JPMorgan Chase & Co. Issues Pessimistic Forecast for QuidelOrtho (NASDAQ:QDEL) Stock Price

QuidelOrtho (NASDAQ:QDEL) had its price objective decreased by JPMorgan Chase & Co. from $26.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 8.11% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. Wall Street Zen cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Citigroup reaffirmed a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. UBS Group boosted their target price on shares of QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Zacks Research lowered QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, QuidelOrtho currently has a consensus rating of “Reduce” and a consensus price target of $38.20.

QuidelOrtho Stock Performance

QDEL stock traded down $0.91 on Friday, hitting $20.35. The company’s stock had a trading volume of 3,299,466 shares, compared to its average volume of 1,328,476. QuidelOrtho has a 1 year low of $20.10 and a 1 year high of $49.45. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -3.11 and a beta of 0.35. The firm has a 50 day moving average of $28.31 and a two-hundred day moving average of $28.41.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.29. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The company had revenue of $699.90 million for the quarter, compared to the consensus estimate of $667.45 million. During the same period last year, the business posted $0.85 EPS. The company’s revenue was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Equities analysts predict that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

Hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC lifted its holdings in shares of QuidelOrtho by 100.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock worth $30,000 after acquiring an additional 496 shares during the period. Allworth Financial LP lifted its stake in shares of QuidelOrtho by 2,460.9% during the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock valued at $34,000 after acquiring an additional 1,132 shares during the period. Summit Securities Group LLC bought a new position in shares of QuidelOrtho in the 1st quarter valued at about $36,000. Nisa Investment Advisors LLC grew its holdings in QuidelOrtho by 118.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after acquiring an additional 693 shares during the period. Finally, Quarry LP lifted its stake in QuidelOrtho by 47.1% in the first quarter. Quarry LP now owns 1,436 shares of the company’s stock valued at $50,000 after buying an additional 460 shares during the period. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.