QuidelOrtho (NASDAQ:QDEL) Shares Gap Down – Here’s Why

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) gapped down prior to trading on Friday . The stock had previously closed at $16.32, but opened at $12.67. QuidelOrtho shares last traded at $11.9830, with a volume of 631,070 shares traded.

Analysts Set New Price Targets

QDEL has been the subject of a number of recent analyst reports. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. JPMorgan Chase & Co. lifted their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Jefferies Financial Group reissued a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $13.62.

QuidelOrtho Price Performance

The stock has a market cap of $862.54 million, a PE ratio of -0.71 and a beta of 0.68. The business has a fifty day simple moving average of $15.77 and a two-hundred day simple moving average of $17.59. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The company had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $618.72 million. During the same quarter last year, the business posted $0.12 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Research analysts forecast that QuidelOrtho Corporation will post 1.87 earnings per share for the current year.

Institutional Trading of QuidelOrtho

A number of hedge funds have recently modified their holdings of QDEL. Invesco Ltd. increased its holdings in shares of QuidelOrtho by 87.0% during the third quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock valued at $85,604,000 after acquiring an additional 1,352,503 shares in the last quarter. Newtyn Management LLC boosted its stake in QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after purchasing an additional 994,332 shares in the last quarter. Goldman Sachs Group Inc. grew its position in QuidelOrtho by 101.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,755,401 shares of the company’s stock valued at $50,134,000 after purchasing an additional 883,077 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in QuidelOrtho by 7.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company’s stock valued at $337,925,000 after purchasing an additional 819,908 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in QuidelOrtho by 84.1% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,525,900 shares of the company’s stock valued at $25,071,000 after purchasing an additional 697,010 shares in the last quarter. 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.