Analyst Consensus ?
ConsensusHold33 ratings
Bullish1236.4%
Neutral1854.5%
Bearish39.1%
Quest Diagnostics Incorporated · DGX · FY2026 Q2 · Calendar Q3 2026
Quest Diagnostics Beats on Volume and AI Automation, Raises Full-Year Guidance
Quest Diagnostics delivered a strong Q2 2026, beating consensus on both revenue and EPS with double-digit organic volume growth and higher tests per requisition. Management raised full-year guidance for the second consecutive quarter, reflecting momentum across physician, hospital, and consumer health channels. AI-driven automation and advanced diagnostic portfolios -- including Haystack MRD, cardiometabolic panels, and Genius digital pathology -- are increasingly contributing to both top-line growth and productivity gains.
Reported Before market openNYSEHealthcare
$25.96B market cap
100quality score
Company context
Snapshot as of publicationQuest Diagnostics Incorporated, founded in 1967 and headquartered in Secaucus, New Jersey, is a premier provider of diagnostic testing, information, and related services, serving clients both domestically and internationally. Its core business involves the development and provision of diverse diagnostic information services, such as routine, advanced clinical, and anatomic pathology testing. While primarily operating under the Quest Diagnostics brand, it also leverages specialized identities like AmeriPath, Dermpath Diagnostics, ExamOne, and Quanum to reach a broad spectrum of clients.…
Earnings scorecard
Reported versus consensus
Reported EPS
$3.12
Consensus $3
EPS surprise
+10.6%
Reported versus consensus
Reported revenue
$3.04B
Consensus $2.97B
Revenue surprise
+2.4%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$234.3Current
$125Low
$195.29Average
$260High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Jul 28, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 24, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jul 24, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 24, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 24, 2026 |
| Baird | Neutral | Neutral | Maintain | Jul 24, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Apr 8, 2026 |
| Jefferies | Buy | Buy | Maintain | Feb 11, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Feb 10, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Oct 27, 2025 |
| Leerink Partners | Outperform | Outperform | Maintain | Oct 21, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 23, 2025 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Dec 17, 2024 |
| B of A Securities | Buy | Buy | Maintain | Dec 13, 2024 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Feb 3, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Jan 25, 2023 |
| Keybanc | Overweight | Overweight | Maintain | Dec 13, 2021 |
| Argus Research | Buy | Hold | Upgrade | Oct 21, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | May 21, 2020 |
| CFRA | Hold | Strong Buy | Downgrade | Apr 22, 2020 |
| Bank of America | Neutral | Underperform | Upgrade | Dec 19, 2019 |
| Canaccord Genuity | Buy | Buy | Maintain | Jul 24, 2019 |
| Goldman Sachs | Sell | Neutral | Downgrade | Jul 15, 2019 |
| Argus | Hold | Buy | Downgrade | Jan 31, 2019 |
| William Blair | Outperform | Market Perform | Upgrade | Jun 8, 2018 |
| Raymond James | Market Perform | Outperform | Downgrade | Sep 25, 2017 |
| Jyske Bank | Sell | Sell | Maintain | Jun 24, 2016 |
| JMP Securities | Perform | Market Perform | Maintain | Mar 27, 2015 |
| ISI Group | Neutral | Neutral | Maintain | Nov 19, 2013 |
| Craig-Hallum | Buy | Buy | Maintain | Sep 19, 2013 |
| Maxim Group | Buy | Hold | Upgrade | Aug 8, 2013 |
| Oppenheimer | Underperform | Underperform | Maintain | Jan 28, 2013 |
| Macquarie | Neutral | Underperform | Upgrade | Nov 20, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $234.3. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Argus Research | Analyst unavailable | $260 | $235.34 | +11.0% | Jul 29, 2026 |
| UBS | Kevin Caliendo | $232 | $231.3 | -1.0% | Jul 24, 2026 |
| Robert W. Baird | Analyst unavailable | $255 | $227.9 | +8.8% | Jul 24, 2026 |
| Barclays | Analyst unavailable | $250 | $227.9 | +6.7% | Jul 23, 2026 |
| Jefferies | Analyst unavailable | $245 | $227.9 | +4.6% | Jul 23, 2026 |
| Robert W. Baird | Analyst unavailable | $236 | $207.44 | +0.7% | Jul 13, 2026 |
| Evercore ISI | Analyst unavailable | $225 | $205.18 | -4.0% | Apr 21, 2026 |
| Jefferies | Analyst unavailable | $225 | $205.18 | -4.0% | Apr 21, 2026 |
| Evercore ISI | Analyst unavailable | $210 | $198.81 | -10.4% | Apr 8, 2026 |
| Mizuho Securities | Analyst unavailable | $235 | $209.32 | +0.3% | Feb 12, 2026 |
| UBS | Analyst unavailable | $210 | $206.72 | -10.4% | Feb 11, 2026 |
| Truist Financial | Analyst unavailable | $220 | $205.62 | -6.1% | Feb 11, 2026 |
| Evercore ISI | Elizabeth Anderson | $220 | $205.43 | -6.1% | Feb 11, 2026 |
| Robert W. Baird | Analyst unavailable | $219 | $205.35 | -6.5% | Feb 11, 2026 |
| Jefferies | Tycho Peterson | $220 | $205.24 | -6.1% | Feb 10, 2026 |
| Barclays | Analyst unavailable | $210 | $182.35 | -10.4% | Jan 30, 2026 |
| Piper Sandler | Analyst unavailable | $200 | $182.18 | -14.6% | Oct 27, 2025 |
| Truist Financial | Analyst unavailable | $205 | $184.64 | -12.5% | Oct 22, 2025 |
| Morgan Stanley | Erin Wright | $207 | $183.18 | -11.7% | Oct 22, 2025 |
| Barclays | Analyst unavailable | $195 | $183.18 | -16.8% | Oct 22, 2025 |
| Jefferies | Analyst unavailable | $215 | $183.34 | -8.2% | Oct 21, 2025 |
| Leerink Partners | Analyst unavailable | $210 | $184.1 | -10.4% | Oct 21, 2025 |
| UBS | Kevin Caliendo | $190 | $186.82 | -18.9% | Oct 17, 2025 |
| Mizuho Securities | Analyst unavailable | $210 | $186.82 | -10.4% | Oct 17, 2025 |
| Truist Financial | Analyst unavailable | $195 | $184 | -16.8% | Oct 14, 2025 |
| Evercore ISI | Analyst unavailable | $190 | $181.89 | -18.9% | Oct 8, 2025 |
| Barclays | Analyst unavailable | $190 | $182.07 | -18.9% | Oct 2, 2025 |
| Robert W. Baird | Analyst unavailable | $194 | $178.66 | -17.2% | Aug 25, 2025 |
| Evercore ISI | Elizabeth Anderson | $185 | $170.48 | -21.0% | Jul 23, 2025 |
| Redburn Partners | Jamie Clark | $195 | $167.96 | -16.8% | Apr 2, 2025 |
| Piper Sandler | David Westenberg | $180 | $162.47 | -23.2% | Feb 3, 2025 |
| Truist Financial | David MacDonald | $182 | $163.1 | -22.3% | Jan 31, 2025 |
| Robert W. Baird | Eric Coldwell | $189 | $163.1 | -19.3% | Jan 31, 2025 |
| Citigroup | Patrick Donnelly | $185 | $157.47 | -21.0% | Oct 23, 2024 |
| Leerink Partners | Michael Cherny | $165 | $157.47 | -29.6% | Oct 23, 2024 |
| Barclays | Stephanie Davis | $168 | $157.47 | -28.3% | Oct 23, 2024 |
| Robert W. Baird | Eric Coldwell | $182 | $157.47 | -22.3% | Oct 23, 2024 |
| CFRA | Paige Meyer | $178 | $157.46 | -24.0% | Oct 22, 2024 |
| Truist Financial | David MacDonald | $165 | $150.79 | -29.6% | Oct 7, 2024 |
| Mizuho Securities | Ann Hynes | $160 | $143.21 | -31.7% | Jul 29, 2024 |
| Robert W. Baird | Eric Coldwell | $154 | $140.96 | -34.3% | Jul 24, 2024 |
| Truist Financial | David MacDonald | $158 | $144.11 | -32.6% | Jul 15, 2024 |
| Barclays | Stephanie Davis | $144 | $137.55 | -38.5% | Apr 25, 2024 |
| Jefferies | Brian Tanquilut | $155 | $127.42 | -33.8% | Feb 7, 2024 |
| Wells Fargo | Analyst unavailable | $140 | $143.29 | -40.2% | Feb 3, 2023 |
| Morgan Stanley | Analyst unavailable | $158 | $155.5 | -32.6% | Jan 6, 2023 |
| Citigroup | Analyst unavailable | $125 | $149.27 | -46.6% | Nov 17, 2022 |
| Morgan Stanley | Analyst unavailable | $142 | $136.13 | -39.4% | May 3, 2022 |
| Wells Fargo | Analyst unavailable | $150 | $133.75 | -36.0% | Apr 25, 2022 |
| Citigroup | Ralph Giacobbe | $175 | $140 | -25.3% | Apr 9, 2022 |
| Deutsche Bank | Pito Chickering | $190 | $142.3 | -18.9% | Jan 15, 2022 |
| KeyBanc | Donald Hooker | $170 | $161.75 | -27.4% | Dec 13, 2021 |
| Credit Suisse | A.J. Rice | $150 | $155.22 | -36.0% | Sep 9, 2021 |
Track every rating change on DGX the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+8.6%
Event window
SPY move
-1.2%
Same window
Abnormal move
+9.8%
Stock minus SPY
Volume
4.1×
Versus trailing sessions
Subsequent drift
+3.0%
Up to 20 sessions
DGXSPY benchmark
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What changed
Compared to Q1 2026, adjusted EPS growth accelerated to 19% from 13%, and revenue growth remained above 10%. New York State approved the Haystack tumor-informed MRD test, making Quest one of only two labs with this clearance, and the test was integrated with Flatiron Health's Onco EMR platform. The Genius AI-driven digital diagnostic system for Pap smear analysis was deployed to additional lab sites. Management now expects operating margin improvement in H2 as Project Nova expense timing clarifies.
Guidance delta
Full-year 2026 revenue guidance raised from $11.78-$11.9B (prior quarter) to $11.95-$12.05B, a $170M increase at the midpoint. Adjusted EPS guidance raised from $9.58-$9.78 to $9.97-$10.17, a $0.39 increase at the midpoint. Capex guidance now explicitly stated at $550M. The company has raised guidance in both Q1 and Q2 of fiscal 2026.
Key takeaways
- Q2 revenue grew 10.2% YoY with adjusted EPS up 19%, reflecting strong volume and higher tests per requisition.
- Full-year 2026 guidance raised to $11.95-$12.05 billion revenue and $9.97-$10.17 EPS; capex forecast at $550 million.
- Growth driven by physician, hospital (Corewell Health, Fresenius), and consumer health channels, plus advanced diagnostic offerings.
- AI, automation, and the Invigorate cost-savings program target 3% annual savings and productivity gains.
- Margin pressure from Nova expenses, Corewell/Fresenius mix, and fuel costs, but operating margin expected to improve in H2.
Management priorities
- Roll out AI-driven tools like Genius and IntelliDraw to additional lab sites.
- Commercially expand Haystack MRD through Flatiron Health and broader oncology networks.
- Scale Corewell Co-Lab partnership into a joint venture in early 2027.
- Introduce new consumer health panels including thyroid and wellness biomarkers.
- Maintain capex around $550 million to support technology and automation initiatives.
Related earnings events
HealthcareSources
- Earnings call transcript and parsed analysis · 2026-07-23T17:03:49.960972+00:00
- FN2 earnings calendar · 2026-07-30T01:23:13.872335+00:00
- Polygon adjusted daily market bars · 2026-07-30T19:21:09.546521+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T19:21:09.543757+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.