QuidelOrtho Corporation (NASDAQ:QDEL) Receives Average Rating of “Reduce” from Analysts

QuidelOrtho Corporation (NASDAQ:QDEL) has received an average rating of “Reduce” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $14.8750.

Several research analysts recently commented on QDEL shares. UBS Group reiterated a “neutral” rating and set a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Citigroup reduced their price objective on shares of QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Zacks Research lowered shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Jefferies Financial Group downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating and cut their price objective for the company from $35.00 to $12.50 in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Sunday, April 12th.

QuidelOrtho Trading Up 1.0%

NASDAQ QDEL opened at $14.47 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33. The firm has a market cap of $986.71 million, a PE ratio of -0.81 and a beta of 0.77. The company has a 50 day moving average price of $13.17 and a 200 day moving average price of $21.51. QuidelOrtho has a 52 week low of $9.92 and a 52 week high of $35.58.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.41). The firm had revenue of $619.80 million for the quarter, compared to the consensus estimate of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. As a group, sell-side analysts forecast that QuidelOrtho will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aristotle Capital Boston LLC raised its position in shares of QuidelOrtho by 62.4% in the 3rd quarter. Aristotle Capital Boston LLC now owns 382,389 shares of the company’s stock valued at $11,261,000 after purchasing an additional 146,956 shares during the last quarter. American Century Companies Inc. raised its position in shares of QuidelOrtho by 10.4% in the 3rd quarter. American Century Companies Inc. now owns 2,115,557 shares of the company’s stock valued at $62,303,000 after purchasing an additional 199,909 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of QuidelOrtho by 17.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 264,853 shares of the company’s stock valued at $7,800,000 after purchasing an additional 38,935 shares during the last quarter. Phocas Financial Corp. raised its position in shares of QuidelOrtho by 45.7% in the 4th quarter. Phocas Financial Corp. now owns 170,018 shares of the company’s stock valued at $4,856,000 after purchasing an additional 53,353 shares during the last quarter. Finally, Tejara Capital Ltd raised its position in shares of QuidelOrtho by 97.2% in the 4th quarter. Tejara Capital Ltd now owns 208,327 shares of the company’s stock valued at $5,950,000 after purchasing an additional 102,700 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

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.