Flossbach Von Storch SE Buys New Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Flossbach Von Storch SE acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,305 shares of the medical research company’s stock, valued at approximately $221,000.

Other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC lifted its position in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. First Horizon Advisors Inc. lifted 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. Golden State Wealth Management LLC lifted its holdings in shares of Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company’s stock worth $33,000 after acquiring an additional 118 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Quest Diagnostics in the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company’s stock worth $38,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the completion of the transaction, the senior vice president owned 8,372 shares of the company’s stock, valued at $1,471,127.84. This represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an “in-line” rating in a report on Wednesday, April 23rd. Mizuho raised their price target on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Robert W. Baird raised their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Truist Financial raised their price target on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, April 23rd. Finally, Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.73.

Quest Diagnostics Stock Down 0.7%

Shares of DGX opened at $172.69 on Wednesday. Quest Diagnostics Incorporated has a 52 week low of $136.99 and a 52 week high of $182.38. The company has a quick ratio of 1.31, a current ratio of 1.44 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.43 and a beta of 0.49. The stock’s 50-day moving average price is $176.29 and its 200-day moving average price is $168.16.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The firm also recently declared 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 of this dividend is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.85%. Quest Diagnostics’s dividend payout ratio is currently 40.46%.

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.