Victory Capital Management Inc. Has $537.84 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Victory Capital Management Inc. cut its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 10.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,464,356 shares of the medical research company’s stock after selling 419,365 shares during the quarter. Quest Diagnostics accounts for about 0.5% of Victory Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. Victory Capital Management Inc. owned about 3.10% of Quest Diagnostics worth $537,841,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC bought a new position in Quest Diagnostics during the second quarter worth about $26,000. Larson Financial Group LLC boosted its position in Quest Diagnostics by 77.5% during the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Innealta Capital LLC acquired a new position in Quest Diagnostics in the 2nd quarter valued at about $31,000. TruNorth Capital Management LLC bought a new position in shares of Quest Diagnostics during the second quarter worth approximately $33,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Quest Diagnostics during the second quarter worth $35,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 0.7 %

DGX stock traded up $1.17 during midday trading on Tuesday, hitting $161.34. The company had a trading volume of 133,738 shares, compared to its average volume of 912,408. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. Quest Diagnostics Incorporated has a 52 week low of $123.04 and a 52 week high of $162.48. The stock’s 50 day moving average price is $153.59 and its 200 day moving average price is $146.91. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.75 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $2.22 EPS. Quest Diagnostics’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were issued a $0.75 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.00 annualized dividend and a yield of 1.86%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.

Wall Street Analyst Weigh In

DGX has been the topic of a number of research analyst reports. Citigroup raised their target price on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Baird R W upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Barclays increased their target price on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. UBS Group raised their price target on Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $164.58.

Insider Activity

In other news, SVP Karthik Kuppusamy sold 1,775 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now directly owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Michael J. Deppe sold 18,755 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the transaction, the senior vice president now owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,520 shares of company stock worth $3,472,728 in the last quarter. 0.79% of the stock is owned by company insiders.

Quest Diagnostics Company 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.