QuidelOrtho (NASDAQ:QDEL) Shares Gap Down – Should You Sell?

QuidelOrtho Corporation (NASDAQ:QDEL) gapped down prior to trading on Wednesday. The stock had previously closed at $14.21, but opened at $13.73. QuidelOrtho shares last traded at $14.1740, with a volume of 314,382 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Zacks Research upgraded shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. raised their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Thursday, October 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Stock Performance

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 firm has a market cap of $970.95 million, a price-to-earnings ratio of -0.92 and a beta of 0.79. The stock has a fifty day moving average price of $12.86 and a 200 day moving average price of $13.87.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $630.90 million during the quarter, compared to analyst estimates of $618.72 million. During the same period in the previous year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. As a group, analysts predict that QuidelOrtho Corporation will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted 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 worth $38,000 after buying an additional 882 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of 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 during the 2nd quarter worth $53,000. Allworth Financial LP acquired a new position in QuidelOrtho in the 2nd quarter valued at $56,000. Finally, Leonteq Securities AG grew its stake in QuidelOrtho by 555.2% in the 1st quarter. Leonteq Securities AG now owns 3,466 shares of the company’s stock valued at $57,000 after buying an additional 2,937 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

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.