JPMorgan Chase & Co. Forecasts Strong Price Appreciation for QuidelOrtho (NASDAQ:QDEL) Stock

QuidelOrtho (NASDAQ:QDEL) had its price target hoisted by analysts at JPMorgan Chase & Co. from $11.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 36.94% from the stock’s previous close.

Several other analysts have also weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Monday. UBS Group reiterated a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a report on Thursday, May 7th. Finally, Citigroup cut their target price on shares of QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, QuidelOrtho currently has an average rating of “Reduce” and an average target price of $12.38.

QuidelOrtho Stock Performance

QuidelOrtho stock traded up $1.52 during mid-day trading on Wednesday, hitting $19.03. 174,118 shares of the company’s stock traded hands, compared to its average volume of 1,859,485. QuidelOrtho has a one year low of $9.92 and a one year high of $35.58. The company has a market cap of $1.30 billion, a PE ratio of -1.07 and a beta of 0.77. The firm has a 50 day moving average price of $12.70 and a 200 day moving average price of $20.11. 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 announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) 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 quarter in the prior year, the company earned $0.74 EPS. The business’s quarterly 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 forecast that QuidelOrtho will post 1.83 EPS for the current year.

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in QuidelOrtho by 1,218.7% during the first quarter. Royal Bank of Canada now owns 80,193 shares of the company’s stock valued at $2,803,000 after buying an additional 74,112 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of QuidelOrtho by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,398 shares of the company’s stock valued at $7,987,000 after acquiring an additional 21,968 shares in the last quarter. Focus Partners Wealth boosted its stake in QuidelOrtho by 210.9% in the 1st quarter. Focus Partners Wealth now owns 20,454 shares of the company’s stock worth $715,000 after purchasing an additional 13,876 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in QuidelOrtho during the 2nd quarter worth approximately $1,313,000. Finally, EverSource Wealth Advisors LLC grew its position in QuidelOrtho by 250.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock worth $93,000 after purchasing an additional 2,309 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

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.