QuidelOrtho (NASDAQ:QDEL) Announces Earnings Results

QuidelOrtho (NASDAQ:QDEL) released its earnings results on Tuesday. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11, FiscalAI reports. The company had revenue of $618.90 million for the quarter, compared to the consensus estimate of $627.83 million. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%.

QuidelOrtho Stock Performance

Shares of QDEL stock traded up $0.06 during trading hours on Tuesday, reaching $14.09. The stock had a trading volume of 3,536,049 shares, compared to its average volume of 1,783,132. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 0.76. The firm has a 50-day simple moving average of $12.74 and a 200-day simple moving average of $16.38. The firm has a market capitalization of $966.22 million, a PE ratio of -0.91 and a beta of 0.79. QuidelOrtho has a twelve month low of $9.92 and a twelve month high of $35.58.

Analyst Ratings Changes

QDEL has been the topic of several research analyst reports. Citigroup raised their price objective on QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Thursday, October 15th. Finally, Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $13.62.

QuidelOrtho Company Profile

QuidelOrtho Corporation (NASDAQ:QDEL) is a global in vitro diagnostics company formed through the combination of Quidel Corporation and Ortho Clinical Diagnostics, a transaction completed in 2022. The company develops, manufactures and markets diagnostic technologies used to detect disease, guide treatment decisions and support blood-transfusion safety.

Its portfolio includes rapid immunoassays, molecular testing systems, clinical chemistry and immunohematology products, as well as laboratory automation solutions.