Q1 2024 EPS Estimates for QuidelOrtho Co. (NASDAQ:QDEL) Decreased by Analyst

QuidelOrtho Co. (NASDAQ:QDEL) – Equities researchers at William Blair lowered their Q1 2024 earnings estimates for QuidelOrtho in a report issued on Thursday, April 18th. William Blair analyst A. Brackmann now forecasts that the company will post earnings per share of $0.24 for the quarter, down from their prior forecast of $0.49. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for QuidelOrtho’s current full-year earnings is $2.28 per share. William Blair also issued estimates for QuidelOrtho’s Q2 2024 earnings at ($0.08) EPS and Q4 2024 earnings at $1.45 EPS.

A number of other research analysts have also commented on QDEL. Craig Hallum reiterated a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. UBS Group restated a “sell” rating and set a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Raymond James restated an “outperform” rating and set a $76.00 target price (down from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Royal Bank of Canada reduced their target price on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $66.00 to $37.00 in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, QuidelOrtho has a consensus rating of “Hold” and a consensus target price of $61.60.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $40.40 on Monday. QuidelOrtho has a 12 month low of $37.78 and a 12 month high of $95.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88. The firm has a market capitalization of $2.70 billion, a PE ratio of -252.50 and a beta of 0.11. The company’s 50 day simple moving average is $44.76 and its 200 day simple moving average is $60.16.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The company had revenue of $742.60 million for the quarter, compared to analyst estimates of $796.91 million. During the same quarter in the prior year, the business earned $1.74 EPS. QuidelOrtho’s revenue was down 14.3% compared to the same quarter last year.

Insider Buying and Selling

In other news, CFO Joseph M. Busky acquired 2,150 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $46.35 per share, with a total value of $99,652.50. Following the purchase, the chief financial officer now owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On QuidelOrtho

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its holdings in shares of QuidelOrtho by 109.0% during the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock valued at $26,000 after acquiring an additional 181 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of QuidelOrtho by 1,871.8% during the 1st quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock valued at $67,000 after acquiring an additional 1,329 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of QuidelOrtho during the 3rd quarter valued at $106,000. Cetera Trust Company N.A purchased a new position in shares of QuidelOrtho during the 4th quarter valued at $108,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of QuidelOrtho during the 3rd quarter valued at $123,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.