QuidelOrtho (NASDAQ:QDEL) Trading Up 8.5% – Here’s Why

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price rose 8.5% during mid-day trading on Monday . The company traded as high as $13.34 and last traded at $13.32. 1,401,162 shares were traded during trading, a decline of 21% from the average session volume of 1,774,812 shares. The stock had previously closed at $12.28.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup boosted their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a report on Monday, June 29th. Wall Street Zen upgraded shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. UBS Group reissued a “neutral” rating and set a $12.00 target price on shares of QuidelOrtho in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Stock Performance

The company has a quick ratio of 0.76, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $15.75 and a two-hundred day moving average price of $17.44. The firm has a market cap of $920.16 million, a PE ratio of -0.86 and a beta of 0.68.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.18. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%.The firm had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $618.72 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Research analysts forecast that QuidelOrtho Corporation will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

A number of large investors have recently modified their holdings of the business. Hantz Financial Services Inc. grew its position in shares of QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock valued at $31,000 after purchasing an additional 362 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of QuidelOrtho by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock worth $376,000 after purchasing an additional 388 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in QuidelOrtho by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock valued at $1,093,000 after purchasing an additional 424 shares during the period. California State Teachers Retirement System boosted its stake in QuidelOrtho by 1.2% during the 2nd quarter. California State Teachers Retirement System now owns 62,188 shares of the company’s stock valued at $1,792,000 after purchasing an additional 725 shares during the period. Finally, Moody National Bank Trust Division grew its holdings 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 last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

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.