9%. Despite the strong results, the 2025 adjusted EPS guidance was slightly below expectations due to higher interest expenses and share count assumptions. The company projects revenue for 2025 between $10.7 billion and $10.85 billion, with an expected organic growth rate of approximately 3%. Additionally, Quest Diagnostics continues to invest in IT and automation to enhance operational efficiency and customer experience. These developments highlight the company’s ongoing efforts to expand in areas such as advanced diagnostics and preventative health services.
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