Citigroup Cuts QuidelOrtho (NASDAQ:QDEL) Price Target to $13.00

QuidelOrtho (NASDAQ:QDEL) had its target price cut by Citigroup from $30.00 to $13.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on QDEL. UBS Group lowered their target price on QuidelOrtho from $30.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Zacks Research lowered QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Finally, Wall Street Zen lowered QuidelOrtho from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Stock Up 0.3%

Shares of QuidelOrtho stock opened at $10.80 on Wednesday. The firm has a market cap of $736.45 million, a P/E ratio of -0.61 and a beta of 0.75. The business has a 50-day moving average price of $16.15 and a 200 day moving average price of $23.57. QuidelOrtho has a fifty-two week low of $10.21 and a fifty-two week high of $38.99. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 1.33.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.41). The company had revenue of $619.80 million for the quarter, compared to the consensus estimate of $665.23 million. QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, sell-side analysts forecast that QuidelOrtho will post 1.9 earnings per share for the current fiscal year.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky acquired 3,370 shares of QuidelOrtho stock in a transaction dated Friday, February 13th. The stock was acquired at an average cost of $23.66 per share, for a total transaction of $79,734.20. Following the completion of the transaction, the chief financial officer owned 10,290 shares in the company, valued at approximately $243,461.40. This represents a 48.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Strobeck acquired 10,000 shares of QuidelOrtho stock in a transaction dated Friday, February 13th. The shares were acquired at an average price of $23.96 per share, with a total value of $239,600.00. Following the completion of the transaction, the director owned 27,775 shares of the company’s stock, valued at approximately $665,489. This trade represents a 56.26% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 23,910 shares of company stock worth $567,973. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in 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 period. ProShare Advisors LLC lifted its position in QuidelOrtho by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock worth $376,000 after purchasing an additional 388 shares during the period. State of Alaska Department of Revenue lifted its position in QuidelOrtho by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock worth $1,093,000 after purchasing an additional 424 shares during the period. Moody National Bank Trust Division lifted its position in QuidelOrtho by 1.0% in the fourth quarter. Moody National Bank Trust Division now owns 51,512 shares of the company’s stock worth $1,471,000 after purchasing an additional 526 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in QuidelOrtho by 118.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after purchasing an additional 693 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.