QuidelOrtho (NASDAQ:QDEL) Shares Gap Down - What's Next?

Key Points

• QuidelOrtho shares gapped down, opening at $13.73 versus the prior close of $14.21, and last traded near $14.17 on volume of about 314,000 shares.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” from MarketBeat, with an average price target of $13.62; four analysts rate it Hold and two rate it Sell.
• The company exceeded quarterly earnings and revenue expectations, reporting $0.13 EPS and $630.9 million in revenue, though it continues to post a negative net margin. Institutional investors own approximately 99% of the stock.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report)'s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $14.21, but opened at $13.73. QuidelOrtho shares last traded at $14.1740, with a volume of 314,382 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QDEL shares. Weiss Ratings restated a "sell (e+)" rating on shares of QuidelOrtho in a research note on Thursday, October 15th. Citigroup raised their target price on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price objective on QuidelOrtho from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 1st. Jefferies Financial Group reiterated a "hold" rating on shares of QuidelOrtho in a report on Monday, June 29th. Finally, Wall Street Zen raised QuidelOrtho from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, QuidelOrtho currently has a consensus rating of "Reduce" and an average target price of $13.62.

QuidelOrtho Stock Down 0.4%

The business has a fifty day moving average price of $12.86 and a two-hundred day moving average price of $13.87. The company has a current ratio of 1.39, a quick ratio of 0.76 and a debt-to-equity ratio of 1.43. The company has a market cap of $970.95 million, a price-to-earnings ratio of -0.92 and a beta of 0.79.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.18. The business had revenue of $630.90 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, equities analysts predict that QuidelOrtho Corporation will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company's stock worth $38,000 after purchasing an additional 882 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of QuidelOrtho by 14,166.7% during the 2nd quarter. IFP Advisors Inc now owns 2,568 shares of the company's stock valued at $45,000 after buying an additional 2,550 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of QuidelOrtho during the 2nd quarter valued at about $53,000. Allworth Financial LP bought a new stake in shares of QuidelOrtho in the 2nd quarter valued at approximately $56,000. Finally, Leonteq Securities AG grew its stake in shares of QuidelOrtho by 555.2% in the 1st quarter. Leonteq Securities AG now owns 3,466 shares of the company's stock valued at $57,000 after buying an additional 2,937 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Company Profile

QuidelOrtho Corporation NASDAQ: QDEL develops, manufactures and distributes diagnostic products used by healthcare providers, clinical laboratories and blood-processing organizations. The company's offerings are designed to support the detection, diagnosis and monitoring of infectious diseases, cardiovascular conditions and other medical conditions.

Its product portfolio includes point-of-care testing systems, molecular diagnostic assays, immunoassays, clinical chemistry and immunodiagnostic platforms, as well as transfusion medicine products.

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