QuidelOrtho (NASDAQ:QDEL) Stock Price Up 8.6% - What's Next?

Key Points

• QuidelOrtho shares rose 8.6% to about $13.85, although trading volume was 76% below the average daily level.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and two rate it Sell, producing an average “Reduce” rating and a $13.62 price target.
• The company exceeded quarterly expectations with $0.13 EPS and $630.9 million in revenue, but it reported a negative net margin of 39.2%; institutional investors own approximately 99% of the stock.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) traded up 8.6% on Tuesday. The company traded as high as $13.80 and last traded at $13.8540. 416,864 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,751,490 shares. The stock had previously closed at $12.76.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings restated a "sell (e+)" rating on shares of QuidelOrtho in a research report on Thursday. JPMorgan Chase & Co. lifted 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. Wall Street Zen raised shares of QuidelOrtho from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Zacks Research raised shares of QuidelOrtho from a "strong sell" rating to a "hold" rating in a research note on Friday, October 9th. Finally, Jefferies Financial Group restated a "hold" rating on shares of QuidelOrtho in a report on Monday, June 29th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, QuidelOrtho currently has an average rating of "Reduce" and an average price target of $13.62.

QuidelOrtho Price Performance

The stock has a market capitalization of $972.67 million, a PE ratio of -0.92 and a beta of 0.79. 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's 50 day simple moving average is $12.86 and its 200 day simple moving average is $13.89.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.18. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%. The company had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.72 million. During the same quarter in the prior year, the company posted $0.12 EPS. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, equities analysts anticipate that QuidelOrtho Corporation will post 0.75 earnings per share for the current year.

Institutional Trading of QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in the business. Net Worth Advisory Group purchased a new position in shares of QuidelOrtho in the 3rd quarter worth $113,000. Integrated Wealth Concepts LLC purchased a new stake in QuidelOrtho during the second quarter valued at about $53,000. IFP Advisors Inc grew its position in QuidelOrtho by 14,166.7% during the second quarter. IFP Advisors Inc now owns 2,568 shares of the company's stock valued at $45,000 after acquiring an additional 2,550 shares during the period. Squarepoint Ops LLC acquired a new stake in QuidelOrtho during the second quarter worth about $1,493,000. Finally, Allworth Financial LP increased its stake in QuidelOrtho by 161.3% during the second quarter. Allworth Financial LP now owns 3,209 shares of the company's stock worth $56,000 after acquiring an additional 1,981 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

About QuidelOrtho

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.

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.