Victory Capital Management Inc. Purchases 32,264 Shares of Quest Diagnostics Inc (DGX)

Victory Capital Management Inc. increased its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 1.1% in the 1st quarter, HoldingsChannel reports. The fund owned 2,843,301 shares of the medical research company’s stock after buying an additional 32,264 shares during the quarter. Quest Diagnostics comprises about 0.6% of Victory Capital Management Inc.’s holdings, making the stock its 14th biggest position. Victory Capital Management Inc.’s holdings in Quest Diagnostics were worth $255,670,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Legacy Financial Advisors Inc. bought a new position in Quest Diagnostics during the fourth quarter valued at about $45,000. Benjamin F. Edwards & Company Inc. raised its holdings in Quest Diagnostics by 32.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after buying an additional 134 shares in the last quarter. Stevens First Principles Investment Advisors bought a new position in Quest Diagnostics during the first quarter valued at about $51,000. Doyle Wealth Management bought a new position in Quest Diagnostics during the fourth quarter valued at about $48,000. Finally, First Personal Financial Services raised its holdings in Quest Diagnostics by 57.1% during the first quarter. First Personal Financial Services now owns 655 shares of the medical research company’s stock valued at $59,000 after buying an additional 238 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.

In related news, SVP Michael E. Prevoznik sold 336 shares of Quest Diagnostics stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $88.23, for a total transaction of $29,645.28. Following the sale, the senior vice president now directly owns 42,108 shares of the company’s stock, valued at $3,715,188.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP J. E. Davis sold 47,574 shares of Quest Diagnostics stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $95.00, for a total value of $4,519,530.00. Following the sale, the executive vice president now directly owns 84,108 shares in the company, valued at $7,990,260. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,680 shares of company stock worth $12,454,759. 1.86% of the stock is owned by company insiders.

Several research firms have weighed in on DGX. Zacks Investment Research lowered Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Canaccord Genuity raised their price target on Quest Diagnostics from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Argus downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Piper Jaffray Companies lowered their price target on Quest Diagnostics from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 14th. Finally, UBS Group set a $91.00 price target on Quest Diagnostics and gave the company a “hold” rating in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $102.12.

DGX stock traded down $0.74 during trading on Friday, reaching $98.00. 4,753 shares of the stock were exchanged, compared to its average volume of 1,314,288. Quest Diagnostics Inc has a twelve month low of $78.95 and a twelve month high of $116.49. The company has a market cap of $13.16 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.04. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business earned $152.00 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities research analysts anticipate that Quest Diagnostics Inc will post 6.48 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, April 5th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 33.60%.

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About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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