QuidelOrtho (NASDAQ:QDEL) Shares Climb 6.5% – Still a Buy?

QuidelOrtho Corporation (NASDAQ:QDEL) traded up 6.5% on Tuesday. The stock traded as high as $13.81 and last traded at $14.1160. 547,436 shares were traded during trading, a decline of 69% from the average daily volume of 1,743,756 shares. The stock had previously closed at $13.25.

Analyst Upgrades and Downgrades

QDEL has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Friday. Citigroup boosted their target price on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Jefferies Financial Group restated a “hold” rating on shares of QuidelOrtho in a report on Monday, June 29th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Stock Up 7.0%

The firm has a market capitalization of $972.05 million, a PE ratio of -0.92 and a beta of 0.79. The company has a current ratio of 1.39, a quick ratio of 0.76 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average of $13.05 and a two-hundred day moving average of $13.96.

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

Institutional Trading of QuidelOrtho

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in QuidelOrtho during the second quarter valued at approximately $196,212,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of QuidelOrtho in the second quarter worth $44,168,000. Newtyn Management LLC increased its position in shares of QuidelOrtho by 45.3% in the second quarter. Newtyn Management LLC now owns 6,625,000 shares of the company’s stock worth $116,037,000 after acquiring an additional 2,066,528 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of QuidelOrtho in the second quarter worth $18,628,000. Finally, Private Management Group Inc. raised its stake in shares of QuidelOrtho by 49.5% in the 2nd quarter. Private Management Group Inc. now owns 2,070,391 shares of the company’s stock valued at $36,263,000 after acquiring an additional 685,622 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho Corporation (NASDAQ:QDEL) develops, manufactures and distributes diagnostic products used by healthcare providers, clinical laboratories and blood-processing organizations. The company’s offerings are designed to support the detection, diagnosis and monitoring of infectious diseases, cardiovascular conditions and other medical conditions.

Its product portfolio includes point-of-care testing systems, molecular diagnostic assays, immunoassays, clinical chemistry and immunodiagnostic platforms, as well as transfusion medicine products.