QuidelOrtho (NASDAQ:QDEL) Stock Jumps 5.7% – Still a Buy?

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) traded up 5.7% on Wednesday. The company traded as high as $14.56 and last traded at $14.3680. 51,284 shares traded hands during trading, a decline of 97% from the average session volume of 1,763,201 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

QDEL has been the topic of a number of recent analyst reports. Citigroup upped their price target on QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday, October 15th. Finally, Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, QuidelOrtho currently has an average rating of “Reduce” and an average price target of $13.62.

QuidelOrtho Price Performance

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 stock has a 50-day moving average price of $12.79 and a 200 day moving average price of $16.57. The stock has a market capitalization of $943.52 million, a price-to-earnings ratio of 10.38 and a beta of 0.79.

QuidelOrtho (NASDAQ:QDEL) last announced 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 business had revenue of $630.90 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. As a group, equities research analysts expect that QuidelOrtho Corporation will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

Several large investors have recently bought and sold shares of QDEL. State of Wyoming grew its stake in QuidelOrtho by 15.4% during the 3rd quarter. State of Wyoming now owns 23,692 shares of the company’s stock valued at $250,000 after acquiring an additional 3,170 shares in the last quarter. Yousif Capital Management LLC raised its holdings in QuidelOrtho by 8.8% in the 3rd quarter. Yousif Capital Management LLC now owns 21,982 shares of the company’s stock valued at $232,000 after acquiring an additional 1,780 shares during the last quarter. Skylands Capital LLC lifted its stake in QuidelOrtho by 3.9% in the 3rd quarter. Skylands Capital LLC now owns 582,464 shares of the company’s stock worth $6,139,000 after purchasing an additional 22,050 shares in the last quarter. Net Worth Advisory Group purchased a new position in QuidelOrtho in the 3rd quarter worth approximately $113,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of QuidelOrtho during the 2nd quarter worth approximately $53,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Company Profile

QuidelOrtho Corporation (NASDAQ:QDEL) is a global in vitro diagnostics company formed through the combination of Quidel Corporation and Ortho Clinical Diagnostics, a transaction completed in 2022. The company develops, manufactures and markets diagnostic technologies used to detect disease, guide treatment decisions and support blood-transfusion safety.

Its portfolio includes rapid immunoassays, molecular testing systems, clinical chemistry and immunohematology products, as well as laboratory automation solutions.