Victory Capital Management Inc. Raises Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Victory Capital Management Inc. boosted its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,476,628 shares of the medical research company's stock after purchasing an additional 62,114 shares during the quarter. Quest Diagnostics comprises about 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 18th largest holding. Victory Capital Management Inc. owned about 3.09% of Quest Diagnostics worth $479,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Quest Diagnostics by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company's stock worth $243,884,000 after buying an additional 538,377 shares during the period. American Century Companies Inc. raised its position in shares of Quest Diagnostics by 12.3% during the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company's stock worth $433,153,000 after purchasing an additional 388,162 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Quest Diagnostics by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company's stock valued at $318,517,000 after purchasing an additional 333,947 shares in the last quarter. Pathstone Family Office LLC grew its position in shares of Quest Diagnostics by 2,400.9% in the 3rd quarter. Pathstone Family Office LLC now owns 336,521 shares of the medical research company's stock valued at $41,008,000 after purchasing an additional 323,065 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $30,869,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a "neutral" rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a research note on Thursday, April 25th. UBS Group increased their target price on Quest Diagnostics from $139.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, April 24th. Mizuho boosted their price target on Quest Diagnostics from $150.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a "hold" rating to a "buy" rating and increased their price objective for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $146.17.

Quest Diagnostics Stock Down 0.5 %

Shares of Quest Diagnostics stock traded down $0.63 on Wednesday, reaching $137.55. 676,618 shares of the company were exchanged, compared to its average volume of 1,074,200. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $145.58. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $129.69 and a 200 day moving average of $131.53. The company has a market capitalization of $15.28 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 3.03 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.29 billion. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.04 earnings per share. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, April 5th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.71. Quest Diagnostics's payout ratio is 38.22%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 5,611 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the transaction, the senior vice president now directly owns 38,478 shares in the company, valued at approximately $4,843,610.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company's stock, valued at approximately $5,071,584.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now owns 38,478 shares of the company's stock, valued at $4,843,610.64. The disclosure for this sale can be found here. Insiders have sold 16,910 shares of company stock worth $2,159,602 over the last 90 days. Company insiders own 0.79% of the company's stock.

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.