QuidelOrtho Corporation (NASDAQ:QDEL – Get Free Report)’s share price traded up 7.2% on Monday. The stock traded as high as $11.73 and last traded at $11.5460. 199,114 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,706,738 shares. The stock had previously closed at $10.77.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on QDEL shares. Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Citigroup increased their target price on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research note on Friday, July 17th. Three analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $13.62.
Read Our Latest Research Report on QDEL
QuidelOrtho Price Performance
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.18. The business had revenue of $630.90 million during the quarter, compared to the consensus estimate of $618.72 million. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%.The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Equities research analysts forecast that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.
Hedge Funds Weigh In On QuidelOrtho
Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in shares of QuidelOrtho by 67.7% in the second quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock valued at $38,000 after acquiring an additional 882 shares in the last quarter. IFP Advisors Inc increased its stake in QuidelOrtho by 14,166.7% in the second quarter. IFP Advisors Inc now owns 2,568 shares of the company’s stock valued at $45,000 after purchasing an additional 2,550 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in QuidelOrtho during the 2nd quarter worth $53,000. Allworth Financial LP acquired a new stake in shares of QuidelOrtho during the second quarter worth about $56,000. Finally, Leonteq Securities AG lifted its stake in QuidelOrtho by 555.2% in the first quarter. Leonteq Securities AG now owns 3,466 shares of the company’s stock valued at $57,000 after buying an additional 2,937 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.
QuidelOrtho Company Profile
QuidelOrtho Corporation (NASDAQ:QDEL) develops, manufactures and distributes diagnostic products used by healthcare providers, clinical laboratories and blood-processing organizations. The company’s offerings are designed to support the detection, diagnosis and monitoring of infectious diseases, cardiovascular conditions and other medical conditions.
Its product portfolio includes point-of-care testing systems, molecular diagnostic assays, immunoassays, clinical chemistry and immunodiagnostic platforms, as well as transfusion medicine products.
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