Munich Reinsurance Co Stock Corp in Munich Invests $2.77 Million in Quest Diagnostics Incorporated $DGX

Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 14,136 shares of the medical research company’s stock, valued at approximately $2,770,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DGX. Norges Bank purchased a new stake in shares of Quest Diagnostics during the fourth quarter worth about $229,522,000. Boston Partners grew its position in Quest Diagnostics by 32.8% during the 3rd quarter. Boston Partners now owns 4,036,881 shares of the medical research company’s stock worth $767,978,000 after purchasing an additional 997,033 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in Quest Diagnostics by 66,757.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 849,752 shares of the medical research company’s stock worth $161,946,000 after purchasing an additional 848,481 shares during the last quarter. UBS Group AG increased its stake in Quest Diagnostics by 67.8% during the 4th quarter. UBS Group AG now owns 1,114,451 shares of the medical research company’s stock valued at $193,391,000 after purchasing an additional 450,161 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Quest Diagnostics by 36.3% during the 2nd quarter. Bank of America Corp DE now owns 1,599,602 shares of the medical research company’s stock valued at $287,337,000 after purchasing an additional 426,399 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 0.2%

NYSE:DGX opened at $207.89 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.18 and a quick ratio of 1.08. The company’s fifty day moving average price is $198.50 and its 200-day moving average price is $194.95. Quest Diagnostics Incorporated has a 1-year low of $164.65 and a 1-year high of $219.20. The firm has a market capitalization of $23.01 billion, a P/E ratio of 22.97, a PEG ratio of 2.48 and a beta of 0.58.

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

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued 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 38.01%.

Insider Transactions at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 8,147 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $200.00, for a total value of $1,629,400.00. Following the sale, the senior vice president owned 13,510 shares in the company, valued at $2,702,000. This represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $194.14, for a total value of $1,941,400.00. Following the sale, the chief executive officer directly owned 132,423 shares in the company, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DGX shares. Barclays lifted their price objective on shares of Quest Diagnostics from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Evercore set a $225.00 target price on Quest Diagnostics in a research note on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $225.00 price target on shares of Quest Diagnostics in a research report on Tuesday, April 21st. Robert W. Baird boosted their price target on Quest Diagnostics from $224.00 to $229.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.58.

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.