QuidelOrtho (NASDAQ:QDEL) Stock Price Up 9.4% – Here’s What Happened

QuidelOrtho Corporation (NASDAQ:QDEL) rose 9.4% on Thursday . The stock traded as high as $13.55 and last traded at $13.4890. Approximately 637,880 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,845,824 shares. The stock had previously closed at $12.33.

Wall Street Analysts Forecast Growth

QDEL has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Citigroup decreased their target price on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. UBS Group restated a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a research report on Thursday, May 7th. Finally, Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, QuidelOrtho has a consensus rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Stock Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.80. The stock has a market cap of $912.40 million, a price-to-earnings ratio of -0.75 and a beta of 0.75. The firm has a fifty day moving average of $13.61 and a 200 day moving average of $21.94.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 company had revenue of $619.80 million during the quarter, compared to analyst estimates of $665.23 million. During the same period in the prior year, the business posted $0.74 EPS. QuidelOrtho’s revenue for the quarter 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, sell-side analysts forecast that QuidelOrtho Corporation will post 1.83 EPS for the current year.

Institutional Investors Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC increased its stake in QuidelOrtho by 29.2% during the first quarter. Segall Bryant & Hamill LLC now owns 1,543,410 shares of the company’s stock worth $25,358,000 after acquiring an additional 348,549 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in QuidelOrtho during the first quarter worth $1,937,000. Amundi increased its stake in 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 last quarter. California State Teachers Retirement System increased its stake in QuidelOrtho by 49.7% during the first quarter. California State Teachers Retirement System now owns 92,989 shares of the company’s stock worth $1,528,000 after acquiring an additional 30,857 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in QuidelOrtho by 3.2% during the first quarter. Empowered Funds LLC now owns 254,217 shares of the company’s stock worth $4,177,000 after acquiring an additional 7,956 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

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.