Bryn Mawr Capital Management LLC Invests $337,000 in Quest Diagnostics Incorporated (NYSE:DGX)

Bryn Mawr Capital Management LLC 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 13F filing with the Securities & Exchange Commission. The fund bought 1,991 shares of the medical research company's stock, valued at approximately $337,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its position in Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after purchasing an additional 82 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Quest Diagnostics by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock worth $3,047,000 after buying an additional 1,566 shares during the last quarter. Brown Advisory Inc. lifted its stake in Quest Diagnostics by 2.2% in the first quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company's stock valued at $1,198,000 after purchasing an additional 150 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Quest Diagnostics by 10.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company's stock worth $2,439,000 after purchasing an additional 1,348 shares during the period. Finally, Perigon Wealth Management LLC bought a new position in shares of Quest Diagnostics in the first quarter worth $221,000. Institutional investors own 88.06% of the company's stock.

Insider Buying and Selling at Quest Diagnostics

In related news, 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 completion of the transaction, the senior vice president directly owned 8,372 shares of the company's stock, valued at $1,471,127.84. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.16% of the company's stock.

Quest Diagnostics Price Performance

DGX stock traded down $1.39 during trading on Friday, hitting $166.79. The company had a trading volume of 1,557,274 shares, compared to its average volume of 1,003,691. Quest Diagnostics Incorporated has a fifty-two week low of $137.71 and a fifty-two week high of $182.38. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 2.33 and a beta of 0.49. The business has a 50 day moving average of $174.95 and a 200 day moving average of $169.08.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. As a group, research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current 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 given a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics's payout ratio is currently 40.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DGX. Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. 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 research note on Monday, April 28th. Redburn Atlantic began coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 target price on the stock. Mizuho boosted their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Barclays upped their price target on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $186.07.

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.