QuidelOrtho (NASDAQ:QDEL) Shares Climb 5.7% – Here’s What Happened

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) rose 5.7% during trading on Wednesday. The stock traded as high as $14.56 and last traded at $14.3680. 51,284 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,763,201 shares. The stock had previously closed at $13.59.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on QDEL shares. JPMorgan Chase & Co. raised their price objective on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a report on Thursday, October 15th. Zacks Research upgraded shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Citigroup upped their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.62.

QuidelOrtho Stock Performance

The firm has a market cap of $962.66 million, a P/E ratio of -0.91 and a beta of 0.79. The company has a 50-day moving average of $12.78 and a 200 day moving average of $16.77.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.18. The firm had revenue of $630.90 million during the quarter, compared to analyst estimates of $618.72 million. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Sell-side analysts anticipate that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QDEL. Moody National Bank Trust Division boosted its position in QuidelOrtho by 1.1% during the second quarter. Moody National Bank Trust Division now owns 70,748 shares of the company’s stock valued at $1,239,000 after purchasing an additional 789 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock worth $38,000 after purchasing an additional 882 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of QuidelOrtho by 8.8% in the 3rd quarter. Yousif Capital Management LLC now owns 21,982 shares of the company’s stock valued at $232,000 after buying an additional 1,780 shares during the last quarter. Allworth Financial LP grew its stake in shares of QuidelOrtho by 161.3% in the second quarter. Allworth Financial LP now owns 3,209 shares of the company’s stock valued at $56,000 after buying an additional 1,981 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of QuidelOrtho by 14,166.7% in the 2nd quarter. IFP Advisors Inc now owns 2,568 shares of the company’s stock valued at $45,000 after acquiring an additional 2,550 shares during the period. 99.00% of the stock is currently owned by institutional investors.

About QuidelOrtho

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.