QuidelOrtho Corporation (NASDAQ:QDEL – Get Free Report)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $9.92 and last traded at $9.96, with a volume of 2474955 shares changing hands. The stock had previously closed at $10.80.
Analyst Ratings Changes
Several research analysts have recently weighed in on QDEL shares. Citigroup reduced their price target on shares of QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Jefferies Financial Group cut shares of QuidelOrtho from a “buy” rating to a “hold” rating and reduced their price target for the company from $35.00 to $12.50 in a report on Thursday. Wall Street Zen cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Zacks Research downgraded shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $14.88.
Read Our Latest Analysis on QuidelOrtho
QuidelOrtho Trading Down 7.8%
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $665.23 million. QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, research analysts expect that QuidelOrtho Corporation will post 1.9 EPS for the current fiscal year.
Insider Activity
In related news, CEO Brian J. Blaser acquired 10,540 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were bought at an average cost of $23.59 per share, with a total value of $248,638.60. Following the completion of the transaction, the chief executive officer directly owned 40,073 shares of the company’s stock, valued at $945,322.07. This trade represents a 35.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph M. Busky acquired 3,370 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was bought at an average cost of $23.66 per share, for a total transaction of $79,734.20. Following the completion of the transaction, the chief financial officer directly owned 10,290 shares of the company’s stock, valued at approximately $243,461.40. This trade represents a 48.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 23,910 shares of company stock valued at $567,973 over the last ninety days. 0.79% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On QuidelOrtho
Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its position in shares of QuidelOrtho by 3,691.7% in the fourth quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock valued at $26,000 after purchasing an additional 886 shares during the period. Camelot Portfolios LLC bought a new position in QuidelOrtho during the fourth quarter worth about $29,000. Hantz Financial Services Inc. increased its position in QuidelOrtho by 50.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after acquiring an additional 362 shares during the period. Nisa Investment Advisors LLC increased its position in QuidelOrtho by 118.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after acquiring an additional 693 shares during the period. Finally, Larson Financial Group LLC increased its position in QuidelOrtho by 322.2% during the third quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock worth $39,000 after acquiring an additional 1,015 shares during the period. 99.00% of the stock is owned by institutional investors.
About QuidelOrtho
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.
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