QuidelOrtho (NASDAQ:QDEL) Stock Price Up 8.6% – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price rose 8.6% during mid-day trading on Tuesday. The company traded as high as $13.80 and last traded at $13.8540. 416,864 shares were traded during trading, a decline of 76% from the average session volume of 1,751,490 shares. The stock had previously closed at $12.76.

Wall Street Analyst Weigh In

QDEL has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Thursday. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. Citigroup boosted their price objective on shares of QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Finally, Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.62.

QuidelOrtho Stock Performance

The stock has a 50 day simple moving average of $12.86 and a 200 day simple moving average of $13.89. The company has a market cap of $972.67 million, a price-to-earnings ratio of -0.92 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

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

Institutional Trading of QuidelOrtho

Large investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC purchased a new stake in shares of QuidelOrtho during the second quarter valued at approximately $18,628,000. Tejara Capital Ltd purchased a new position in shares of QuidelOrtho in the second quarter valued at $2,275,000. Paradigm Capital Management Inc. NY purchased a new position in shares of QuidelOrtho in the second quarter valued at $44,168,000. Edgestream Partners L.P. acquired a new stake in QuidelOrtho during the 1st quarter valued at $1,937,000. Finally, Bank of New York Mellon Corp acquired a new stake in QuidelOrtho during the 2nd quarter valued at $7,720,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

About QuidelOrtho

QuidelOrtho Corporation (NASDAQ:QDEL) develops, manufactures and distributes diagnostic products used by healthcare providers, clinical laboratories and blood-processing organizations. The company’s offerings are designed to support the detection, diagnosis and monitoring of infectious diseases, cardiovascular conditions and other medical conditions.

Its product portfolio includes point-of-care testing systems, molecular diagnostic assays, immunoassays, clinical chemistry and immunodiagnostic platforms, as well as transfusion medicine products.