QuidelOrtho (NASDAQ:QDEL) Trading Down 6% - What's Next?

Key Points

• QuidelOrtho shares fell 6% to about $10.42, with trading volume roughly 46% below the average. The stock is trading well below its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: three analysts rate the stock “Hold” and three rate it “Sell,” resulting in a consensus “Reduce” rating, despite a $13.62 average price target.
• The company exceeded quarterly expectations with $0.13 in adjusted EPS and $630.9 million in revenue, up 2.8% year over year, but continues to report a negative net margin of 39.2%.

Shares of QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) were down 6% during trading on Friday . The stock traded as low as $10.50 and last traded at $10.4210. Approximately 930,298 shares changed hands during trading, a decline of 46% from the average daily volume of 1,719,001 shares. The stock had previously closed at $11.09.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on QDEL shares. Jefferies Financial Group restated a "hold" rating on shares of QuidelOrtho in a report on Monday, June 29th. JPMorgan Chase & Co. boosted their target price on QuidelOrtho from $11.00 to $12.00 and gave the company an "underweight" rating in a research note on Wednesday, July 1st. Citigroup raised their price target on QuidelOrtho from $13.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded QuidelOrtho from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Finally, Zacks Research cut shares of QuidelOrtho from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $13.62.

QuidelOrtho Stock Down 6.0%

The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.76 and a current ratio of 1.39. The firm has a market cap of $715.24 million, a price-to-earnings ratio of -0.68 and a beta of 0.68. The business's 50-day moving average is $15.00 and its 200-day moving average is $14.84.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.18. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The business had revenue of $630.90 million for the quarter, compared to analysts' expectations of $618.72 million. During the same period in the prior year, the firm earned $0.12 earnings per share. QuidelOrtho's revenue 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 predict that QuidelOrtho Corporation will post 0.75 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its position in QuidelOrtho by 50.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company's stock worth $31,000 after buying an additional 362 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of QuidelOrtho by 67.7% in the second quarter. GAMMA Investing LLC now owns 2,185 shares of the company's stock valued at $38,000 after buying an additional 882 shares during the period. IFP Advisors Inc lifted its holdings in QuidelOrtho by 14,166.7% during the 2nd quarter. IFP Advisors Inc now owns 2,568 shares of the company's stock worth $45,000 after buying an additional 2,550 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of QuidelOrtho in the 2nd quarter valued at about $53,000. Finally, Allworth Financial LP bought a new position in shares of QuidelOrtho during the second quarter worth about $56,000. 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 and solutions used to detect and monitor disease. The company serves hospitals, clinical laboratories, physician offices, retail clinics, blood banks and other healthcare providers worldwide.

Its portfolio includes point-of-care and molecular testing systems, immunoassays, clinical chemistry and immunodiagnostic platforms, and transfusion medicine products. Key product lines include the Sofia and QuickVue systems from Quidel and the VITROS, ORTHO Vision and ORTHO Workstation platforms from Ortho Clinical Diagnostics.

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