QuidelOrtho Co. Forecasted to Post Q3 2024 Earnings of $0.80 Per Share (NASDAQ:QDEL)

QuidelOrtho Co. (NASDAQ:QDEL) – Investment analysts at William Blair upped their Q3 2024 earnings per share (EPS) estimates for QuidelOrtho in a report issued on Thursday, April 18th. William Blair analyst A. Brackmann now anticipates that the company will earn $0.80 per share for the quarter, up from their prior forecast of $0.66. William Blair has a “Market Perform” rating on the stock. The consensus estimate for QuidelOrtho’s current full-year earnings is $2.36 per share. William Blair also issued estimates for QuidelOrtho’s FY2024 earnings at $2.39 EPS and FY2025 earnings at $3.44 EPS.

Several other equities research analysts have also commented on QDEL. Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Royal Bank of Canada decreased their target price on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Raymond James reiterated an “outperform” rating and set a $76.00 target price (down previously from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered QuidelOrtho from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $66.00 to $37.00 in a research report on Wednesday, February 14th. Finally, UBS Group reiterated a “sell” rating and set a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.60.

QuidelOrtho Trading Up 2.2 %

QuidelOrtho stock opened at $39.12 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. QuidelOrtho has a 12 month low of $37.78 and a 12 month high of $95.02. The stock’s 50 day simple moving average is $45.90 and its two-hundred day simple moving average is $60.80. The firm has a market cap of $2.62 billion, a PE ratio of -244.50 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The firm had revenue of $742.60 million during the quarter, compared to analysts’ expectations of $796.91 million. During the same quarter in the prior year, the company earned $1.74 EPS. QuidelOrtho’s quarterly revenue was down 14.3% on a year-over-year basis.

Insider Activity at QuidelOrtho

In other news, CFO Joseph M. Busky acquired 2,150 shares of QuidelOrtho stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $46.35 per share, with a total value of $99,652.50. Following the purchase, the chief financial officer now owns 2,150 shares in the company, valued at $99,652.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of QuidelOrtho

Hedge funds and other institutional investors have recently modified their holdings of the stock. Money Concepts Capital Corp increased its stake in shares of QuidelOrtho by 66.8% in the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of QuidelOrtho by 109.0% in the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after acquiring an additional 181 shares during the last quarter. Eagle Bay Advisors LLC increased its stake in shares of QuidelOrtho by 174.2% in the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after acquiring an additional 223 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of QuidelOrtho by 48.6% in the 1st quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock worth $73,000 after acquiring an additional 269 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of QuidelOrtho in the 4th quarter worth $80,000. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.