QuidelOrtho (NASDAQ:QDEL) Stock Price Up 6.1% – Here’s Why

QuidelOrtho Corporation (NASDAQ:QDEL) traded up 6.1% during mid-day trading on Friday . The company traded as high as $18.32 and last traded at $18.5090. Approximately 308,787 shares traded hands during trading, a decline of 83% from the average daily volume of 1,835,040 shares. The stock had previously closed at $17.44.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QDEL shares. JPMorgan Chase & Co. increased their target price on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Citigroup boosted their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group reaffirmed a “neutral” rating and set a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Stock Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $13.65 and its two-hundred day simple moving average is $19.55. The stock has a market cap of $1.25 billion, a P/E ratio of -1.03 and a beta of 0.69.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.41). QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The company had revenue of $619.80 million for the quarter, compared to the consensus estimate of $665.23 million. During the same period in the prior year, the company earned $0.74 EPS. The firm’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. As a group, research analysts forecast that QuidelOrtho Corporation will post 1.87 EPS for the current year.

Institutional Trading of QuidelOrtho

Several hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in shares of QuidelOrtho by 3,691.7% during the fourth quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after buying an additional 886 shares in the last quarter. Camelot Portfolios LLC acquired a new position in QuidelOrtho during the 4th quarter worth approximately $29,000. Hantz Financial Services Inc. grew its stake 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 acquiring an additional 362 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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. Finally, Larson Financial Group LLC raised its holdings in shares of QuidelOrtho by 322.2% in the third quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock valued at $39,000 after purchasing an additional 1,015 shares during the last quarter. Institutional investors and hedge funds 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.