QuidelOrtho (NASDAQ:QDEL) Shares Climb 8.6% – Here’s What Happened

QuidelOrtho Corporation (NASDAQ:QDEL)’s share price traded up 8.6% during mid-day trading on Tuesday. The company traded as high as $13.80 and last traded at $13.8540. Approximately 416,864 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,751,490 shares. The stock had previously closed at $12.76.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QDEL. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a report on Thursday, October 15th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Citigroup upped their target price on shares of QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Trading Down 0.9%

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 company has a market cap of $965.54 million, a P/E ratio of -0.91 and a beta of 0.79. The business has a 50-day moving average price of $12.85 and a two-hundred day moving average price of $13.85.

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

Institutional Trading of QuidelOrtho

Institutional investors have recently bought and sold shares of the business. Skylands Capital LLC raised its stake in QuidelOrtho by 3.9% during the 3rd quarter. Skylands Capital LLC now owns 582,464 shares of the company’s stock worth $6,139,000 after buying an additional 22,050 shares during the period. Net Worth Advisory Group acquired a new position in QuidelOrtho in the third quarter valued at about $113,000. Integrated Wealth Concepts LLC acquired a new position in QuidelOrtho in the second quarter valued at about $53,000. IFP Advisors Inc increased its holdings in shares of QuidelOrtho by 14,166.7% in the second quarter. IFP Advisors Inc now owns 2,568 shares of the company’s stock worth $45,000 after acquiring an additional 2,550 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of QuidelOrtho in the second quarter worth about $1,493,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho Corporation (NASDAQ:QDEL) is a global in vitro diagnostics company formed through the combination of Quidel Corporation and Ortho Clinical Diagnostics, a transaction completed in 2022. The company develops, manufactures and markets diagnostic technologies used to detect disease, guide treatment decisions and support blood-transfusion safety.

Its portfolio includes rapid immunoassays, molecular testing systems, clinical chemistry and immunohematology products, as well as laboratory automation solutions.