QuidelOrtho (NASDAQ:QDEL) Stock Price Down 6.8% – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL)’s share price fell 6.8% during trading on Friday . The stock traded as low as $20.42 and last traded at $20.6810. 310,854 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,344,179 shares. The stock had previously closed at $22.18.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on QDEL. JPMorgan Chase & Co. lowered their price objective on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, November 7th. Citigroup reiterated a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a research report on Tuesday, October 7th. UBS Group lifted their price objective on QuidelOrtho from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, QuidelOrtho has an average rating of “Reduce” and a consensus target price of $38.20.

QuidelOrtho Trading Down 3.8%

The business has a 50 day simple moving average of $27.47 and a two-hundred day simple moving average of $28.18. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.45 billion, a PE ratio of -3.26 and a beta of 0.35.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The business had revenue of $699.90 million during the quarter, compared to the consensus estimate of $667.45 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. On average, analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

A number of large investors have recently bought and sold shares of QDEL. Bfsg LLC grew its stake in shares of QuidelOrtho by 6.8% during the 2nd quarter. Bfsg LLC now owns 5,460 shares of the company’s stock valued at $157,000 after buying an additional 347 shares during the period. Quarry LP boosted its holdings in QuidelOrtho by 47.1% in the first quarter. Quarry LP now owns 1,436 shares of the company’s stock valued at $50,000 after acquiring an additional 460 shares during the last quarter. Yousif Capital Management LLC grew its position in QuidelOrtho by 1.8% during the second quarter. Yousif Capital Management LLC now owns 26,428 shares of the company’s stock valued at $762,000 after acquiring an additional 478 shares during the period. Salomon & Ludwin LLC grew its position in QuidelOrtho by 100.6% during the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after acquiring an additional 496 shares during the period. Finally, Texas Permanent School Fund Corp increased its stake in QuidelOrtho by 1.9% during the second quarter. Texas Permanent School Fund Corp now owns 30,379 shares of the company’s stock worth $876,000 after acquiring an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

About QuidelOrtho

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.