QuidelOrtho (NASDAQ:QDEL) Trading Down 5.6% – Here’s Why

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) traded down 5.6% on Tuesday . The stock traded as low as $15.85 and last traded at $15.6520. 550,902 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,797,895 shares. The stock had previously closed at $16.58.

Wall Street Analysts Forecast Growth

QDEL has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Friday, July 17th. Citigroup increased their target price on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. UBS Group reiterated a “neutral” rating and set a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $13.62.

QuidelOrtho Stock Performance

The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $1.14 billion, a P/E ratio of -0.94 and a beta of 0.69. The company’s 50-day moving average is $14.65 and its two-hundred day moving average is $18.83.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The business had revenue of $619.80 million during the quarter, compared to the consensus estimate of $665.23 million. During the same period last year, the company earned $0.74 earnings per share. The business’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, sell-side analysts anticipate that QuidelOrtho Corporation will post 1.87 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

A number of hedge funds and other institutional investors have recently made changes to their positions in QDEL. Global Retirement Partners LLC raised its holdings in QuidelOrtho by 3,691.7% during the fourth quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after purchasing an additional 886 shares in the last quarter. Camelot Portfolios LLC bought a new position in QuidelOrtho during the fourth quarter valued at about $29,000. Hantz Financial Services Inc. raised its position in QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after acquiring an additional 362 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of QuidelOrtho by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock valued at $38,000 after purchasing an additional 882 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of QuidelOrtho by 322.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock worth $39,000 after purchasing an additional 1,015 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.

About QuidelOrtho

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.