JPMorgan Chase & Co. Increases QuidelOrtho (NASDAQ:QDEL) Price Target to $12.00

QuidelOrtho (NASDAQ:QDEL) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $11.00 to $12.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 36.94% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. UBS Group reissued a “neutral” rating and issued a $12.00 target price on shares of QuidelOrtho in a research report on Thursday, May 7th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Jefferies Financial Group reiterated a “hold” rating on shares of QuidelOrtho in a research note on Monday. Finally, Citigroup lowered their price objective on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $12.38.

QuidelOrtho Stock Up 8.7%

QDEL stock traded up $1.52 during trading on Wednesday, reaching $19.03. The stock had a trading volume of 174,118 shares, compared to its average volume of 1,859,485. The firm has a fifty day moving average price of $12.70 and a 200 day moving average price of $20.11. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $1.30 billion, a P/E ratio of -1.07 and a beta of 0.77. QuidelOrtho has a 1-year low of $9.92 and a 1-year high of $35.58.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.41). The business had revenue of $619.80 million during 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 revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, equities analysts anticipate that QuidelOrtho will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On QuidelOrtho

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its holdings in shares of QuidelOrtho by 3,691.7% in the 4th quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock worth $26,000 after purchasing an additional 886 shares during the last quarter. Camelot Portfolios LLC bought a new stake in QuidelOrtho in the fourth quarter valued at $29,000. Hantz Financial Services Inc. lifted its stake in QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock valued at $31,000 after buying an additional 362 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of QuidelOrtho by 322.2% during the third quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock valued at $39,000 after acquiring an additional 1,015 shares during the period. Finally, Leonteq Securities AG boosted its holdings in shares of QuidelOrtho by 555.2% during the first quarter. Leonteq Securities AG now owns 3,466 shares of the company’s stock valued at $57,000 after acquiring an additional 2,937 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.