QuidelOrtho (NASDAQ:QDEL) Raised to Hold at Zacks Research

QuidelOrtho (NASDAQ:QDEL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

QDEL has been the subject of a number of other reports. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. UBS Group reaffirmed a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a research note on Thursday, May 7th. Citigroup cut their target price on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Jefferies Financial Group downgraded QuidelOrtho from a “buy” rating to a “hold” rating and cut their target price for the stock from $35.00 to $12.50 in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Stock Down 3.1%

Shares of QDEL opened at $14.12 on Monday. QuidelOrtho has a 52-week low of $9.92 and a 52-week high of $35.58. The company has a market capitalization of $962.84 million, a PE ratio of -0.79 and a beta of 0.77. The stock has a fifty day simple moving average of $12.91 and a two-hundred day simple moving average of $21.06. 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 issued 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 positive return on equity of 4.25% and a negative net margin of 45.57%.The company had revenue of $619.80 million during the quarter, compared to analyst estimates of $665.23 million. During the same period last year, the business earned $0.74 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. As a group, equities analysts forecast that QuidelOrtho will post 1.83 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC grew its holdings in shares of QuidelOrtho by 3,691.7% during the 4th quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after purchasing an additional 886 shares during the period. Camelot Portfolios LLC purchased a new position in shares of QuidelOrtho during the 4th quarter worth $29,000. Hantz Financial Services Inc. grew its holdings in shares of QuidelOrtho by 50.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after purchasing an additional 362 shares during the period. Larson Financial Group LLC grew its holdings in shares of QuidelOrtho by 322.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock worth $39,000 after purchasing an additional 1,015 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of QuidelOrtho during the 3rd quarter worth $63,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

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.