Bremer Bank National Association Makes New Investment in Quest Diagnostics Incorporated (NYSE:DGX)

Bremer Bank National Association bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,161 shares of the medical research company's stock, valued at approximately $3,919,000.

Other large investors have also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at $33,000. NBC Securities Inc. purchased a new position in shares of Quest Diagnostics during the first quarter worth $35,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new stake in Quest Diagnostics during the 4th quarter worth about $54,000. Finally, Sandy Spring Bank grew its position in Quest Diagnostics by 142.5% during the 4th quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock worth $73,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Shares of NYSE:DGX traded up $0.24 during trading on Wednesday, reaching $173.83. The stock had a trading volume of 742,962 shares, compared to its average volume of 988,149. The business has a fifty day moving average price of $171.21 and a 200-day moving average price of $164.90. Quest Diagnostics Incorporated has a 1-year low of $135.47 and a 1-year high of $179.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The stock has a market cap of $19.41 billion, a PE ratio of 22.60, a PEG ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's payout ratio is currently 40.46%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Redburn Partners set a $195.00 price target on Quest Diagnostics in a report on Wednesday, April 2nd. Evercore ISI raised their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. Piper Sandler lifted their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Finally, Barclays boosted their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

Insiders Place Their Bets

In related news, SVP Michael E. Prevoznik sold 4,643 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the transaction, the senior vice president now directly owns 38,117 shares in the company, valued at approximately $6,479,890. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark E. Delaney sold 874 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the sale, the senior vice president now directly owns 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,263 shares of company stock valued at $7,979,355 in the last three months. 8.16% of the stock is currently owned by insiders.

Quest Diagnostics Company Profile

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.