KBC Group NV reduced its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 77.7% during the second quarter, Holdings Channel reports. The fund owned 15,968 shares of the medical research company’s stock after selling 55,727 shares during the period. KBC Group NV’s holdings in Quest Diagnostics were worth $1,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Perkins Capital Management Inc. bought a new position in shares of Quest Diagnostics in the second quarter worth approximately $203,000. Victory Capital Management Inc. grew its holdings in shares of Quest Diagnostics by 5.2% in the second quarter. Victory Capital Management Inc. now owns 2,564,525 shares of the medical research company’s stock worth $281,944,000 after purchasing an additional 127,232 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Quest Diagnostics in the second quarter worth approximately $234,000. Trillium Asset Management LLC grew its holdings in shares of Quest Diagnostics by 4.1% in the second quarter. Trillium Asset Management LLC now owns 118,518 shares of the medical research company’s stock worth $13,030,000 after purchasing an additional 4,651 shares during the last quarter. Finally, Montag & Caldwell LLC bought a new position in shares of Quest Diagnostics in the second quarter worth approximately $36,503,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

NYSE:DGX opened at $111.44 on Monday. The firm has a market capitalization of $14.83 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.15 and a beta of 0.73. Quest Diagnostics Inc has a twelve month low of $90.10 and a twelve month high of $116.49. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.65.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 24th. The medical research company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.01). The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.95 billion. Quest Diagnostics had a net margin of 10.56% and a return on equity of 15.45%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. analysts predict that Quest Diagnostics Inc will post 6.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 22nd. Investors of record on Friday, October 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.79%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.04%.

Several research analysts have recently issued reports on DGX shares. Mizuho restated a “buy” rating on shares of Quest Diagnostics in a report on Friday, May 25th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, May 22nd. MED cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Deutsche Bank cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating and set a $108.00 target price on the stock. in a report on Wednesday, June 27th. Finally, Barclays restated a “hold” rating and issued a $120.00 target price on shares of Quest Diagnostics in a report on Monday, May 28th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Quest Diagnostics has an average rating of “Hold” and a consensus target price of $110.00.

In related news, Chairman Stephen H. Rusckowski sold 168,490 shares of Quest Diagnostics stock in a transaction on Friday, May 25th. The shares were sold at an average price of $107.00, for a total value of $18,028,430.00. Following the sale, the chairman now owns 359,559 shares in the company, valued at $38,472,813. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey M. Leiden sold 1,644 shares of Quest Diagnostics stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $105.61, for a total transaction of $173,622.84. Following the completion of the sale, the director now owns 6,000 shares in the company, valued at approximately $633,660. The disclosure for this sale can be found here. In the last quarter, insiders sold 340,064 shares of company stock worth $36,688,570. 1.79% of the stock is currently owned by company insiders.

About Quest Diagnostics

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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