QuidelOrtho (NASDAQ:QDEL) Trading Down 6% – Should You Sell?

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) dropped 6% during trading on Friday . The company traded as low as $10.50 and last traded at $10.4210. 930,298 shares traded hands during trading, a decline of 46% from the average daily volume of 1,719,001 shares. The stock had previously closed at $11.09.

Wall Street Analyst Weigh In

QDEL has been the subject of several recent research reports. Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. raised their price target on QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Jefferies Financial Group restated a “hold” rating on shares of QuidelOrtho in a report on Monday, June 29th. Citigroup raised their price objective on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $13.62.

QuidelOrtho Stock Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 0.76. The firm’s 50-day moving average price is $15.00 and its 200-day moving average price is $14.84. The stock has a market cap of $715.24 million, a P/E ratio of -0.68 and a beta of 0.68.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The business had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $618.72 million. During the same period last year, the company posted $0.12 EPS. The business’s revenue was up 2.8% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Sell-side analysts expect that QuidelOrtho Corporation will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in QDEL. Rice Hall James & Associates LLC acquired a new stake in shares of QuidelOrtho during the second quarter worth about $18,628,000. Tejara Capital Ltd acquired a new position in QuidelOrtho in the 2nd quarter worth approximately $2,275,000. Edgestream Partners L.P. purchased a new position in QuidelOrtho during the 1st quarter worth approximately $1,937,000. Newtyn Management LLC raised its position in QuidelOrtho by 45.3% during the 2nd quarter. Newtyn Management LLC now owns 6,625,000 shares of the company’s stock worth $116,037,000 after buying an additional 2,066,528 shares during the last quarter. Finally, BlackRock Inc. acquired a new stake in QuidelOrtho during the 2nd quarter valued at approximately $196,212,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Company Profile

QuidelOrtho Corporation (NASDAQ:QDEL) develops, manufactures and distributes diagnostic products and solutions used to detect and monitor disease. The company serves hospitals, clinical laboratories, physician offices, retail clinics, blood banks and other healthcare providers worldwide.

Its portfolio includes point-of-care and molecular testing systems, immunoassays, clinical chemistry and immunodiagnostic platforms, and transfusion medicine products. Key product lines include the Sofia and QuickVue systems from Quidel and the VITROS, ORTHO Vision and ORTHO Workstation platforms from Ortho Clinical Diagnostics.