Victory Capital Management Inc. Decreases Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Victory Capital Management Inc. lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 6.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,133,527 shares of the medical research company's stock after selling 226,459 shares during the quarter. Quest Diagnostics comprises approximately 0.5% of Victory Capital Management Inc.'s portfolio, making the stock its 19th biggest holding. Victory Capital Management Inc. owned 2.81% of Quest Diagnostics worth $530,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DGX. Bruce G. Allen Investments LLC raised its stake in Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Quest Diagnostics by 76.6% in the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Quest Diagnostics by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after purchasing an additional 118 shares during the last quarter. NBC Securities Inc. bought a new stake in Quest Diagnostics in the first quarter valued at $35,000. Finally, Continuum Advisory LLC boosted its holdings in Quest Diagnostics by 11,100.0% in the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after acquiring an additional 222 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

Insider Activity

In other news, SVP Mark E. Delaney sold 874 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the sale, the senior vice president directly owned 8,372 shares of the company's stock, valued at $1,471,127.84. This represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.16% of the stock is owned by company insiders.

Quest Diagnostics Price Performance

NYSE DGX traded down $1.41 during trading hours on Friday, reaching $166.77. The company's stock had a trading volume of 577,497 shares, compared to its average volume of 998,600. The firm's 50-day moving average price is $175.15 and its 200-day moving average price is $168.84. The company has a quick ratio of 1.31, a current ratio of 1.44 and a debt-to-equity ratio of 0.84. Quest Diagnostics Incorporated has a 1 year low of $137.71 and a 1 year high of $182.38. The company has a market capitalization of $18.62 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.33 and a beta of 0.49.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. Quest Diagnostics's dividend payout ratio (DPR) is 40.46%.

Analysts Set New Price Targets

DGX has been the subject of several recent research reports. Robert W. Baird raised their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Barclays lifted their price objective on Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 23rd. Redburn Partners set a $195.00 price target on Quest Diagnostics in a research note on Wednesday, April 2nd. Truist Financial boosted their price target on Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, April 23rd. Finally, Piper Sandler boosted their price target on Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $185.73.

About Quest Diagnostics

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.