Brokerages Set QuidelOrtho Corporation (NASDAQ:QDEL) Target Price at $13.62

QuidelOrtho Corporation (NASDAQ:QDEL) has earned a consensus rating of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $13.6250.

A number of research firms have issued reports on QDEL. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Citigroup boosted their price objective on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Wall Street Zen raised QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Jefferies Financial Group restated a “hold” rating on shares of QuidelOrtho in a report on Monday, June 29th. Finally, 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 research note on Wednesday, July 1st.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of QuidelOrtho in the 2nd quarter valued at about $196,212,000. Newtyn Management LLC lifted its holdings in shares of QuidelOrtho by 45.3% in the second quarter. Newtyn Management LLC now owns 6,625,000 shares of the company’s stock valued at $116,037,000 after purchasing an additional 2,066,528 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of QuidelOrtho by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock worth $50,085,000 after buying an additional 212,481 shares during the period. Paradigm Capital Management Inc. NY acquired a new position in shares of QuidelOrtho during the second quarter worth about $44,168,000. Finally, Private Management Group Inc. grew its holdings in shares of QuidelOrtho by 49.5% during the second quarter. Private Management Group Inc. now owns 2,070,391 shares of the company’s stock worth $36,263,000 after buying an additional 685,622 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Trading Up 2.3%

QDEL opened at $10.86 on Thursday. The firm’s fifty day moving average is $14.71 and its two-hundred day moving average is $14.68. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.76 and a current ratio of 1.39. The firm has a market cap of $744.67 million, a PE ratio of -0.70 and a beta of 0.68. QuidelOrtho has a twelve month low of $9.92 and a twelve month high of $35.58.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The company had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $618.72 million. During the same period last year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Equities research analysts anticipate that QuidelOrtho will post 0.75 EPS for the current year.

QuidelOrtho Company Profile

QuidelOrtho Corporation (NASDAQ:QDEL) develops, manufactures and distributes diagnostic products and solutions used to detect and monitor disease. The company serves hospitals, clinical laboratories, physician offices, retail clinics, blood banks and other healthcare providers worldwide.

Its portfolio includes point-of-care and molecular testing systems, immunoassays, clinical chemistry and immunodiagnostic platforms, and transfusion medicine products. Key product lines include the Sofia and QuickVue systems from Quidel and the VITROS, ORTHO Vision and ORTHO Workstation platforms from Ortho Clinical Diagnostics.