QuidelOrtho (NASDAQ:QDEL) Trading 9.2% Higher – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL) shares traded up 9.2% during trading on Thursday . The stock traded as high as $14.72 and last traded at $14.8470. 152,980 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,832,095 shares. The stock had previously closed at $13.60.

Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $35.00 to $12.50 in a report on Thursday, May 7th. Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Citigroup lowered their price objective on shares of QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Finally, UBS Group restated a “neutral” rating and issued a $12.00 price objective on shares of QuidelOrtho in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, QuidelOrtho currently has a consensus rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Stock Up 10.1%

The company’s fifty day moving average price is $13.25 and its 200-day moving average price is $21.65. The stock has a market capitalization of $1.02 billion, a PE ratio of -0.84 and a beta of 0.77. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (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 analysts’ expectations of $665.23 million. QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. QuidelOrtho’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. Analysts forecast that QuidelOrtho Corporation will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in QuidelOrtho by 50.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after buying an additional 362 shares during the period. ProShare Advisors LLC boosted its holdings in QuidelOrtho by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock worth $376,000 after buying an additional 388 shares during the period. State of Alaska Department of Revenue boosted its holdings in QuidelOrtho by 1.1% in the 4th quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock worth $1,093,000 after buying an additional 424 shares during the period. Moody National Bank Trust Division boosted its holdings in QuidelOrtho by 1.0% in the 4th quarter. Moody National Bank Trust Division now owns 51,512 shares of the company’s stock worth $1,471,000 after buying an additional 526 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in QuidelOrtho by 1.2% in the 2nd quarter. California State Teachers Retirement System now owns 62,188 shares of the company’s stock worth $1,792,000 after buying an additional 725 shares during the period. 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.