QuidelOrtho (NASDAQ:QDEL) Shares Down 7.9% – What’s Next?

QuidelOrtho Corporation (NASDAQ:QDEL)’s stock price dropped 7.9% during trading on Wednesday . The stock traded as low as $15.63 and last traded at $15.6650. Approximately 548,317 shares were traded during trading, a decline of 70% from the average session volume of 1,841,753 shares. The stock had previously closed at $17.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on QDEL shares. Wall Street Zen raised QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Citigroup raised their price objective on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. raised 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. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Stock Performance

The company has a market cap of $1.11 billion, a P/E ratio of -0.91 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43. The firm has a 50 day moving average price of $13.30 and a 200-day moving average price of $19.72.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). The firm 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%.QuidelOrtho’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, research analysts predict that QuidelOrtho Corporation will post 1.87 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

Large investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its position in QuidelOrtho by 7.4% in the 4th 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 during the last quarter. Invesco Ltd. grew its position in QuidelOrtho by 19.4% during the fourth quarter. Invesco Ltd. now owns 3,470,656 shares of the company’s stock worth $99,122,000 after buying an additional 563,893 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in QuidelOrtho by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock valued at $50,085,000 after acquiring an additional 212,481 shares during the period. State Street Corp raised its holdings in QuidelOrtho by 1.3% in the 4th quarter. State Street Corp now owns 2,704,355 shares of the company’s stock valued at $77,236,000 after acquiring an additional 35,616 shares in the last quarter. Finally, Newtyn Management LLC lifted its position in shares of QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after acquiring an additional 994,332 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Company Profile

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.