QuidelOrtho (NASDAQ:QDEL) Shares Down 5.6% – Time to Sell?

QuidelOrtho Corporation (NASDAQ:QDEL) shares dropped 5.6% during trading on Tuesday . The company traded as low as $15.85 and last traded at $15.6520. 550,902 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,797,895 shares. The stock had previously closed at $16.58.

Wall Street Analyst Weigh In

QDEL has been the subject of a number of recent analyst reports. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Citigroup raised their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Friday. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a report on Monday, June 29th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $13.62.

QuidelOrtho Stock Down 5.3%

The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -0.88 and a beta of 0.69. The stock has a 50 day moving average of $14.44 and a 200 day moving average of $19.00.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). The firm had revenue of $619.80 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. As a group, analysts expect that QuidelOrtho Corporation will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of QuidelOrtho

Several institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its holdings in shares of 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 period. ProShare Advisors LLC grew its holdings in QuidelOrtho by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock worth $376,000 after acquiring an additional 388 shares during the period. State of Alaska Department of Revenue grew its holdings in QuidelOrtho by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock worth $1,093,000 after acquiring an additional 424 shares during the period. Moody National Bank Trust Division raised its position in QuidelOrtho by 1.0% in the fourth quarter. Moody National Bank Trust Division now owns 51,512 shares of the company’s stock worth $1,471,000 after acquiring an additional 526 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in QuidelOrtho by 1.2% in the second quarter. California State Teachers Retirement System now owns 62,188 shares of the company’s stock worth $1,792,000 after acquiring an additional 725 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

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.