QuidelOrtho Co. (NASDAQ:QDEL) to Post Q3 2024 Earnings of $0.80 Per Share, William Blair Forecasts

QuidelOrtho Co. (NASDAQ:QDELFree Report) – William Blair boosted their Q3 2024 earnings per share estimates for QuidelOrtho in a report issued on Thursday, April 18th. William Blair analyst A. Brackmann now forecasts that the company will post earnings of $0.80 per share for the quarter, up from their prior forecast of $0.66. 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 FY2024 earnings at $2.39 EPS and FY2025 earnings at $3.44 EPS.

Other equities analysts have also recently issued reports about the company. UBS Group reaffirmed a “sell” rating and set a $42.00 price objective (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. JPMorgan Chase & Co. cut QuidelOrtho from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $66.00 to $37.00 in a report on Wednesday, February 14th. Royal Bank of Canada reduced their price objective on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Raymond James reaffirmed an “outperform” rating and set a $76.00 price objective (down from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Craig Hallum reissued a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.60.

Check Out Our Latest Stock Report on QDEL

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $39.12 on Friday. The stock has a fifty day moving average price of $45.90 and a 200 day moving average price of $60.72. The stock has a market cap of $2.62 billion, a PE ratio of -244.50 and a beta of 0.11. QuidelOrtho has a 1 year low of $37.78 and a 1 year high of $95.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57.

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

Hedge Funds Weigh In On QuidelOrtho

Several institutional investors have recently added to or reduced their stakes in QDEL. Global Retirement Partners LLC increased its stake in QuidelOrtho by 109.0% in the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock valued at $26,000 after purchasing an additional 181 shares during the last quarter. Money Concepts Capital Corp grew its position in QuidelOrtho by 66.8% during the fourth quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Eagle Bay Advisors LLC grew its position in QuidelOrtho by 174.2% during the second quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after acquiring an additional 223 shares during the period. GAMMA Investing LLC grew its position in QuidelOrtho by 1,871.8% during the first 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 during the period. Finally, First Horizon Advisors Inc. grew its position in QuidelOrtho by 48.6% during the first quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock valued at $73,000 after acquiring an additional 269 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the completion of 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 filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

QuidelOrtho Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for QuidelOrtho (NASDAQ:QDEL)

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