QuidelOrtho (NASDAQ:QDEL) Shares Gap Up – Still a Buy?

QuidelOrtho Corporation (NASDAQ:QDEL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $13.79, but opened at $17.00. QuidelOrtho shares last traded at $18.8740, with a volume of 1,430,590 shares traded.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday. Citigroup cut their target price on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. UBS Group reaffirmed a “neutral” rating and set a $12.00 price target on shares of QuidelOrtho in a research report on Thursday, May 7th. Finally, Jefferies Financial Group lowered QuidelOrtho from a “buy” rating to a “hold” rating and dropped their price target for the stock from $35.00 to $12.50 in a report on Thursday, May 7th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuidelOrtho presently has a consensus rating of “Reduce” and an average target price of $14.88.

QuidelOrtho Stock Performance

The company’s 50-day moving average is $12.49 and its two-hundred day moving average is $20.26. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33. The company has a market cap of $1.26 billion, a P/E ratio of -1.05 and a beta of 0.77.

QuidelOrtho (NASDAQ:QDEL) last announced 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). QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The company had revenue of $619.80 million during the quarter, compared to the consensus estimate of $665.23 million. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue was down 10.5% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. Equities analysts predict that QuidelOrtho Corporation will post 1.83 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its position in QuidelOrtho by 7.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company’s stock worth $337,925,000 after buying an additional 819,908 shares during the last quarter. Invesco Ltd. lifted its position in shares of QuidelOrtho by 19.4% during the 4th quarter. Invesco Ltd. now owns 3,470,656 shares of the company’s stock valued at $99,122,000 after buying an additional 563,893 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of QuidelOrtho by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock worth $50,085,000 after acquiring an additional 212,481 shares during the period. State Street Corp grew its stake in shares of QuidelOrtho by 1.3% during the 4th quarter. State Street Corp now owns 2,704,355 shares of the company’s stock worth $77,236,000 after acquiring an additional 35,616 shares during the period. Finally, Newtyn Management LLC increased its holdings in QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after acquiring an additional 994,332 shares during the last quarter. Hedge funds and other 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.