QuidelOrtho Corporation (QDEL) - What Are Brokerages Thinking About This Stock?

Key Points

• Analyst sentiment is cautious: Six analysts give QuidelOrtho an average “Reduce” rating—two sells and four holds—with a mean 12-month price target of $13.62.
• Quarterly results were mixed: Earnings per share of $0.31 beat the $0.18 consensus, but revenue of $618.9 million missed expectations and fell 11.6% year over year.
• Institutional ownership stands at 99%, with several funds increasing their holdings in the third quarter. QDEL recently opened at $12.84, within a 52-week range of $9.92 to $35.58.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) has been assigned an average rating of "Reduce" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $13.62.

Several analysts recently weighed in on the company. Zacks Research upgraded QuidelOrtho from a "strong sell" rating to a "hold" rating in a research note on Friday, October 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of QuidelOrtho in a report on Thursday, October 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gagnon Securities LLC grew its stake in shares of QuidelOrtho by 26.0% during the 3rd quarter. Gagnon Securities LLC now owns 1,298,562 shares of the company's stock valued at $13,687,000 after acquiring an additional 268,191 shares during the period. Maryland State Retirement & Pension System bought a new position in shares of QuidelOrtho in the third quarter worth approximately $160,000. Illinois Municipal Retirement Fund increased its stake in shares of QuidelOrtho by 15.4% in the third quarter. Illinois Municipal Retirement Fund now owns 40,140 shares of the company's stock worth $423,000 after purchasing an additional 5,345 shares in the last quarter. Private Management Group Inc. increased its stake in shares of QuidelOrtho by 10.6% in the third quarter. Private Management Group Inc. now owns 2,290,299 shares of the company's stock worth $24,140,000 after purchasing an additional 219,908 shares in the last quarter. Finally, Fulcrum Asset Management LLP increased its stake in shares of QuidelOrtho by 337.4% in the third quarter. Fulcrum Asset Management LLP now owns 29,344 shares of the company's stock worth $311,000 after purchasing an additional 22,636 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Price Performance

QDEL stock opened at $12.84 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.36 and a quick ratio of 0.76. QuidelOrtho has a 1 year low of $9.92 and a 1 year high of $35.58. The firm has a 50-day moving average of $12.68 and a 200 day moving average of $16.07. The company has a market cap of $880.44 million, a P/E ratio of -2.37 and a beta of 0.77.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.13. The business had revenue of $618.90 million for the quarter, compared to analysts' expectations of $627.83 million. QuidelOrtho had a positive return on equity of 3.22% and a negative net margin of 14.24%. The business's revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS. On average, sell-side analysts forecast that QuidelOrtho will post 0.68 EPS for the current year.

QuidelOrtho Company Profile

QuidelOrtho Corporation NASDAQ: QDEL is a global in vitro diagnostics company formed through the combination of Quidel Corporation and Ortho Clinical Diagnostics, a transaction completed in 2022. The company develops, manufactures and markets diagnostic technologies used to detect disease, guide treatment decisions and support blood-transfusion safety.

Its portfolio includes rapid immunoassays, molecular testing systems, clinical chemistry and immunohematology products, as well as laboratory automation solutions.

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