QuidelOrtho Corporation (NASDAQ:QDEL) Given Average Recommendation of “Reduce” by Brokerages

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) have been assigned a consensus rating of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.6250.

A number of analysts have recently commented on QDEL shares. Citigroup lifted their target price on QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. UBS Group reissued a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Wall Street Zen raised QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. raised its position in QuidelOrtho by 50.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock valued at $31,000 after purchasing an additional 362 shares during the last quarter. ProShare Advisors LLC boosted its stake in QuidelOrtho by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock worth $376,000 after purchasing an additional 388 shares during the period. State of Alaska Department of Revenue boosted its stake in QuidelOrtho by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock worth $1,093,000 after purchasing an additional 424 shares during the period. California State Teachers Retirement System grew its position in QuidelOrtho by 1.2% during the 2nd quarter. California State Teachers Retirement System now owns 62,188 shares of the company’s stock worth $1,792,000 after purchasing an additional 725 shares during the last quarter. Finally, Moody National Bank Trust Division increased its stake in QuidelOrtho by 1.1% in the second quarter. Moody National Bank Trust Division now owns 70,748 shares of the company’s stock valued at $1,239,000 after purchasing an additional 789 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

NASDAQ QDEL opened at $16.77 on Wednesday. The firm’s fifty day moving average price is $15.37 and its 200 day moving average price is $18.06. QuidelOrtho has a 12 month low of $9.92 and a 12 month high of $35.58. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.80. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.94 and a beta of 0.68.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. The company had revenue of $619.80 million during the quarter, compared to analysts’ expectations of $665.23 million. During the same period last year, the firm earned $0.74 earnings per share. QuidelOrtho’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. On average, sell-side analysts expect that QuidelOrtho will post 1.87 earnings per share for the current fiscal year.

About QuidelOrtho

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.