First American Trust FSB Buys New Position in Quest Diagnostics Incorporated (NYSE:DGX)

First American Trust FSB bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,197 shares of the medical research company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DGX. Bruce G. Allen Investments LLC raised its position in Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after buying an additional 67 shares during the last quarter. First Horizon Advisors Inc. raised its position in Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock valued at $32,000 after buying an additional 82 shares during the last quarter. Golden State Wealth Management LLC raised its position in 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 valued at $33,000 after buying an additional 118 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Quest Diagnostics during the 1st quarter worth approximately $35,000. Finally, Continuum Advisory LLC increased its position in shares of Quest Diagnostics by 11,100.0% during the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company’s stock worth $38,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $177.09 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. The stock’s fifty day moving average price is $174.20 and its two-hundred day moving average price is $171.19. Quest Diagnostics Incorporated has a one year low of $146.17 and a one year high of $182.38. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 2.35 and a beta of 0.46.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%. Quest Diagnostics’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.35 EPS. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, July 7th. Quest Diagnostics’s dividend payout ratio is 38.32%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DGX. William Blair reaffirmed an “outperform” rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Piper Sandler boosted their price target on Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Wall Street Zen lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Sunday. Evercore ISI set a $185.00 price target on Quest Diagnostics in a research report on Wednesday, July 23rd. Finally, Robert W. Baird boosted their price target on Quest Diagnostics from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.00.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 2,210 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $170.00, for a total value of $375,700.00. Following the sale, the senior vice president directly owned 8,450 shares of the company’s stock, valued at $1,436,500. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Patrick Plewman sold 5,535 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the sale, the senior vice president directly owned 19,219 shares in the company, valued at $3,363,325. This trade represents a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,014 shares of company stock worth $2,728,556. 8.16% of the stock is currently owned by insiders.

Quest Diagnostics 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.