M&T Bank Corp Purchases 3,420 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

M&T Bank Corp increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,077 shares of the medical research company’s stock after acquiring an additional 3,420 shares during the quarter. M&T Bank Corp’s holdings in Quest Diagnostics were worth $2,275,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sierra Ocean LLC bought a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $33,000. Versant Capital Management Inc raised its stake in shares of Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after acquiring an additional 194 shares in the last quarter. First Financial Corp IN acquired a new position in Quest Diagnostics during the 4th quarter valued at approximately $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics during the 4th quarter valued at approximately $45,000. Finally, Global Trust Asset Management LLC acquired a new position in Quest Diagnostics during the 4th quarter valued at approximately $49,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $175.49 on Monday. The company’s fifty day moving average price is $161.74 and its 200 day moving average price is $157.63. Quest Diagnostics Incorporated has a 1 year low of $125.09 and a 1 year high of $178.09. The company has a market capitalization of $19.48 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.82%. Quest Diagnostics’s dividend payout ratio is 41.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Leerink Partnrs upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird set a $189.00 price target on shares of Quest Diagnostics in a research note on Friday, January 31st. Truist Financial upped their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Mizuho upped their price target on shares of Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.23.

Insider Buying and Selling

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 535 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total transaction of $90,794.85. Following the transaction, the executive vice president now directly owns 71,356 shares of the company’s stock, valued at $12,109,826.76. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 528 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $172.61, for a total transaction of $91,138.08. Following the transaction, the senior vice president now directly owns 39,031 shares in the company, valued at approximately $6,737,140.91. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,514 shares of company stock valued at $1,634,445. Corporate insiders own 0.79% of the company’s stock.

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.