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

QuidelOrtho Corporation (NASDAQ:QDEL) has received a consensus rating of “Reduce” from the six analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $13.6250.

A number of equities analysts recently commented on QDEL shares. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Zacks Research lowered shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Citigroup increased their price target on shares of 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 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its position in shares of QuidelOrtho by 50.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after buying an additional 362 shares during the last quarter. ProShare Advisors LLC grew its position in shares of QuidelOrtho by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock valued at $376,000 after buying an additional 388 shares during the last quarter. California State Teachers Retirement System raised its stake 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 acquiring an additional 725 shares in the last quarter. Moody National Bank Trust Division raised its stake in QuidelOrtho by 1.1% during the 2nd quarter. Moody National Bank Trust Division now owns 70,748 shares of the company’s stock worth $1,239,000 after acquiring an additional 789 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock worth $38,000 after acquiring an additional 882 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Down 3.8%

NASDAQ:QDEL opened at $14.74 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock’s fifty day moving average is $15.93 and its two-hundred day moving average is $16.04. QuidelOrtho has a 52 week low of $9.92 and a 52 week high of $35.58. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -0.96 and a beta of 0.68.

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