QuidelOrtho (NASDAQ:QDEL) Trading Down 6.8% – What’s Next?

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) dropped 6.8% during mid-day trading on Friday . The stock traded as low as $20.42 and last traded at $20.6810. Approximately 310,854 shares changed hands during trading, a decline of 77% from the average daily volume of 1,344,179 shares. The stock had previously closed at $22.18.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen downgraded 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. Zacks Research lowered shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. Finally, UBS Group increased their price target on QuidelOrtho from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $38.20.

QuidelOrtho Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. The firm has a market capitalization of $1.42 billion, a P/E ratio of -3.19 and a beta of 0.35. The business has a fifty day moving average of $27.62 and a 200-day moving average of $28.24.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $667.45 million. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. On average, sell-side analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bfsg LLC lifted its position in QuidelOrtho by 6.8% in the second quarter. Bfsg LLC now owns 5,460 shares of the company’s stock worth $157,000 after purchasing an additional 347 shares during the period. Quarry LP raised its stake in shares of QuidelOrtho by 47.1% in the 1st quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after buying an additional 460 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of QuidelOrtho by 1.8% in the second quarter. Yousif Capital Management LLC now owns 26,428 shares of the company’s stock valued at $762,000 after buying an additional 478 shares during the period. Salomon & Ludwin LLC boosted its stake in QuidelOrtho by 100.6% during the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after buying an additional 496 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in QuidelOrtho by 1.9% during the second quarter. Texas Permanent School Fund Corp now owns 30,379 shares of the company’s stock worth $876,000 after acquiring an additional 578 shares during the period. 99.00% of the stock is currently 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.