QuidelOrtho Corporation (NASDAQ:QDEL) Given Consensus Recommendation of “Reduce” by Brokerages

QuidelOrtho Corporation (NASDAQ:QDEL) has earned a consensus rating of “Reduce” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.6250.

A number of equities analysts recently commented on the company. Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Citigroup increased their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded shares of QuidelOrtho from a “sell” rating to a “hold” rating in a report on Sunday, June 28th.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL opened at $10.34 on Thursday. The firm has a market cap of $709.01 million, a price-to-earnings ratio of -0.67 and a beta of 0.68. QuidelOrtho has a 1 year low of $9.92 and a 1 year high of $35.58. The company has a current ratio of 1.39, a quick ratio of 0.76 and a debt-to-equity ratio of 1.43. The business has a fifty day simple moving average of $14.42 and a 200 day simple moving average of $14.53.

QuidelOrtho (NASDAQ:QDEL) last issued 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 company had revenue of $630.90 million for the quarter, compared to analyst estimates 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 revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. As a group, sell-side analysts predict that QuidelOrtho will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in QuidelOrtho during the second quarter worth approximately $196,212,000. Newtyn Management LLC raised its position in shares of QuidelOrtho by 45.3% in the second quarter. Newtyn Management LLC now owns 6,625,000 shares of the company’s stock valued at $116,037,000 after purchasing an additional 2,066,528 shares during the period. Dimensional Fund Advisors LP raised its position in shares of QuidelOrtho by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock valued at $50,085,000 after purchasing an additional 212,481 shares during the period. Paradigm Capital Management Inc. NY acquired a new stake in shares of QuidelOrtho in the second quarter worth $44,168,000. Finally, Private Management Group Inc. lifted its stake 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 worth $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.

About QuidelOrtho

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.