Q3 2024 Earnings Forecast for QuidelOrtho Co. Issued By William Blair (NASDAQ:QDEL)

QuidelOrtho Co. (NASDAQ:QDEL) – Research analysts at William Blair raised their Q3 2024 earnings per share estimates for QuidelOrtho in a research report issued on Thursday, April 18th. William Blair analyst A. Brackmann now anticipates that the company will post earnings of $0.80 per share for the quarter, up from their previous estimate of $0.66. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for QuidelOrtho’s current full-year earnings is $2.36 per share. William Blair also issued estimates for QuidelOrtho’s FY2024 earnings at $2.39 EPS and FY2025 earnings at $3.44 EPS.

Several other brokerages have also recently commented on QDEL. Craig Hallum reiterated a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Royal Bank of Canada cut their price target on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut QuidelOrtho from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $66.00 to $37.00 in a report on Wednesday, February 14th. Raymond James restated an “outperform” rating and set a $76.00 price target (down from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, UBS Group restated a “sell” rating and set a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.60.

QuidelOrtho Stock Down 1.2 %

Shares of QDEL stock opened at $38.26 on Friday. The business’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $61.03. QuidelOrtho has a one year low of $38.10 and a one year high of $95.02. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The company had revenue of $742.60 million during the quarter, compared to the consensus estimate of $796.91 million. During the same quarter in the previous year, the company earned $1.74 earnings per share. The business’s revenue was down 14.3% on a year-over-year basis.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors have recently modified their holdings of the company. Money Concepts Capital Corp raised its position in QuidelOrtho by 66.8% in the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Global Retirement Partners LLC raised its position in QuidelOrtho by 109.0% in the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock valued at $26,000 after buying an additional 181 shares during the last quarter. Eagle Bay Advisors LLC raised its position in QuidelOrtho by 174.2% in the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after buying an additional 223 shares during the last quarter. First Horizon Advisors Inc. raised its position in QuidelOrtho by 48.6% in the 1st quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock valued at $73,000 after buying an additional 269 shares during the last quarter. Finally, KBC Group NV purchased a new stake in QuidelOrtho in the 4th quarter valued at $80,000. 99.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QuidelOrtho

In other news, CFO Joseph M. Busky bought 2,150 shares of the stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $46.35 per share, with a total value of $99,652.50. Following the completion of the transaction, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $99,652.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.