QuidelOrtho (NASDAQ:QDEL) Shares Down 7.9% – Should You Sell?

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price was down 7.9% during trading on Wednesday . The company traded as low as $15.63 and last traded at $15.6650. Approximately 548,317 shares were traded during mid-day trading, a decline of 70% from the average session volume of 1,841,753 shares. The stock had previously closed at $17.00.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a report on Thursday, May 7th. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Jefferies Financial Group reissued a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Trading Up 5.2%

The company’s 50 day simple moving average is $13.51 and its 200-day simple moving average is $19.56. The firm has a market cap of $1.25 billion, a P/E ratio of -1.04 and a beta of 0.69. 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 released its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. The business had revenue of $619.80 million for the quarter, compared to the consensus estimate of $665.23 million. During the same period in the prior year, the company posted $0.74 EPS. The company’s quarterly 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, research analysts predict that QuidelOrtho Corporation will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of QuidelOrtho by 67.7% in the second quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock worth $38,000 after purchasing an additional 882 shares during the last quarter. Moody National Bank Trust Division boosted its position in QuidelOrtho by 1.1% in the 2nd quarter. Moody National Bank Trust Division now owns 70,748 shares of the company’s stock valued at $1,239,000 after buying an additional 789 shares during the period. Segall Bryant & Hamill LLC boosted its position in QuidelOrtho by 29.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,543,410 shares of the company’s stock valued at $25,358,000 after buying an additional 348,549 shares during the period. Edgestream Partners L.P. bought a new position in QuidelOrtho in the 1st quarter worth about $1,937,000. Finally, Amundi increased its position in shares of QuidelOrtho by 50.0% during the first quarter. Amundi now owns 20,989 shares of the company’s stock worth $345,000 after acquiring an additional 6,996 shares during the period. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Company Profile

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.