QUEST DIAGNOSTICS INC
In the published model solve dated 2026-Q2, anchored at $242.76, QUEST DIAGNOSTICS INC (DGX) is priced for -0.1% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Two customer relationships supplied roughly seven of the 10.8 percentage points of organic test-volume growth in the March 2026 quarter, and the same work pulled revenue per requisition down 1.3%, which is the trade this company is currently making [Source: Q1 2026 Form 10-Q]. • A price near 20 times trailing operating income assumes operating profit goes essentially nowhere for five years, so the burden of proof here sits with the bear rather than the bull. • Second-quarter results landed on
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1,031 institutional managers reported holding DGX in 13F filings for the quarter ended 2026-03-31. Together they hold about 88% of the company; the top 10 hold 45%. 104 opened new positions that quarter. Held by Vanguard Group, BlackRock, T. Rowe Price, among others. On the short side, 3.4M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (4.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
DGX has cut its share count 12% over the past five years, spending $2.60B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 15 years straight; the current rate is $1.80 a share annually. Cash returned over the past three years: $932.00M in dividends and $879.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at DGX over the trailing three years. Absence is a fact about the company, not a signal. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
DGX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-28 | -7.3% | -9.4% |
| 2023-10-26 | +3.3% | +4.9% |
| 2024-02-23 | -2.7% | +5.7% |
| 2024-04-25 | +5.7% | +1.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
DGX's latest 8-K filings: 2026-07-23 (items 2.02, 9.01); 2026-05-21 (items 5.07); 2026-05-08 (items 1.01, 9.01); 2026-05-01 (items 8.01, 9.01); 2026-04-21 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.