QuidelOrtho (NASDAQ:QDEL) Shares Gap Up – Here’s What Happened

QuidelOrtho Corporation (NASDAQ:QDEL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $13.79, but opened at $17.00. QuidelOrtho shares last traded at $18.8740, with a volume of 1,430,590 shares.

Analysts Set New Price Targets

A number of research firms recently commented on QDEL. UBS Group reiterated a “neutral” rating and set a $12.00 price target on shares of QuidelOrtho in a report on Thursday, May 7th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Monday. Finally, Wall Street Zen upgraded shares of QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, QuidelOrtho currently has an average rating of “Reduce” and a consensus price target of $14.88.

QuidelOrtho Stock Performance

The business has a fifty day moving average of $12.70 and a 200 day moving average of $20.11. The company has a market cap of $1.19 billion, a P/E ratio of -0.98 and a beta of 0.77. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.41). QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. The company had revenue of $619.80 million during the quarter, compared to the consensus estimate of $665.23 million. During the same quarter last year, the firm earned $0.74 EPS. The business’s revenue was down 10.5% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, equities analysts predict that QuidelOrtho Corporation will post 1.83 EPS for the current year.

Institutional Trading of QuidelOrtho

Several institutional investors and hedge funds have recently bought and sold shares of QDEL. Segall Bryant & Hamill LLC grew its holdings 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 worth $25,358,000 after acquiring an additional 348,549 shares during the period. Edgestream Partners L.P. purchased a new position in shares of QuidelOrtho in the 1st quarter valued at approximately $1,937,000. Amundi boosted its position in shares of QuidelOrtho by 50.0% during the first quarter. Amundi now owns 20,989 shares of the company’s stock valued at $345,000 after purchasing an additional 6,996 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of QuidelOrtho by 49.7% during the first quarter. California State Teachers Retirement System now owns 92,989 shares of the company’s stock valued at $1,528,000 after purchasing an additional 30,857 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in QuidelOrtho by 3.2% in the first quarter. Empowered Funds LLC now owns 254,217 shares of the company’s stock worth $4,177,000 after purchasing an additional 7,956 shares during the period. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

About QuidelOrtho

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.