Quest Diagnostics Incorporated (DGX): analysis and signal as of September 8, 2026

Published on September 2, 2026 at 21:33 · Updated on September 8, 2026 at 00:59 · by Aurélien Ambert, QDNA

Exchange : NYSE · Sector : Health Services (Laboratory Diagnostics)

In short

The signal is moderate with a vote of 3/3 and a score of 1,5. The main reason is the confirmation of double-digit organic growth and the raise of the annual guidance despite stretched valuation.

Current signal: moderate (vote 3/3)
Deterministic score: +1.5 → signal expected by the scale : moderate (September 10, 2026)
Layers: fundamentals : positive, price : positive, risks : –

Triggered rules

Rule	Weight
favors robust fundamental health (high Piotroski F-Score)	+1.5
penalizes direct holding of US securities in a CTO (US estate tax at death), favors a UCITS ETF domiciled in IE	-1.0
moderately favors an asset with robust operating profitability (RMW factor), cross-check with accounting quality (possible manipulation)	+0.5
moderately favors a positive 12-1 month momentum (tailwind), BUT guardrail: costly rotation, long-term reversal, momentum crashes, a conviction signal, not a rotation trigger	+0.5

Thesis

Quest Diagnostics delivered double-digit organic growth (10,0 % T2 2026) and raised its annual guidance (revenue 11,78 to 11,90 Md USD, EPS 10,63 to 10,83 USD). The PER of 25,10x is stretched vs the 5-year average (18,57x), the analyst consensus (235,31 USD) is below the price (240,15 USD), and the Cboe risk regime is in COMPLAISANCE (VIX9D/VIX3M 11,97/17,61). Valuation has already priced in the growth, the margin of safety is low.

Bull case

T2 2026 reported on 23/07/2026: revenue 3,04 Md USD (+10,2 %), diluted EPS 2,84 USD (+15,0 %), annual guidance raised (revenue +4,5 to +5,5 %, EPS 24,25 to 24,55), share buyback of 1,0 Md USD approved on 10/02/2026. The EXPANSION macro regime (0,58) favors defensive healthcare.

Bear case

PER 25,10x (01/09/2026) vs 5-year average 18,57x, EV/EBITDA 13,95 vs 5-year average 11,51, price 240,15 USD at all-time high, analyst consensus 235,31 USD below the price, COMPLAISANCE regime (low coverage, VIX slope -32 %), short interest 3,02 % but variation -9,8 % vs previous settlement (easing).

Scenarios

Bull scenario at 30 % with a target of 250 USD (median of 17 Tickernerd analysts, 12 months). Central scenario between 235 and 240 USD (MarketBeat consensus, consolidation). Bear scenario at 25 % with a max loss of -18 % or -43 USD toward 197 USD if MM200 breakdown is confirmed.

Risks

Valuation is stretched with a PER of 25,10x against an average of 18,57x. The analyst consensus of 235,31 USD is below the current price of 240,15 USD. The risk regime is in COMPLAISANCE with a VIX slope of -32 %. Short interest is at 3,02 % with a variation of -9,8 %.

Market positioning (short sellers)

Short interest / shares outstanding: 3.02 %
Days to cover: 4.67
Settlement date: 2026-08-14
Source: FINRA (disseminated on 2026-08-26)

Market information published by FINRA (consolidated short interest, all venues), no directional comment.

Upcoming catalysts

Date	Description
October 22, 2026	Resultats T3 2026 attendus fin octobre 2026

Signal history (last 12 months)

Date	Signal	New fact
September 8, 2026	moderate (3/3)	fact NOUVEAU date: T2 2026 reported on 23/07/2026 (revenue 3,04 Md USD +10,2 %, EPS 2,84 USD +15,0 %, guidance raised revenue 11,78 to 11,90 Md USD, EPS 10,63 to 10,83 USD) + price 240,15 USD at all-time high (vs 237,14 USD on 04/09/2026 at last verdict) + PER 25,10x vs 19,78x at last verdict (stretched valuation) + short interest 3,02 % vs 0,69 % at last verdict (easing -9,8 %). The SIGNAL moves from weak to moderate because the new fact T2 confirms the bull thesis (EPS beat + guidance re
September 2, 2026	weak (2/3)	not published
August 31, 2026	weak (single draw, outside the three-draw protocol)	unchanged

Frequently asked questions

What is the signal issued for Quest Diagnostics?

The signal is moderate with a vote of 3/3 and a score of 1.5. This signal stems from the confirmation of double-digit organic growth and the raise of the annual guidance. Valuation remains stretched with a PER of 25.10x. The analyst consensus is below the current price. The risk regime is in compliance.

What are the key figures for T2 2026?

T2 2026 revenue stands at 3.04 Md USD with a progression of 10.2 %. Diluted EPS reaches 2.84 USD, up 15.0 %. The annual guidance was raised with revenue of 11.78 to 11.90 Md USD. EPS is adjusted between 10.63 and 10.83 USD. These results confirm the growth dynamic.

Why is the valuation considered stretched?

The PER of 25.10x largely exceeds the 5-year average of 18.57x. EV/EBITDA is at 13.95 against 11.51 on average. The price of 240.15 USD is an all-time high. The analyst consensus of 235.31 USD is below the price. The margin of safety is low given these levels.

What are the possible price scenarios?

The bull scenario targets 250 USD with a probability of 30 %. The central scenario sits between 235 and 240 USD with a consolidation probability. The bear scenario anticipates a drop of 25 % toward 197 USD. This drop corresponds to a max loss of -18 %. A breakdown of the MM200 would confirm this move.

What are the main identified risks?

The main risk is the stretched valuation with a PER of 25.10x. The analyst consensus of 235.31 USD is below the price of 240.15 USD. The risk regime is in compliance with a VIX slope of -32 %. Short interest is at 3.02 % with a variation of -9.8 %. These factors limit the margin of safety.

Sources

The official filings below are the issuer's own, matched to this stock by its identifier (LEI, CIK or ISIN). The figures quoted above come from an automated arbitration: they have not been re-checked one by one.

July 23, 2026 — 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits (SEC · 8-K)
July 23, 2026 — 10-Q (SEC · 10-Q)
May 21, 2026 — 5.07 Submission of Matters to a Vote of Security Holders (SEC · 8-K)
May 1, 2026 — 8.01 Other Events; 9.01 Financial Statements and Exhibits (SEC · 8-K)

Automated AI analysis: limitations and transparency

This content is an automated analysis produced using artificial intelligence. Personal analysis for information purposes — no personalised investment advice. MMR content consists of general research. It does not take account of your financial circumstances, objectives or risk tolerance. Data, analyses and results, including those produced using artificial intelligence, may contain errors, be incomplete or become outdated. No return or outcome is guaranteed. All investments carry a risk of partial or total loss of capital. Past performance and simulations do not predict future results. Before making any decision, check information against original sources and, where necessary, consult an authorised professional. You remain responsible for your investment decisions. This notice does not exclude or limit any liability that cannot legally be excluded or limited.
Tool and analysis: QDNA, Aurélien Ambert.
Analysis (arbitration) completed on September 8, 2026; this page was completed on September 8, 2026 at 00:59 (UTC).
Interests: no position in the stock analysed (DGX) is recorded in the data consulted on September 12, 2026 (UTC). This does not confirm the absence of holdings or other interests. The situation at the analysis publication date has not been reconstructed.
This declaration covers only recorded positions in this stock; it is not an exhaustive verification of other interests or remuneration.
Methodology: analysis chain, score formula and scale described on the public methodology page.
Analysis horizon: 2035.