QuidelOrtho (NASDAQ:QDEL) Stock Jumps 6.5% – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price traded up 6.5% during trading on Tuesday. The company traded as high as $13.81 and last traded at $14.1160. Approximately 547,436 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,743,756 shares. The stock had previously closed at $13.25.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Citigroup increased their target price on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Trading Down 1.6%

The firm’s 50 day moving average is $12.91 and its 200 day moving average is $13.94. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 0.76. The company has a market capitalization of $951.07 million, a PE ratio of 10.44 and a beta of 0.79.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. The business had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.72 million. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. As a group, equities analysts predict that QuidelOrtho Corporation will post 0.75 EPS for the current year.

Institutional Investors Weigh In On QuidelOrtho

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of QuidelOrtho by 67.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock worth $38,000 after purchasing an additional 882 shares during the period. IFP Advisors Inc lifted its holdings in shares of QuidelOrtho by 14,166.7% during the second quarter. IFP Advisors Inc now owns 2,568 shares of the company’s stock valued at $45,000 after purchasing an additional 2,550 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of QuidelOrtho in the 2nd quarter worth approximately $53,000. Allworth Financial LP bought a new stake in shares of QuidelOrtho in the 2nd quarter worth approximately $56,000. Finally, Leonteq Securities AG boosted its position in shares of QuidelOrtho by 555.2% in the 1st quarter. Leonteq Securities AG now owns 3,466 shares of the company’s stock worth $57,000 after purchasing an additional 2,937 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors.

About QuidelOrtho

QuidelOrtho Corporation (NASDAQ:QDEL) develops, manufactures and distributes diagnostic products used by healthcare providers, clinical laboratories and blood-processing organizations. The company’s offerings are designed to support the detection, diagnosis and monitoring of infectious diseases, cardiovascular conditions and other medical conditions.

Its product portfolio includes point-of-care testing systems, molecular diagnostic assays, immunoassays, clinical chemistry and immunodiagnostic platforms, as well as transfusion medicine products.