Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.44, read 2026-11-02
Ethical does not pass the values gate
Price255.63 USD
Fair value258.83
Ethical score10.0/100
Value readFairas of 6 Nov 2026
Our investment reviews on this name
2026-10-29Read Accumulation241.89+5.7% to today ✓Distribution gives way to Accumulation
2026-10-15Read Distribution230.97+10.7% to today Markup gives way to Distribution first Distribution read since October
2026-10-11Read Markup237.62+7.6% to today ✓Distribution gives way to Markup
2026-10-02Read Distribution237.62+7.6% to today Accumulation gives way to Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Quest Diagnostics holds its Markup at $255.63. Consolidating, no directional conviction, held for 69 days.
As held on the ledger · 2026-11-06
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 69 days
Price at the screen
$255.63
Valuation
25.08 trailing · 21.02 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.54
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
40.59%
Below 33%
Interest-bearing debt is 40.6% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.84%
Below 33%
Cash held in interest-bearing accounts and securities is 0.8% of assets, under the one-third limit.
Pass
Receivables
11.27%
Below 49%
Money owed to the company is 11.3% of assets, under the 49% limit.
Pass
Revenue purity
0.12%
Below 5%
Only 0.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Quest Diagnostics's business is in a permissible area, but its interest-bearing debt is about 41% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
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Today DGX does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 6 Nov 2026: it trades at roughly a 1% discount to our $258.83 fair value, narrow competitive moat, 10.00% revenue growth.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. A 1.2% discount to the base estimate.
Where our models see it going: fair-value estimate $258.83, with a range of $211.50 to $322.07, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Quest Diagnostics trips on its own debt
Picture a routine blood test or cancer screen, the kind millions rely on each year. Quest runs those labs across the US and pulls in steady demand, yet the business still fails our ethical screen on debt ratio. That single red flag is enough to keep us away even though revenue is growing 9 percent and ROE sits at 15 percent.
We pass because the ethical test comes first. A narrow moat and forward P/E of 18.1 times do not change the fact that leverage sits outside our limits. Analyst chatter and a modest gap to fair value cannot override that hard rule.
The real risk is that high debt leaves little room if volumes soften or reimbursement rates tighten. A 9 percent profit margin offers thin protection in a sector where pricing pressure never really goes away. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DGX trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Accumulation$255.68+5.7%Entry 17
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 5.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223.
2026-10-22Distribution$235.00+0.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Distribution$235.00+0.0%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Distribution$235.00+0.0%Entry 13
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Distribution$235.00+0.0%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Distribution$235.00+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Distribution$235.00-1.7%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Distribution$239.15+3.5%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 3.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (16 analysts) rates it buy, with a mean price target of $223. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
