QuidelOrtho Corporation (NASDAQ:QDEL) Given Average Rating of "Reduce" by Analysts

Key Points

• Analysts maintain a bearish outlook: QuidelOrtho has a consensus “Reduce” rating, with three sell ratings and three holds. The average 12-month price target is $13.63, versus a recent share price of $10.77.
• Quarterly results exceeded expectations: The company reported adjusted earnings of $0.13 per share versus estimates for a $0.05 loss, while revenue reached $630.9 million, up 2.8% year over year.
• Institutional ownership is substantial: Hedge funds and other institutional investors own approximately 99% of QuidelOrtho’s shares, with several firms recently initiating or increasing positions.

Shares of QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) have earned a consensus rating of "Reduce" from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.6250.

QDEL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target 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 upped their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Zacks Research lowered shares of QuidelOrtho from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. Jefferies Financial Group restated a "hold" rating on shares of QuidelOrtho in a report on Monday, June 29th. Finally, Wall Street Zen upgraded QuidelOrtho from a "sell" rating to a "hold" rating in a report on Sunday, June 28th.

QuidelOrtho Trading Up 1.3%

Shares of NASDAQ:QDEL opened at $10.77 on Thursday. QuidelOrtho has a 12-month low of $9.92 and a 12-month high of $35.58. 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 has a market cap of $738.50 million, a PE ratio of -0.70 and a beta of 0.68. The business has a 50 day moving average of $15.13 and a 200-day moving average of $14.92.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Rice Hall James & Associates LLC purchased a new stake in QuidelOrtho in the second quarter valued at approximately $18,628,000. Tejara Capital Ltd purchased a new position in shares of QuidelOrtho during the second quarter worth approximately $2,275,000. Edgestream Partners L.P. bought a new stake in shares of QuidelOrtho in the 1st quarter worth approximately $1,937,000. Newtyn Management LLC boosted its stake in shares of QuidelOrtho by 45.3% in the 2nd quarter. Newtyn Management LLC now owns 6,625,000 shares of the company's stock valued at $116,037,000 after purchasing an additional 2,066,528 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of QuidelOrtho in the 2nd quarter valued at $2,851,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Company Profile

QuidelOrtho Corporation NASDAQ: QDEL develops, manufactures and distributes diagnostic products and solutions used to detect and monitor disease. The company serves hospitals, clinical laboratories, physician offices, retail clinics, blood banks and other healthcare providers worldwide.

Its portfolio includes point-of-care and molecular testing systems, immunoassays, clinical chemistry and immunodiagnostic platforms, and transfusion medicine products. Key product lines include the Sofia and QuickVue systems from Quidel and the VITROS, ORTHO Vision and ORTHO Workstation platforms from Ortho Clinical Diagnostics.

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