QuidelOrtho (NASDAQ:QDEL) Trading 6.4% Higher – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL) shares were up 6.4% during mid-day trading on Tuesday . The stock traded as high as $11.36 and last traded at $11.53. Approximately 1,083,027 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 1,858,379 shares. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

QDEL has been the topic of several research analyst reports. Citigroup decreased their target price on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. UBS Group reiterated a “neutral” rating and set a $12.00 price target on shares of QuidelOrtho in a research report on Thursday, May 7th. Zacks Research cut shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Finally, Jefferies Financial Group cut QuidelOrtho from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $35.00 to $12.50 in a report on Thursday, May 7th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $14.88.

QuidelOrtho Stock Up 6.1%

The company has a market cap of $784.40 million, a price-to-earnings ratio of -0.64 and a beta of 0.75. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The firm’s fifty day moving average price is $14.55 and its 200-day moving average price is $22.65.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.41). The business had revenue of $619.80 million for the quarter, compared to analyst estimates of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. Sell-side analysts predict that QuidelOrtho Corporation will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On QuidelOrtho

A number of large investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. bought a new stake in QuidelOrtho in the 1st quarter valued at approximately $1,937,000. Amundi grew its position in QuidelOrtho by 50.0% in the first quarter. Amundi now owns 20,989 shares of the company’s stock valued at $345,000 after purchasing an additional 6,996 shares in the last quarter. California State Teachers Retirement System increased its stake in QuidelOrtho by 49.7% in the 1st quarter. California State Teachers Retirement System now owns 92,989 shares of the company’s stock valued at $1,528,000 after buying an additional 30,857 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of QuidelOrtho by 3.2% during the 1st quarter. Empowered Funds LLC now owns 254,217 shares of the company’s stock worth $4,177,000 after buying an additional 7,956 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of QuidelOrtho by 23.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,026,420 shares of the company’s stock worth $16,864,000 after buying an additional 192,629 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.