QuidelOrtho (NASDAQ:QDEL) Shares Gap Down - Time to Sell?

Key Points

• QuidelOrtho shares plunged, opening at $12.67 versus a prior close of $16.32 and later trading near $11.98 on substantial volume.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating, with four Holds and two Sells and an average price target of $13.62.
• The company exceeded quarterly expectations with $0.13 in EPS versus a forecasted loss of $0.05 and revenue of $630.9 million, though it reported a negative net margin of 45.57%.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $16.32, but opened at $12.67. QuidelOrtho shares last traded at $11.9830, with a volume of 631,070 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QDEL. Weiss Ratings reiterated a "sell (e+)" rating on shares of QuidelOrtho in a research report on Friday, July 17th. Wall Street Zen upgraded shares of QuidelOrtho from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. 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. UBS Group reiterated a "neutral" rating and set a $12.00 target price on shares of QuidelOrtho in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, QuidelOrtho has an average rating of "Reduce" and a consensus price target of $13.62.

QuidelOrtho Stock Performance

The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33. The company has a fifty day moving average price of $15.77 and a 200 day moving average price of $17.59. The stock has a market cap of $862.54 million, a PE ratio of -0.71 and a beta of 0.68.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.18. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The firm had revenue of $630.90 million during the quarter, compared to analyst estimates of $618.72 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business's quarterly 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. Analysts expect that QuidelOrtho Corporation will post 1.87 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its stake in shares of QuidelOrtho by 3,691.7% during the fourth quarter. Global Retirement Partners LLC now owns 910 shares of the company's stock valued at $26,000 after acquiring an additional 886 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of QuidelOrtho in the fourth quarter worth about $29,000. Hantz Financial Services Inc. grew its stake in shares of QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company's stock worth $31,000 after purchasing an additional 362 shares during the last quarter. GAMMA Investing LLC increased its holdings in QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company's stock valued at $38,000 after purchasing an additional 882 shares during the period. Finally, Larson Financial Group LLC increased its holdings in QuidelOrtho by 322.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the company's stock valued at $39,000 after purchasing an additional 1,015 shares during the period. Hedge funds and other institutional investors own 99.00% of the company's stock.

QuidelOrtho Company Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company's product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source