Brokerages Set QuidelOrtho Corporation (NASDAQ:QDEL) Price Target at $14.88

QuidelOrtho Corporation (NASDAQ:QDEL) has been given an average rating of “Reduce” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $14.8750.

A number of research firms have commented on QDEL. Jefferies Financial Group cut QuidelOrtho from a “buy” rating to a “hold” rating and decreased their price target for the stock from $35.00 to $12.50 in a research note on Thursday, May 7th. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. UBS Group reissued a “neutral” rating and set a $12.00 target price on shares of QuidelOrtho in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Finally, Citigroup dropped their target price on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th.

Institutional Investors Weigh In On QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of QuidelOrtho by 1,218.7% in the first quarter. Royal Bank of Canada now owns 80,193 shares of the company’s stock worth $2,803,000 after acquiring an additional 74,112 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of QuidelOrtho by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,398 shares of the company’s stock valued at $7,987,000 after acquiring an additional 21,968 shares in the last quarter. Focus Partners Wealth boosted its holdings in QuidelOrtho by 210.9% in the first quarter. Focus Partners Wealth now owns 20,454 shares of the company’s stock valued at $715,000 after purchasing an additional 13,876 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in QuidelOrtho in the second quarter valued at $1,313,000. Finally, EverSource Wealth Advisors LLC grew its stake in QuidelOrtho by 250.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock worth $93,000 after purchasing an additional 2,309 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Trading Up 4.0%

Shares of QDEL stock opened at $12.39 on Friday. QuidelOrtho has a 1-year low of $9.92 and a 1-year high of $35.58. The firm has a market cap of $844.89 million, a PE ratio of -0.70 and a beta of 0.75. The company has a 50-day moving average of $14.07 and a two-hundred day moving average of $22.33. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.80.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) 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 posted $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, analysts predict that QuidelOrtho will post 1.83 EPS for the current year.

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.