QuidelOrtho (NASDAQ:QDEL) Stock Price Up 8.6% – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL) traded up 8.6% on Tuesday. The company traded as high as $13.80 and last traded at $13.8540. 416,864 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,751,490 shares. The stock had previously closed at $12.76.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuidelOrtho currently has an average rating of “Reduce” and an average price target of $13.62.

QuidelOrtho Price Performance

The stock has a market capitalization of $972.67 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 company’s 50 day simple moving average is $12.86 and its 200 day simple moving average is $13.89.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.72 million. During the same quarter in the prior year, the company posted $0.12 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, equities analysts anticipate that QuidelOrtho Corporation will post 0.75 earnings per share for the current year.

Institutional Trading of QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in the business. Net Worth Advisory Group purchased a new position in shares of QuidelOrtho in the 3rd quarter worth $113,000. Integrated Wealth Concepts LLC purchased a new stake in QuidelOrtho during the second quarter valued at about $53,000. IFP Advisors Inc grew its position in QuidelOrtho by 14,166.7% during the second quarter. IFP Advisors Inc now owns 2,568 shares of the company’s stock valued at $45,000 after acquiring an additional 2,550 shares during the period. Squarepoint Ops LLC acquired a new stake in QuidelOrtho during the second quarter worth about $1,493,000. Finally, Allworth Financial LP increased its stake in QuidelOrtho by 161.3% during the second quarter. Allworth Financial LP now owns 3,209 shares of the company’s stock worth $56,000 after acquiring an additional 1,981 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

About QuidelOrtho

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.