QuidelOrtho (NASDAQ:QDEL) Shares Up 5.7% - Should You Buy?

Key Points

• QuidelOrtho shares rose 5.7% to about $14.37, though trading volume was 97% below the average daily level.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” from four Hold and two Sell ratings, with an average price target of $13.62.
• The company beat quarterly earnings and revenue expectations, reporting $0.13 in EPS and $630.9 million in revenue, while institutional investors own approximately 99% of the stock.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report)'s share price rose 5.7% during trading on Wednesday. The company traded as high as $14.56 and last traded at $14.3680. Approximately 51,284 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,763,201 shares. The stock had previously closed at $13.59.

Analysts Set New Price Targets

Several research firms have issued reports on QDEL. Zacks Research raised QuidelOrtho from a "strong sell" rating to a "hold" rating in a report on Friday, October 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of QuidelOrtho in a report on Thursday, October 15th. Citigroup upped their price objective on QuidelOrtho from $13.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on QuidelOrtho from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $13.62.

QuidelOrtho Trading Up 3.3%

The company has a fifty day simple moving average of $12.78 and a two-hundred day simple moving average of $16.77. The company has a market cap of $962.66 million, a PE ratio of -0.91 and a beta of 0.79.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates 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's quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, research analysts anticipate that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QDEL. Rice Hall James & Associates LLC acquired a new position in QuidelOrtho during the second quarter valued at $18,628,000. Tejara Capital Ltd acquired a new stake in QuidelOrtho during the second quarter valued at $2,275,000. Paradigm Capital Management Inc. NY purchased a new position in QuidelOrtho in the second quarter valued at about $44,168,000. Edgestream Partners L.P. acquired a new position in QuidelOrtho in the 1st quarter worth about $1,937,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of QuidelOrtho during the 2nd quarter worth about $7,720,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.