QuidelOrtho (NASDAQ:QDEL) Raised to Hold at Zacks Research

QuidelOrtho (NASDAQ:QDEL) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on QDEL. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research note on Tuesday, April 21st. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Jefferies Financial Group downgraded QuidelOrtho from a “buy” rating to a “hold” rating and reduced their target price for the stock from $35.00 to $12.50 in a research note on Thursday, May 7th. UBS Group reaffirmed a “neutral” rating and set a $12.00 target price on shares of QuidelOrtho in a research note on Thursday, May 7th. Finally, Citigroup reduced their target price on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Trading Down 3.1%

Shares of QDEL stock opened at $14.12 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.80. The company has a market cap of $962.84 million, a price-to-earnings ratio of -0.79 and a beta of 0.77. The stock has a 50 day simple moving average of $12.91 and a 200-day simple moving average of $21.06. QuidelOrtho has a 1-year low of $9.92 and a 1-year high of $35.58.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.41). The business had revenue of $619.80 million for the quarter, compared to analyst estimates of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, equities research analysts expect that QuidelOrtho will post 1.83 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

Several large investors have recently made changes to their positions in QDEL. Invesco Ltd. increased its position in shares of QuidelOrtho by 87.0% during the third quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock worth $85,604,000 after purchasing an additional 1,352,503 shares in the last quarter. Newtyn Management LLC increased its position in shares of QuidelOrtho by 58.3% during the third 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. increased its position in shares of QuidelOrtho by 101.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,755,401 shares of the company’s stock worth $50,134,000 after purchasing an additional 883,077 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of QuidelOrtho by 7.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company’s stock worth $337,925,000 after purchasing an additional 819,908 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its position in shares of QuidelOrtho by 84.1% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,525,900 shares of the company’s stock worth $25,071,000 after purchasing an additional 697,010 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

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.