QuidelOrtho Corporation (NASDAQ:QDEL – Get Free Report)’s stock price traded down 7.9% during mid-day trading on Wednesday . The company traded as low as $15.63 and last traded at $15.6650. 548,317 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,841,753 shares. The stock had previously closed at $17.00.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $13.62.
Check Out Our Latest Stock Analysis on QDEL
QuidelOrtho Stock Performance
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.41). The company had revenue of $619.80 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. As a group, equities analysts forecast that QuidelOrtho Corporation will post 1.87 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of QDEL. Invesco Ltd. boosted its stake in shares of QuidelOrtho by 87.0% during the 3rd quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock valued at $85,604,000 after buying an additional 1,352,503 shares during the last quarter. Newtyn Management LLC raised its stake in QuidelOrtho by 58.3% during the third quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock valued at $79,515,000 after buying an additional 994,332 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in QuidelOrtho by 101.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,755,401 shares of the company’s stock worth $50,134,000 after buying an additional 883,077 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in QuidelOrtho by 7.4% during 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 buying an additional 819,908 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY grew its position in shares of QuidelOrtho by 84.1% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,525,900 shares of the company’s stock worth $25,071,000 after acquiring an additional 697,010 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.
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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