QuidelOrtho (NASDAQ:QDEL) Stock Price Down 7.9% – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price traded down 7.9% during trading on Friday . The stock traded as low as $28.25 and last traded at $28.16. 104,107 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,048,510 shares. The stock had previously closed at $30.56.

Analyst Ratings Changes

QDEL has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. UBS Group boosted their target price on QuidelOrtho from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, Citigroup reiterated a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.00.

QuidelOrtho Stock Down 6.3%

The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -1.68 and a beta of 0.59. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average of $28.77 and a two-hundred day moving average of $27.74.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. The company had revenue of $699.90 million for the quarter, compared to the consensus estimate of $667.45 million. QuidelOrtho had a positive return on equity of 5.75% and a negative net margin of 42.53%.The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, sell-side analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brian J. Blaser acquired 23,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average cost of $21.34 per share, for a total transaction of $501,490.00. Following the completion of the acquisition, the chief executive officer owned 29,533 shares in the company, valued at approximately $630,234.22. The trade was a 389.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph M. Busky acquired 4,770 shares of QuidelOrtho stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average cost of $26.06 per share, with a total value of $124,306.20. Following the transaction, the chief financial officer owned 6,920 shares of the company’s stock, valued at approximately $180,335.20. The trade was a 221.86% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 29,390 shares of company stock valued at $657,340. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors have recently made changes to their positions in QDEL. Yousif Capital Management LLC boosted its holdings in shares of QuidelOrtho by 1.8% during the 2nd quarter. Yousif Capital Management LLC now owns 26,428 shares of the company’s stock worth $762,000 after buying an additional 478 shares during the period. Salomon & Ludwin LLC raised its holdings in QuidelOrtho by 100.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock worth $30,000 after acquiring an additional 496 shares during the period. Moody National Bank Trust Division raised its holdings in QuidelOrtho by 1.0% in the 4th quarter. Moody National Bank Trust Division now owns 51,512 shares of the company’s stock worth $1,471,000 after acquiring an additional 526 shares during the period. Texas Permanent School Fund Corp lifted its position in QuidelOrtho by 1.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 30,379 shares of the company’s stock worth $876,000 after acquiring an additional 578 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $57,000 after acquiring an additional 623 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.