QuidelOrtho (NASDAQ:QDEL) Stock Rating Upgraded by Zacks Research

QuidelOrtho (NASDAQ:QDEL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

QDEL has been the subject of several other reports. Citigroup decreased their target price on QuidelOrtho from $30.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating and set a $12.00 target price on shares of QuidelOrtho in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research report on Tuesday, April 21st. Wall Street Zen lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Finally, Jefferies Financial Group lowered QuidelOrtho from a “buy” rating to a “hold” rating and decreased their target price for the company from $35.00 to $12.50 in a research report on Thursday, May 7th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $14.88.

QuidelOrtho Trading Down 3.1%

Shares of QuidelOrtho stock opened at $14.12 on Monday. QuidelOrtho has a 1 year low of $9.92 and a 1 year high of $35.58. The firm has a market cap of $962.84 million, a PE ratio of -0.79 and a beta of 0.77. The stock has a fifty day moving average price of $12.91 and a 200-day moving average price of $21.06. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.80.

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

Institutional Investors Weigh In On QuidelOrtho

Several large investors have recently added to or reduced their stakes in QDEL. Royal Bank of Canada increased its holdings in QuidelOrtho by 1,218.7% in the 1st quarter. Royal Bank of Canada now owns 80,193 shares of the company’s stock worth $2,803,000 after acquiring an additional 74,112 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in QuidelOrtho by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,398 shares of the company’s stock worth $7,987,000 after acquiring an additional 21,968 shares during the last quarter. Focus Partners Wealth increased its holdings in QuidelOrtho by 210.9% in the 1st quarter. Focus Partners Wealth now owns 20,454 shares of the company’s stock worth $715,000 after acquiring an additional 13,876 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in QuidelOrtho in the 2nd quarter worth about $1,313,000. Finally, EverSource Wealth Advisors LLC increased its holdings in QuidelOrtho by 250.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,230 shares of the company’s stock worth $93,000 after acquiring an additional 2,309 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Company Profile

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.