QuidelOrtho (NASDAQ:QDEL) Shares Up 11.4% – Here’s What Happened

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price was up 11.4% on Thursday . The company traded as high as $13.17 and last traded at $13.5970. Approximately 181,052 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,810,355 shares. The stock had previously closed at $12.21.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Wall Street Zen lowered shares of QuidelOrtho from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Finally, UBS Group reaffirmed a “neutral” rating and set a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Trading Up 2.0%

The business has a 50 day moving average of $12.49 and a 200-day moving average of $20.31. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $940.34 million, a P/E ratio of -0.77 and a beta of 0.77.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.74 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. Analysts anticipate that QuidelOrtho Corporation will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors have recently added to or reduced their stakes in QDEL. Global Retirement Partners LLC increased its holdings in QuidelOrtho by 3,691.7% during the 4th quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after purchasing an additional 886 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in shares of QuidelOrtho in the 4th quarter valued at about $29,000. Hantz Financial Services Inc. lifted its holdings in shares of QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock valued at $31,000 after purchasing an additional 362 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of QuidelOrtho by 322.2% in the third quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock valued at $39,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Leonteq Securities AG boosted its position in shares of QuidelOrtho by 555.2% during the first quarter. Leonteq Securities AG now owns 3,466 shares of the company’s stock worth $57,000 after buying an additional 2,937 shares during the period. 99.00% of the stock is owned by 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.