QuidelOrtho Corporation (NASDAQ:QDEL) Stock Now Rated “Reduce” by Wall Street Brokerages

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) have earned a consensus recommendation of “Reduce” from the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $13.62.

QDEL has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Citigroup upped their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Jefferies Financial Group restated a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Finally, Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $12.91 on Monday. QuidelOrtho has a 52-week low of $9.92 and a 52-week high of $35.58. The firm has a fifty day moving average of $12.88 and a 200-day moving average of $13.92. The stock has a market capitalization of $885.30 million, a PE ratio of -0.84 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18. The firm had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $618.72 million. QuidelOrtho had a positive return on equity of 4.88% and a negative net margin of 39.20%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. On average, analysts anticipate that QuidelOrtho will post 0.75 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in QDEL. BlackRock Inc. acquired a new position in QuidelOrtho during the 2nd quarter valued at approximately $196,212,000. Newtyn Management LLC grew its stake in QuidelOrtho by 45.3% during the 2nd 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 increased its position in QuidelOrtho by 7.5% in 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 period. Paradigm Capital Management Inc. NY acquired a new stake in QuidelOrtho in the second quarter worth $44,168,000. Finally, Private Management Group Inc. lifted its stake in 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 buying an additional 685,622 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

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.