QuidelOrtho (NASDAQ:QDEL) Issues Quarterly Earnings Results, Misses Estimates By $0.41 EPS
by Doug Wharley · The Cerbat GemQuidelOrtho (NASDAQ:QDEL – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41), Zacks reports. The company had revenue of $619.80 million for the quarter, compared to analysts’ expectations of $665.23 million. QuidelOrtho had a positive return on equity of 4.06% and a negative net margin of 45.57%.The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. QuidelOrtho updated its FY 2026 guidance to 1.800-2.000 EPS.
Here are the key takeaways from QuidelOrtho’s conference call:
- The Q1 respiratory season was significantly milder and shorter than in 2025, with CDC-reported ILI visits down ~30%, which materially depressed respiratory revenue versus last year.
- Distributors in China paused purchases ahead of draft national IVD pricing guidelines, prompting a downward revision to 2026 guidance and contributing to the revenue shortfall management estimates (part of an approximately $75M midpoint impact).
- Completed the acquisition of LEX Diagnostics, adding an ultra-fast molecular point-of-care platform; initial instrument placements are expected this quarter with measurable assay pull-through and revenue beginning in early 2027.
- Updated full-year 2026 guidance calls for $2.7B–$2.75B revenue, adjusted EBITDA of $615M–$630M (about 23% margin), adjusted EPS $1.80–$2.00, and free cash flow of $100M–$120M, with management reiterating plans for margin expansion.
- Q1 operating cash flow was negative $33M and free cash flow negative $67M with inventory up and net debt/adjusted EBITDA at 4.1x, but the company expects to hit ~3.25–3.5x leverage by year-end through procurement, staffing, and facility consolidation actions.
QuidelOrtho Trading Down 1.7%
Shares of NASDAQ:QDEL traded down $0.19 during trading on Thursday, reaching $10.77. 2,791,600 shares of the company traded hands, compared to its average volume of 1,824,337. The business’s fifty day moving average is $16.38 and its 200-day moving average is $23.70. QuidelOrtho has a 52-week low of $10.21 and a 52-week high of $38.99. The company has a current ratio of 1.50, a quick ratio of 0.90 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $733.38 million, a price-to-earnings ratio of -0.60 and a beta of 0.75.
More QuidelOrtho News
Here are the key news stories impacting QuidelOrtho this week:
- Positive Sentiment: Management outlined a recovery plan on the Q1 earnings call, signaling actions to stabilize margins and return to growth — this could limit downside if execution convinces investors. QuidelOrtho Balances Near-Term Strain With Recovery Plan
- Neutral Sentiment: Full Q1 earnings call transcripts and write-ups are available for investors to review management’s commentary and Q&A (useful for assessing credibility of the recovery plan). Q1 2026 Earnings Call Transcript (Seeking Alpha)
- Negative Sentiment: Q1 results missed expectations: EPS of ($0.04) vs. consensus $0.37 and revenue fell ~10.5% y/y to roughly $619.8M (below estimates). Management flagged weakness in respiratory testing that pressured margins and cash flow — the core operational miss is the main near-term negative catalyst. QDEL Stock Down as Q1 Earnings Miss Estimates, Revenues Down Y/Y
- Negative Sentiment: Citigroup cut its price target from $30 to $13 and moved to a “neutral” rating, signaling reduced analyst confidence and taking a large chunk out of implied upside — a direct pressure on investor sentiment and the stock multiple. QuidelOrtho Price Target Cut to $13.00 by Analysts at Citigroup
Insider Buying and Selling at QuidelOrtho
In other news, Director Matthew Strobeck bought 10,000 shares of QuidelOrtho stock in a transaction on Friday, February 13th. The shares were purchased at an average price of $23.96 per share, for a total transaction of $239,600.00. Following the acquisition, the director owned 27,775 shares of the company’s stock, valued at approximately $665,489. The trade was a 56.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph M. Busky acquired 3,370 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was purchased at an average price of $23.66 per share, with a total value of $79,734.20. Following the acquisition, the chief financial officer owned 10,290 shares of the company’s stock, valued at $243,461.40. This represents a 48.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 23,910 shares of company stock valued at $567,973 in the last 90 days. Insiders own 0.79% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its position in shares of QuidelOrtho by 3,691.7% in the 4th quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after purchasing an additional 886 shares during the last quarter. Larson Financial Group LLC raised its holdings in QuidelOrtho by 322.2% in the third quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock worth $39,000 after buying an additional 1,015 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of QuidelOrtho by 250.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock valued at $93,000 after buying an additional 2,309 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of QuidelOrtho by 298.1% during the second quarter. Osaic Holdings Inc. now owns 3,300 shares of the company’s stock valued at $95,000 after acquiring an additional 2,471 shares in the last quarter. Finally, State of Wyoming raised its holdings in QuidelOrtho by 230.5% in the 2nd quarter. State of Wyoming now owns 4,524 shares of the company’s stock worth $130,000 after acquiring an additional 3,155 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Tuesday, April 21st. Zacks Research lowered shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. UBS Group restated a “neutral” rating and set a $12.00 target price on shares of QuidelOrtho in a research report on Thursday. Citigroup dropped their price objective on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group cut shares of QuidelOrtho from a “buy” rating to a “hold” rating and reduced their price objective for the company from $35.00 to $12.50 in a research note on Thursday. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $14.88.
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.