QuidelOrtho (NASDAQ:QDEL) Stock Price Up 4.3% – Here’s Why

QuidelOrtho Corporation (NASDAQ:QDEL)’s share price was up 4.3% during mid-day trading on Thursday. The company traded as high as $10.77 and last traded at $10.7860. 68,206 shares were traded during trading, a decline of 96% from the average daily volume of 1,711,570 shares. The stock had previously closed at $10.34.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a report on Monday, June 29th. Citigroup raised their target price on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Zacks Research downgraded shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, QuidelOrtho presently has a consensus rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Trading Up 2.3%

The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.76 and a current ratio of 1.39. The company has a 50-day simple moving average of $14.14 and a 200 day simple moving average of $14.44. The company has a market capitalization of $750.16 million, a P/E ratio of -0.71 and a beta of 0.68.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.18. The company had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $618.72 million. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%.QuidelOrtho’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Sell-side analysts expect that QuidelOrtho Corporation will post 0.75 earnings per share for the current year.

Institutional Trading of QuidelOrtho

A number of hedge funds have recently bought and sold shares of QDEL. BlackRock Inc. bought a new position in shares of QuidelOrtho during the 2nd quarter worth about $196,212,000. Paradigm Capital Management Inc. NY acquired a new stake in QuidelOrtho during the second quarter worth about $44,168,000. Newtyn Management LLC grew its position in QuidelOrtho by 45.3% during the second quarter. Newtyn Management LLC now owns 6,625,000 shares of the company’s stock worth $116,037,000 after buying an additional 2,066,528 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in QuidelOrtho during the second quarter valued at about $18,628,000. Finally, Private Management Group Inc. increased its stake in QuidelOrtho by 49.5% during the second quarter. Private Management Group Inc. now owns 2,070,391 shares of the company’s stock valued at $36,263,000 after acquiring an additional 685,622 shares during the period. 99.00% of the stock is owned by institutional investors.

About QuidelOrtho

QuidelOrtho Corporation (NASDAQ:QDEL) develops, manufactures and distributes diagnostic products and solutions used to detect and monitor disease. The company serves hospitals, clinical laboratories, physician offices, retail clinics, blood banks and other healthcare providers worldwide.

Its portfolio includes point-of-care and molecular testing systems, immunoassays, clinical chemistry and immunodiagnostic platforms, and transfusion medicine products. Key product lines include the Sofia and QuickVue systems from Quidel and the VITROS, ORTHO Vision and ORTHO Workstation platforms from Ortho Clinical Diagnostics.