Munich Reinsurance Co Stock Corp in Munich Makes New Investment in Quest Diagnostics Incorporated $DGX

Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,136 shares of the medical research company's stock, valued at approximately $2,770,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Key Financial Inc increased its stake in Quest Diagnostics by 1,728.6% in the first quarter. Key Financial Inc now owns 128 shares of the medical research company's stock worth $25,000 after purchasing an additional 121 shares during the period. Quattro Advisors LLC purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at $25,000. JFS Wealth Advisors LLC boosted its stake in shares of Quest Diagnostics by 114.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 150 shares of the medical research company's stock valued at $26,000 after purchasing an additional 80 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of Quest Diagnostics by 113.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 156 shares of the medical research company's stock worth $27,000 after purchasing an additional 83 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of Quest Diagnostics in the fourth quarter worth about $27,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Price Performance

Shares of DGX opened at $207.89 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.18. The company has a 50 day moving average price of $198.50 and a 200-day moving average price of $194.95. Quest Diagnostics Incorporated has a fifty-two week low of $164.65 and a fifty-two week high of $219.20. The stock has a market capitalization of $23.01 billion, a PE ratio of 22.97, a PEG ratio of 2.48 and a beta of 0.58.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.13. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. Quest Diagnostics's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 earnings per share. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. Equities analysts predict that Quest Diagnostics Incorporated will post 10.72 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, July 8th. Quest Diagnostics's payout ratio is presently 38.01%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $225.00 price objective on shares of Quest Diagnostics in a research report on Tuesday, April 21st. Evercore set a $225.00 target price on shares of Quest Diagnostics in a research report on Tuesday, April 21st. Truist Financial lifted their price target on shares of Quest Diagnostics from $220.00 to $225.00 and gave the company a "hold" rating in a research note on Wednesday, April 22nd. Barclays boosted their price target on Quest Diagnostics from $225.00 to $230.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Sunday, June 28th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $216.58.

Insiders Place Their Bets

In related news, CEO J. E. Davis sold 10,000 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $194.14, for a total transaction of $1,941,400.00. Following the completion of the sale, the chief executive officer directly owned 132,423 shares in the company, valued at $25,708,601.22. This represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of Quest Diagnostics stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $200.00, for a total value of $1,629,400.00. Following the completion of the transaction, the senior vice president owned 13,510 shares in the company, valued at $2,702,000. This trade represents a 37.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.88% of the company's stock.

Quest Diagnostics Profile

Quest Diagnostics NYSE: DGX is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.

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