QuidelOrtho (NASDAQ:QDEL) Shares Climb 6.5% – Here’s Why

QuidelOrtho Corporation (NASDAQ:QDEL) traded up 6.5% during mid-day trading on Tuesday. The stock traded as high as $13.81 and last traded at $14.1160. Approximately 547,436 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,743,756 shares. The stock had previously closed at $13.25.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup raised their price objective on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. JPMorgan Chase & Co. raised their target price on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Finally, Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $13.62.

QuidelOrtho Stock Up 7.0%

The firm has a market capitalization of $972.05 million, a PE ratio of -0.92 and a beta of 0.79. The firm’s 50 day moving average price is $13.05 and its two-hundred day moving average price is $13.96. 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 released its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The business had revenue of $630.90 million during the quarter, compared to analyst estimates of $618.72 million. During the same period last year, the business earned $0.12 EPS. The business’s revenue was up 2.8% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. As a group, research analysts forecast that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

Several large investors have recently modified their holdings of the business. Moody National Bank Trust Division lifted its stake in shares of QuidelOrtho by 1.1% in the second quarter. Moody National Bank Trust Division now owns 70,748 shares of the company’s stock worth $1,239,000 after acquiring an additional 789 shares in the last quarter. GAMMA Investing LLC boosted its holdings in QuidelOrtho by 67.7% in the second quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock valued at $38,000 after purchasing an additional 882 shares during the last quarter. Allworth Financial LP grew its stake in QuidelOrtho by 161.3% during the 2nd quarter. Allworth Financial LP now owns 3,209 shares of the company’s stock valued at $56,000 after purchasing an additional 1,981 shares in the last quarter. IFP Advisors Inc grew its stake in QuidelOrtho by 14,166.7% during the 2nd quarter. IFP Advisors Inc now owns 2,568 shares of the company’s stock valued at $45,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Leonteq Securities AG grew its stake in QuidelOrtho by 555.2% during the 1st quarter. Leonteq Securities AG now owns 3,466 shares of the company’s stock valued at $57,000 after purchasing an additional 2,937 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Company Profile

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.