State Street Corp. Maintains Passive Stake in Quest Diagnostics

TL;DR

**State Street is still holding Quest Diagnostics shares, signaling institutional confidence.**

AI Summary

State Street Corporation, a major financial institution, filed an amended Schedule 13G/A on January 25, 2024, indicating its ownership of Quest Diagnostics Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued passive investment in Quest Diagnostics. For investors, this means a significant institutional holder maintains its position, which can be a sign of confidence in the company's long-term prospects, potentially reducing volatility.

Why It Matters

This filing confirms a major institutional investor, State Street Corporation, continues to hold shares in Quest Diagnostics, signaling ongoing confidence in the company's stability and future performance.

Risk Assessment

Risk Level: low — This is a routine update from a large institutional investor, indicating a passive stake, which generally poses low risk to the stock.

Analyst Insight

Investors should note that a major institutional holder, State Street, is maintaining its position, which suggests stability. This filing doesn't indicate any immediate catalysts but confirms continued institutional interest.

Key Players & Entities

• State Street Corporation (company) — the reporting person and institutional investor
• Quest Diagnostics Inc. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 25, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• State Street Corporation will likely maintain its passive investment in Quest Diagnostics Inc. for the foreseeable future. (State Street Corporation) — high confidence, target: 2025-12-31

FAQ

From the Filing

0000093751-24-000253.txt : 20240125 0000093751-24-000253.hdr.sgml : 20240125 20240125121640 ACCESSION NUMBER: 0000093751-24-000253 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240125 DATE AS OF CHANGE: 20240125 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: QUEST DIAGNOSTICS INC CENTRAL INDEX KEY: 0001022079 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MEDICAL LABORATORIES [8071] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 161387862 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-50905 FILM NUMBER: 24560481 BUSINESS ADDRESS: STREET 1: 500 PLAZA DRIVE CITY: SECAUCUS STATE: NJ ZIP: 07094 BUSINESS PHONE: 9735202700 MAIL ADDRESS: STREET 1: 500 PLAZA DRIVE CITY: SECAUCUS STATE: NJ ZIP: 07094 FORMER COMPANY: FORMER CONFORMED NAME: CORNING CLINICAL LABORATORIES INC DATE OF NAME CHANGE: 19960903 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 Quest_Diagnostics_Inc.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 EXIT FILING QUEST DIAGNOSTICS INC (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 74834L100 (CUSIP NUMBER) 12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: (X) RULE 13D-1 (B) ( ) RULE 13D-1 (C) ( ) RULE 13D-1 (D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON`S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). CUSIP NO:74834L100 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 3,346,599 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 5,330,112 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,352,341 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 4.76% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 74834L100 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER QUEST DIAGNOSTICS INC (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 500 PLAZA DRIVE SECAUCUS NJ 07094 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE 1 BOSTON, MA 02114-2016 (FOR ALL REPORTING PERSONS) (C) CITIZENSHIP: SEE ITEM 4 (CITIZENSHIP OR PLACE OF