QuidelOrtho (NASDAQ:QDEL) Trading Down 15.7% – Should You Sell?

QuidelOrtho Corporation (NASDAQ:QDEL)’s share price dropped 15.7% during mid-day trading on Thursday . The stock traded as low as $23.40 and last traded at $23.0730. Approximately 769,622 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 1,298,360 shares. The stock had previously closed at $27.37.

Analyst Upgrades and Downgrades

QDEL has been the subject of several recent analyst reports. Citigroup reaffirmed 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. Zacks Research lowered shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. UBS Group lifted their price target on shares of QuidelOrtho from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday. Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $38.80.

QuidelOrtho Price Performance

The firm’s fifty day moving average price is $28.44 and its 200 day moving average price is $28.46. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.52 billion, a PE ratio of -3.42 and a beta of 0.35.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The company had revenue of $699.90 million for the quarter, compared to the consensus estimate of $667.45 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. QuidelOrtho’s revenue was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, equities analysts expect that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC increased its stake 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 buying an additional 496 shares during the period. Allworth Financial LP grew its holdings in QuidelOrtho by 2,460.9% during the 2nd quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock worth $34,000 after acquiring an additional 1,132 shares in the last quarter. Summit Securities Group LLC bought a new position in QuidelOrtho during the 1st quarter worth about $36,000. Nisa Investment Advisors LLC grew its holdings in QuidelOrtho by 118.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after acquiring an additional 693 shares in the last quarter. Finally, Quarry LP grew its holdings in QuidelOrtho by 47.1% during the 1st quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after acquiring an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

About QuidelOrtho

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.