QuidelOrtho (NASDAQ:QDEL) Shares Down 6.8% – Here’s Why

QuidelOrtho Corporation (NASDAQ:QDEL) traded down 6.8% during trading on Friday . The company traded as low as $20.42 and last traded at $20.6810. 310,854 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,344,179 shares. The stock had previously closed at $22.18.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on QDEL. Citigroup restated a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, November 7th. UBS Group boosted their target price on QuidelOrtho from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, QuidelOrtho presently has an average rating of “Reduce” and a consensus price target of $38.20.

QuidelOrtho Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average price is $27.62 and its 200 day moving average price is $28.24. The firm has a market capitalization of $1.42 billion, a PE ratio of -3.19 and a beta of 0.35.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The firm had revenue of $699.90 million during the quarter, compared to analysts’ expectations of $667.45 million. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. On average, research analysts anticipate that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC increased its position in QuidelOrtho by 100.6% during the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock worth $30,000 after buying an additional 496 shares during the last quarter. Allworth Financial LP increased its holdings in shares of QuidelOrtho by 2,460.9% during the 2nd quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock valued at $34,000 after acquiring an additional 1,132 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of QuidelOrtho during the 1st quarter valued at about $36,000. Nisa Investment Advisors LLC raised its stake in shares of QuidelOrtho by 118.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock valued at $38,000 after acquiring an additional 693 shares in the last quarter. Finally, Quarry LP lifted its holdings in QuidelOrtho by 47.1% in the 1st quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after purchasing an additional 460 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.