QuidelOrtho (NASDAQ:QDEL) Trading 6.1% Higher - Time to Buy?

Key Points

• QuidelOrtho shares rose 6.1% in midday trading, reaching as high as $18.32, though volume was far below average at about 309,000 shares versus the typical 1.84 million.
• Analyst sentiment remains cautious: several firms recently adjusted price targets, but the stock still carries a consensus “Reduce” rating with an average target price of $13.62.
• The company’s latest earnings were weak, with EPS of -$0.04 and revenue of $619.8 million, both missing estimates, while revenue fell 10.5% year over year.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) shares traded up 6.1% during mid-day trading on Friday . The company traded as high as $18.32 and last traded at $18.5090. 308,787 shares traded hands during trading, a decline of 83% from the average session volume of 1,835,040 shares. The stock had previously closed at $17.44.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Wednesday, July 1st. Citigroup lifted their price objective on QuidelOrtho from $13.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday. Jefferies Financial Group reiterated a "hold" rating on shares of QuidelOrtho in a report on Monday, June 29th. Wall Street Zen raised QuidelOrtho from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, UBS Group reissued a "neutral" rating and issued a $12.00 price target on shares of QuidelOrtho in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, QuidelOrtho has a consensus rating of "Reduce" and an average target price of $13.62.

QuidelOrtho Trading Up 5.8%

The firm has a market capitalization of $1.26 billion, a PE ratio of -1.04 and a beta of 0.69. 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 business's fifty day moving average price is $13.51 and its 200 day moving average price is $19.56.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.41). The firm had revenue of $619.80 million for the quarter, compared to analyst estimates of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The firm's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. As a group, analysts expect that QuidelOrtho Corporation will post 1.87 EPS for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in QuidelOrtho by 67.7% during the second quarter. GAMMA Investing LLC now owns 2,185 shares of the company's stock worth $38,000 after buying an additional 882 shares during the period. Moody National Bank Trust Division increased its stake in shares of QuidelOrtho by 1.1% during the 2nd quarter. Moody National Bank Trust Division now owns 70,748 shares of the company's stock valued at $1,239,000 after acquiring an additional 789 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of QuidelOrtho by 29.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,543,410 shares of the company's stock valued at $25,358,000 after acquiring an additional 348,549 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of QuidelOrtho during the 1st quarter valued at about $1,937,000. Finally, Amundi lifted its holdings in shares of QuidelOrtho by 50.0% during the 1st quarter. Amundi now owns 20,989 shares of the company's stock worth $345,000 after acquiring an additional 6,996 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.

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