William Blair Equities Analysts Raise Earnings Estimates for QuidelOrtho Co. (NASDAQ:QDEL)

QuidelOrtho Co. (NASDAQ:QDEL) – Stock analysts at William Blair increased their Q3 2024 EPS estimates for QuidelOrtho in a research note issued to investors on Thursday, April 18th. William Blair analyst A. Brackmann now anticipates that the company will post earnings of $0.80 per share for the quarter, up from their prior estimate of $0.66. William Blair has a “Market Perform” rating on the stock. The consensus estimate for QuidelOrtho’s current full-year earnings is $2.36 per share. William Blair also issued estimates for QuidelOrtho’s FY2024 earnings at $2.39 EPS and FY2025 earnings at $3.44 EPS.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The company had revenue of $742.60 million for the quarter, compared to the consensus estimate of $796.91 million. During the same period last year, the firm posted $1.74 EPS. The company’s revenue was down 14.3% compared to the same quarter last year.

Several other equities research analysts have also issued reports on QDEL. UBS Group reissued a “sell” rating and issued a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Raymond James reissued an “outperform” rating and issued a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. JPMorgan Chase & Co. lowered shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. Craig Hallum reissued a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Royal Bank of Canada lowered their price target on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, QuidelOrtho has an average rating of “Hold” and a consensus price target of $61.60.

QuidelOrtho Trading Down 1.2 %

Shares of QDEL stock opened at $38.26 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45. The firm’s fifty day simple moving average is $46.48 and its 200 day simple moving average is $61.03. QuidelOrtho has a 1 year low of $38.10 and a 1 year high of $95.02.

Insider Buying and Selling

In related news, CFO Joseph M. Busky purchased 2,150 shares of QuidelOrtho stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average price of $46.35 per share, for a total transaction of $99,652.50. Following the transaction, the chief financial officer now directly owns 2,150 shares in the company, valued at $99,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QDEL. Raymond James & Associates lifted its position in QuidelOrtho by 30.3% during the 1st quarter. Raymond James & Associates now owns 10,654 shares of the company’s stock worth $1,198,000 after buying an additional 2,476 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in QuidelOrtho by 27.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,831 shares of the company’s stock valued at $1,668,000 after purchasing an additional 3,203 shares during the period. US Bancorp DE lifted its position in QuidelOrtho by 113.0% during the 1st quarter. US Bancorp DE now owns 1,444 shares of the company’s stock valued at $162,000 after purchasing an additional 766 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in QuidelOrtho by 58.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,141 shares of the company’s stock valued at $353,000 after purchasing an additional 1,154 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in QuidelOrtho by 905.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,081 shares of the company’s stock valued at $234,000 after purchasing an additional 1,874 shares during the period. Institutional investors and hedge funds 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.