QuidelOrtho Corporation (NASDAQ:QDEL – Get Free Report) shares rose 4.3% during trading on Thursday . The stock traded as high as $10.77 and last traded at $10.7860. 68,206 shares traded hands during trading, a decline of 96% from the average session volume of 1,711,570 shares. The stock had previously closed at $10.34.
Analysts Set New Price Targets
A number of research firms have recently weighed in on QDEL. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Zacks Research cut shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Jefferies Financial Group reissued a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. JPMorgan Chase & Co. raised their target price on QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Finally, Citigroup boosted their price target on QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $13.62.
Read Our Latest Report on QDEL
QuidelOrtho Price Performance
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18. The business had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.72 million. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. QuidelOrtho’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, equities research analysts anticipate that QuidelOrtho Corporation will post 0.75 EPS for the current year.
Hedge Funds Weigh In On QuidelOrtho
A number of institutional investors have recently made changes to their positions in QDEL. BlackRock Inc. bought a new stake in QuidelOrtho during the 2nd quarter valued at approximately $196,212,000. Newtyn Management LLC lifted its holdings in shares of QuidelOrtho by 45.3% during the second 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. Dimensional Fund Advisors LP lifted its holdings in shares of QuidelOrtho by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock worth $50,085,000 after buying an additional 212,481 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new stake in shares of QuidelOrtho in the second quarter valued at approximately $44,168,000. Finally, Private Management Group Inc. boosted its position in shares of QuidelOrtho by 49.5% in the second quarter. Private Management Group Inc. now owns 2,070,391 shares of the company’s stock valued at $36,263,000 after acquiring an additional 685,622 shares during the period. 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.
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