QuidelOrtho (NASDAQ:QDEL) Issues Earnings Results

QuidelOrtho (NASDAQ:QDEL) posted its earnings results on Tuesday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41), Zacks reports. QuidelOrtho had a positive return on equity of 5.91% and a negative net margin of 41.46%.The business had revenue of $619.80 million for the quarter, compared to the consensus estimate of $665.23 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. QuidelOrtho updated its FY 2026 guidance to 1.800-2.000 EPS.

Here are the key takeaways from QuidelOrtho’s conference call:

• The Q1 respiratory season was significantly milder and shorter than in 2025, with CDC-reported ILI visits down ~30%, which materially depressed respiratory revenue versus last year.
• Distributors in China paused purchases ahead of draft national IVD pricing guidelines, prompting a downward revision to 2026 guidance and contributing to the revenue shortfall management estimates (part of an approximately $75M midpoint impact).
• Completed the acquisition of LEX Diagnostics, adding an ultra-fast molecular point-of-care platform; initial instrument placements are expected this quarter with measurable assay pull-through and revenue beginning in early 2027.
• Updated full-year 2026 guidance calls for $2.7B–$2.75B revenue, adjusted EBITDA of $615M–$630M (about 23% margin), adjusted EPS $1.80–$2.00, and free cash flow of $100M–$120M, with management reiterating plans for margin expansion.
• Q1 operating cash flow was negative $33M and free cash flow negative $67M with inventory up and net debt/adjusted EBITDA at 4.1x, but the company expects to hit ~3.25–3.5x leverage by year-end through procurement, staffing, and facility consolidation actions.

QuidelOrtho Trading Down 5.4%

QuidelOrtho stock traded down $0.64 during mid-day trading on Wednesday, hitting $11.03. 3,201,021 shares of the stock were exchanged, compared to its average volume of 1,785,265. The company has a quick ratio of 0.90, a current ratio of 1.50 and a debt-to-equity ratio of 1.29. QuidelOrtho has a 12 month low of $10.21 and a 12 month high of $38.99. The firm’s fifty day simple moving average is $16.58 and its two-hundred day simple moving average is $23.82. The stock has a market capitalization of $750.80 million, a price-to-earnings ratio of -0.67 and a beta of 0.75.

Analyst Ratings Changes

Several research analysts have issued reports on QDEL shares. UBS Group lowered their price target on shares of QuidelOrtho from $30.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Tuesday, April 21st. Citigroup raised their price target on shares of QuidelOrtho from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Finally, Zacks Research lowered shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, QuidelOrtho currently has an average rating of “Reduce” and an average price target of $28.25.

Key QuidelOrtho News

Here are the key news stories impacting QuidelOrtho this week:

• Positive Sentiment: Management highlighted the planned acquisition of LEX Diagnostics and said it should accelerate growth in point?of?care molecular diagnostics, supporting longer?term revenue potential. PR Newswire
• Positive Sentiment: Company noted upcoming U.S. and international product launches that could drive future top?line recovery if respiratory testing demand normalizes. PR Newswire
• Neutral Sentiment: Full?year revenue guidance was reiterated roughly in the $2.7B–$2.8B range, near consensus, which limits downside if execution holds. PR Newswire
• Neutral Sentiment: Company released the slide deck and call transcript; investors can review management commentary and guidance detail on the call for color on margins and seasonality. Slide Deck / Press Release
• Negative Sentiment: Q1 results missed expectations: GAAP EPS of ($0.04) vs. consensus ~$0.37 and revenue of $619.8M vs. consensus ~$665M — revenue fell ~10.5% YoY, driven by a much weaker respiratory testing season, which pressured top line and investor sentiment. Zacks
• Negative Sentiment: Margins and cash flow were pressured (net margin turned negative and ROE weakened), and management set FY?2026 EPS guidance of $1.80–$2.00, below consensus (~$2.17), signaling slower near?term earnings recovery. MarketBeat / Guidance
• Negative Sentiment: Heightened trading volume and large share turnover suggest elevated investor concern and potential continued volatility while the market digests how quickly respiratory demand and margins can normalize. Yahoo Finance

Insiders Place Their Bets

In related news, Director Matthew Strobeck acquired 10,000 shares of the stock in a transaction dated Friday, February 13th. The stock was bought at an average price of $23.96 per share, for a total transaction of $239,600.00. Following the purchase, the director directly owned 27,775 shares of the company’s stock, valued at $665,489. The trade was a 56.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian J. Blaser bought 10,540 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were bought at an average price of $23.59 per share, for a total transaction of $248,638.60. Following the transaction, the chief executive officer directly owned 40,073 shares in the company, valued at $945,322.07. This trade represents a 35.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 23,910 shares of company stock worth $567,973. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of QDEL. Invesco Ltd. boosted its stake in QuidelOrtho by 87.0% during the third quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock worth $85,604,000 after acquiring an additional 1,352,503 shares in the last quarter. Newtyn Management LLC boosted its stake in QuidelOrtho by 58.3% during the third quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after acquiring an additional 994,332 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in QuidelOrtho by 101.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,755,401 shares of the company’s stock worth $50,134,000 after acquiring an additional 883,077 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in QuidelOrtho by 7.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company’s stock worth $337,925,000 after acquiring an additional 819,908 shares in the last quarter. Finally, State Street Corp boosted its stake in QuidelOrtho by 23.3% during the second quarter. State Street Corp now owns 2,700,940 shares of the company’s stock worth $77,841,000 after acquiring an additional 510,291 shares in the last quarter. 99.00% of the stock is owned by 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.