QuidelOrtho (NASDAQ:QDEL) Stock Price Up 6.4% – Here’s What Happened
by Jessica Moore · The Cerbat GemQuidelOrtho Corporation (NASDAQ:QDEL – Get Free Report)’s share price shot up 6.4% during mid-day trading on Tuesday . The company traded as high as $11.36 and last traded at $11.53. 1,083,027 shares changed hands during trading, a decline of 42% from the average session volume of 1,858,379 shares. The stock had previously closed at $10.84.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on QDEL. Citigroup cut their price objective on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Tuesday, April 21st. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Jefferies Financial Group downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating and decreased their price objective for the company from $35.00 to $12.50 in a report on Thursday, May 7th. Finally, UBS Group reissued a “neutral” rating and issued a $12.00 price target on shares of QuidelOrtho in a report on Thursday, May 7th. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuidelOrtho has an average rating of “Reduce” and a consensus price target of $14.88.
Get Our Latest Stock Analysis on QuidelOrtho
QuidelOrtho Price Performance
The business’s 50 day moving average is $14.07 and its 200-day moving average is $22.33. 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 capitalization of $844.87 million, a P/E ratio of -0.70 and a beta of 0.75.
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.41). The business 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%.QuidelOrtho’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. As a group, sell-side analysts predict that QuidelOrtho Corporation will post 1.83 EPS for the current fiscal year.
Hedge Funds Weigh In On QuidelOrtho
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC boosted its stake in 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 acquiring an additional 886 shares in the last quarter. Camelot Portfolios LLC acquired a new position in QuidelOrtho during the fourth quarter worth $29,000. Hantz Financial Services Inc. lifted its stake in shares of QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock valued at $31,000 after buying an additional 362 shares in the last quarter. Larson Financial Group LLC boosted its stake in QuidelOrtho by 322.2% during the 3rd 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. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of QuidelOrtho in the third quarter worth approximately $63,000. Institutional investors and hedge funds own 99.00% of the company’s stock.
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.