QuidelOrtho Corporation (NASDAQ:QDEL – Get Free Report)’s share price was down 6.5% during mid-day trading on Tuesday . The stock traded as low as $17.03 and last traded at $17.05. 125,249 shares traded hands during trading, a decline of 93% from the average session volume of 1,860,770 shares. The stock had previously closed at $18.23.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday. Jefferies Financial Group restated a “hold” rating on shares of QuidelOrtho in a research report on Monday. Finally, UBS Group reaffirmed a “neutral” rating and set a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $12.38.
Read Our Latest Analysis on QDEL
QuidelOrtho Stock Up 3.8%
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. The business had revenue of $619.80 million during the quarter, compared to the consensus estimate of $665.23 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. Equities research analysts forecast that QuidelOrtho Corporation will post 1.83 earnings per share for the current year.
Hedge Funds Weigh In On QuidelOrtho
A number of institutional investors have recently modified their holdings of QDEL. T. Rowe Price Investment Management Inc. lifted its position in shares of QuidelOrtho by 7.4% during the fourth 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 in the last quarter. Invesco Ltd. raised its position in QuidelOrtho by 19.4% in the 4th quarter. Invesco Ltd. now owns 3,470,656 shares of the company’s stock worth $99,122,000 after purchasing an additional 563,893 shares during the last quarter. Dimensional Fund Advisors LP raised its position in QuidelOrtho by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock worth $50,085,000 after purchasing an additional 212,481 shares during the last quarter. State Street Corp lifted its holdings in QuidelOrtho by 1.3% during the 4th quarter. State Street Corp now owns 2,704,355 shares of the company’s stock worth $77,236,000 after buying an additional 35,616 shares in the last quarter. Finally, Newtyn Management LLC lifted its holdings in QuidelOrtho by 58.3% during the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after buying an additional 994,332 shares in the last quarter. 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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