QuidelOrtho (NASDAQ:QDEL) Shares Up 6.9% – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL) traded up 6.9% on Thursday . The company traded as high as $14.68 and last traded at $14.7510. 332,858 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,756,670 shares. The stock had previously closed at $13.80.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QDEL. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research report on Friday, July 17th. UBS Group reissued a “neutral” rating and issued a $12.00 price objective on shares of QuidelOrtho in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Zacks Research lowered QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Finally, Citigroup lifted their target price on QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Stock Performance

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 firm has a market capitalization of $1.01 billion, a PE ratio of -0.96 and a beta of 0.68. The company’s fifty day simple moving average is $15.82 and its 200 day simple moving average is $16.51.

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

Institutional Investors Weigh In On QuidelOrtho

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of QuidelOrtho by 1,218.7% during 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 grew its position 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 purchasing an additional 21,968 shares in the last quarter. Focus Partners Wealth raised its stake in shares of QuidelOrtho by 210.9% during the 1st 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 stake in QuidelOrtho during the 2nd quarter worth about $1,313,000. Finally, EverSource Wealth Advisors LLC lifted its holdings 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. 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.