QuidelOrtho (NASDAQ:QDEL) Stock Price Up 6.9% – Here’s What Happened

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price traded up 6.9% during trading on Thursday . The company traded as high as $14.68 and last traded at $14.7510. Approximately 332,858 shares were traded during trading, a decline of 81% from the average session volume of 1,756,670 shares. The stock had previously closed at $13.80.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on QDEL shares. UBS Group reissued a “neutral” rating and issued a $12.00 price target on shares of QuidelOrtho in a report on Thursday, May 7th. Citigroup lifted their price objective on QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Jefferies Financial Group reissued a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, QuidelOrtho has an average rating of “Reduce” and an average target price of $13.62.

QuidelOrtho Stock Up 7.4%

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -0.96 and a beta of 0.68. 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 firm has a fifty day moving average price of $15.80 and a 200-day moving average price of $16.61.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of QuidelOrtho by 7.4% in 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 acquiring an additional 819,908 shares during the last quarter. BlackRock Inc. acquired a new position in shares of QuidelOrtho in the 2nd quarter valued at $196,212,000. Invesco Ltd. boosted its holdings in shares of QuidelOrtho by 19.4% in the 4th quarter. Invesco Ltd. now owns 3,470,656 shares of the company’s stock valued at $99,122,000 after purchasing an additional 563,893 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of QuidelOrtho by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock valued at $50,085,000 after buying an additional 212,481 shares during the period. Finally, State Street Corp increased its holdings in shares of QuidelOrtho by 1.3% during the 4th quarter. State Street Corp now owns 2,704,355 shares of the company’s stock worth $77,236,000 after buying an additional 35,616 shares during 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.