QuidelOrtho (NASDAQ:QDEL) Stock Price Up 9.4% – Here’s What Happened

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) traded up 9.4% during mid-day trading on Thursday . The stock traded as high as $13.55 and last traded at $13.4890. 637,880 shares traded hands during trading, a decline of 65% from the average session volume of 1,845,824 shares. The stock had previously closed at $12.33.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group cut QuidelOrtho from a “buy” rating to a “hold” rating and cut their target price for the stock from $35.00 to $12.50 in a research note on Thursday, May 7th. Citigroup dropped their price objective on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research note on Tuesday, April 21st. Finally, Zacks Research cut QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $14.88.

QuidelOrtho Stock Performance

The stock has a market capitalization of $912.40 million, a PE ratio of -0.75 and a beta of 0.75. The stock has a fifty day moving average of $13.61 and a 200-day moving average of $21.94. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 1.33.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). The company had revenue of $619.80 million during the quarter, compared to analysts’ expectations of $665.23 million. QuidelOrtho had a negative net margin of 45.57% and a positive return on equity of 4.25%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. Equities analysts anticipate that QuidelOrtho Corporation will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its holdings in QuidelOrtho by 50.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock valued at $31,000 after purchasing an additional 362 shares during the period. ProShare Advisors LLC boosted its holdings in QuidelOrtho by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock valued at $376,000 after purchasing an additional 388 shares during the period. State of Alaska Department of Revenue boosted its holdings in QuidelOrtho by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock valued at $1,093,000 after purchasing an additional 424 shares during the period. Moody National Bank Trust Division lifted its holdings in QuidelOrtho by 1.0% during the 4th quarter. Moody National Bank Trust Division now owns 51,512 shares of the company’s stock worth $1,471,000 after buying an additional 526 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in QuidelOrtho by 3.7% during the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock worth $575,000 after buying an additional 695 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

About QuidelOrtho

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.