Q3 2024 EPS Estimates for QuidelOrtho Co. (NASDAQ:QDEL) Boosted by William Blair

QuidelOrtho Co. (NASDAQ:QDEL - Free Report) - Analysts at William Blair upped their Q3 2024 EPS estimates for QuidelOrtho in a report issued on Thursday, April 18th. William Blair analyst A. Brackmann now forecasts that the company will post earnings per share of $0.80 for the quarter, up from their prior estimate of $0.66. William Blair currently has a "Market Perform" rating on the stock. The consensus estimate for QuidelOrtho's current full-year earnings is $2.36 per share. William Blair also issued estimates for QuidelOrtho's FY2024 earnings at $2.39 EPS and FY2025 earnings at $3.44 EPS.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The business had revenue of $742.60 million for the quarter, compared to the consensus estimate of $796.91 million. During the same quarter in the prior year, the business posted $1.74 earnings per share. QuidelOrtho's revenue for the quarter was down 14.3% on a year-over-year basis.

Several other equities research analysts also recently weighed in on QDEL. Craig Hallum restated a "hold" rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. UBS Group restated a "sell" rating and issued a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Royal Bank of Canada lowered their target price on shares of QuidelOrtho from $130.00 to $81.00 and set an "outperform" rating for the company in a research note on Wednesday, February 14th. JPMorgan Chase & Co. downgraded shares of QuidelOrtho from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $66.00 to $37.00 in a research note on Wednesday, February 14th. Finally, Raymond James reiterated an "outperform" rating and set a $76.00 price objective (down from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, QuidelOrtho has a consensus rating of "Hold" and an average target price of $61.60.

QuidelOrtho Stock Up 2.2 %

QDEL traded up $0.86 during trading on Friday, hitting $39.12. The stock had a trading volume of 1,106,261 shares, compared to its average volume of 1,009,807. The company has a market capitalization of $2.62 billion, a PE ratio of -244.50 and a beta of 0.11. QuidelOrtho has a twelve month low of $37.78 and a twelve month high of $95.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57. The stock has a 50 day simple moving average of $45.90 and a two-hundred day simple moving average of $60.80.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC raised its holdings in shares of QuidelOrtho by 109.0% during the third quarter. Global Retirement Partners LLC now owns 347 shares of the company's stock worth $26,000 after purchasing an additional 181 shares during the last quarter. Money Concepts Capital Corp increased its holdings in QuidelOrtho by 66.8% in the fourth quarter. Money Concepts Capital Corp now owns 337 shares of the company's stock valued at $29,000 after buying an additional 135 shares in the last quarter. Eagle Bay Advisors LLC increased its holdings in QuidelOrtho by 174.2% in the second quarter. Eagle Bay Advisors LLC now owns 351 shares of the company's stock valued at $34,000 after buying an additional 223 shares in the last quarter. GAMMA Investing LLC increased its holdings in QuidelOrtho by 1,871.8% in the first quarter. GAMMA Investing LLC now owns 1,400 shares of the company's stock valued at $67,000 after buying an additional 1,329 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in QuidelOrtho by 48.6% in the first quarter. First Horizon Advisors Inc. now owns 822 shares of the company's stock valued at $73,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company's stock.

Insider Transactions at QuidelOrtho

In related news, CFO Joseph M. Busky acquired 2,150 shares of the stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the purchase, the chief financial officer now owns 2,150 shares of the company's stock, valued at approximately $99,652.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.

About QuidelOrtho

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.