Quest Diagnostics Inc (DGX) is Victory Capital Management Inc.’s 8th Largest Position

Victory Capital Management Inc. boosted its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 4.3% in the third quarter, Holdings Channel reports. The fund owned 2,675,725 shares of the medical research company’s stock after buying an additional 111,200 shares during the quarter. Quest Diagnostics comprises about 0.6% of Victory Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Victory Capital Management Inc.’s holdings in Quest Diagnostics were worth $288,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. American Century Companies Inc. raised its position in Quest Diagnostics by 24.8% during the second quarter. American Century Companies Inc. now owns 2,962,056 shares of the medical research company’s stock worth $325,648,000 after acquiring an additional 589,197 shares during the last quarter. Allianz Asset Management GmbH raised its position in Quest Diagnostics by 8.3% during the first quarter. Allianz Asset Management GmbH now owns 2,326,398 shares of the medical research company’s stock worth $233,338,000 after acquiring an additional 178,041 shares during the last quarter. Northern Trust Corp raised its position in Quest Diagnostics by 0.6% during the second quarter. Northern Trust Corp now owns 2,048,599 shares of the medical research company’s stock worth $225,223,000 after acquiring an additional 11,848 shares during the last quarter. Bank of New York Mellon Corp raised its position in Quest Diagnostics by 57.3% during the second quarter. Bank of New York Mellon Corp now owns 1,781,373 shares of the medical research company’s stock worth $195,845,000 after acquiring an additional 648,706 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Quest Diagnostics by 7.3% during the second quarter. Acadian Asset Management LLC now owns 1,670,509 shares of the medical research company’s stock worth $183,655,000 after acquiring an additional 113,584 shares during the last quarter. Institutional investors own 86.11% of the company’s stock.

NYSE:DGX opened at $94.01 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.15 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $12.64 billion, a PE ratio of 17.41, a PEG ratio of 1.68 and a beta of 0.73. Quest Diagnostics Inc has a 1-year low of $90.31 and a 1-year high of $116.49.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.68. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.95 billion. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 earnings per share. Research analysts anticipate that Quest Diagnostics Inc will post 6.56 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 22nd. Stockholders of record on Friday, October 5th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Thursday, October 4th. Quest Diagnostics’s dividend payout ratio is presently 37.04%.

A number of brokerages have issued reports on DGX. Citigroup cut their target price on shares of Quest Diagnostics from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Argus set a $120.00 target price on shares of Quest Diagnostics and gave the stock a “buy” rating in a research report on Friday, September 14th. Credit Suisse Group lifted their target price on shares of Quest Diagnostics from $121.00 to $128.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. Canaccord Genuity cut their target price on shares of Quest Diagnostics from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Finally, William Blair restated an “outperform” rating on shares of Quest Diagnostics in a research report on Tuesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $111.13.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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

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