SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GRANT WILLIAM R

(Last)

(First)

(Middle)

C/O QUEST DIAGNOSTICS INCORPORATED

1290 WALL STREET WEST

(Street)

LYNDHURST

07071

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
QUEST DIAGNOSTICS INC [ DGX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/23/2007		M		10,531	A	$29.5262	13,865⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		440	A	$29.72	14,305⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		362	A	$30.03	14,667⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		482	A	$30.285	15,149⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		20,000	A	$30.455	35,149⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		766	A	$30.525	35,915⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		350	A	$31.055	36,265⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		816	A	$31.72	37,081⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		312	A	$34.72	37,393⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		304	A	$35.6925	37,697⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		638	A	$36.595	38,335⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		292	A	$37.2625	38,627⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		264	A	$41.205	38,891⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		552	A	$41.32	39,443⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		262	A	$41.345	39,705⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		826	A	$42.415	40,531⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		13,333	A	$42.625	53,864⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		698	A	$44.185	54,562⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		20,000	A	$47.465	74,562⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		952	A	$47.9375	75,514⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		958	A	$50.655	76,472⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		985	A	$51.46	77,457⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		M		877	A	$51.565	78,334⁽¹⁾⁽²⁾	D
Common Stock	02/23/2007		S		75,000	D	$52.3618	3,334⁽¹⁾⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to buy)	$29.5262	02/23/2007		M			10,531	05/08/2002	05/08/2011	Common Stock	10,531	$29.5262	9,469	D
Stock Options (Right to buy)	$29.72	02/23/2007		M			440	10/01/2000	10/01/2010	Common Stock	440	$29.72	0	D
Stock Options (Right to buy)	$30.03	02/23/2007		M			362	10/01/2001	10/01/2011	Common Stock	362	$30.03	0	D
Stock Options (Right to buy)	$30.285	02/23/2007		M			482	04/01/2003	04/01/2013	Common Stock	482	$30.282	0	D
Stock Options (Right to buy)	$30.455	02/23/2007		M			20,000	05/13/2004	05/13/2013	Common Stock	20,000	$30.455	0	D
Stock Options (Right to buy)	$30.525	02/23/2007		M			766	10/01/2003	10/01/2013	Common Stock	766	$30.525	0	D
Stock Options (Right to buy)	$31.055	02/23/2007		M			350	10/01/2002	10/01/2012	Common Stock	350	$31.055	0	D
Stock Options (Right to buy)	$31.72	02/23/2007		M			816	07/01/2003	07/01/2013	Common Stock	816	$31.72	0	D
Stock Options (Right to buy)	$34.72	02/23/2007		M			312	01/01/2002	01/01/2011	Common Stock	312	$34.72	0	D
Stock Options (Right to buy)	$35.6925	02/23/2007		M			304	01/01/2002	01/01/2012	Common Stock	304	$35.6925	0	D
Stock Options (Right to buy)	$36.595	02/23/2007		M			638	01/01/2004	01/01/2014	Common Stock	638	$36.595	0	D
Stock Options (Right to buy)	$37.2625	02/23/2007		M			292	06/29/2002	06/29/2011	Common Stock	292	$37.2625	0	D
Stock Options (Right to buy)	$41.205	02/23/2007		M			264	07/01/2002	07/01/2012	Common Stock	264	$41.205	0	D
Stock Options (Right to buy)	$41.32	02/23/2007		M			552	04/01/2004	04/01/2014	Common Stock	552	$41.32	0	D
Stock Options (Right to buy)	$41.345	02/23/2007		M			262	04/01/2002	04/01/2012	Common Stock	262	$41.345	0	D
Stock Options (Right to buy)	$42.415	02/23/2007		M			826	07/01/2004	07/01/2014	Common Stock	826	$42.415	0	D
Stock Options (Right to buy)	$42.625	02/23/2007		M			13,333	05/04/2005	05/04/2014	Common Stock	13,333	$42.625	6,667	D
Stock Options (Right to buy)	$44.185	02/23/2007		M			698	10/01/2004	10/01/2014	Common Stock	698	$44.185	0	D
Stock Options (Right to buy)	$47.465	02/23/2007		M			20,000	05/07/2003	05/07/2012	Common Stock	20,000	$47.465	0	D
Stock Options (Right to buy)	$47.9375	02/23/2007		M			952	01/01/2005	01/01/2015	Common Stock	952	$47.9375	0	D
Stock Options (Right to buy)	$50.655	02/23/2007		M			958	10/01/2005	10/01/2012	Common Stock	958	$50.655	0	D
Stock Options (Right to buy)	$51.565	02/23/2007		M			877	01/01/2006	01/01/2013	Common Stock	877	$51.565	0⁽³⁾	D

Explanation of Responses:

1. The sale price of these shares represents an average sales price.

2. Reporting Person will retire as a Director of Quest Diagnostics on May 8, 2007, when his current term expires.

3. Additional transaction: 2/23/07 - M (stock option exercise) 985 shares at $51.46. Exercisable: 4-1-2006; termination date - 4-1-2013.

	Leo C. Farrenkopf. Jr., atty-in-fact for William R. Grant	02/27/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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