QuidelOrtho Co. Forecasted to Earn Q1 2024 Earnings of $0.24 Per Share (NASDAQ:QDEL)

QuidelOrtho Co. (NASDAQ:QDEL) – William Blair reduced their Q1 2024 earnings per share (EPS) estimates for QuidelOrtho in a research note issued on Thursday, April 18th. William Blair analyst A. Brackmann now expects that the company will earn $0.24 per share for the quarter, down from their previous estimate 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.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $742.60 million for the quarter, compared to the consensus estimate of $796.91 million. During the same period in the prior year, the business earned $1.74 EPS. The company’s quarterly revenue was down 14.3% compared to the same quarter last year.

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

QuidelOrtho Trading Up 2.2 %

Shares of NASDAQ QDEL opened at $39.12 on Monday. QuidelOrtho has a 12 month low of $37.78 and a 12 month high of $95.02. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -244.50 and a beta of 0.11. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $45.90 and a 200-day simple moving average of $60.62.

Insider Buying and Selling at QuidelOrtho

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

Institutional Trading of QuidelOrtho

A number of hedge funds have recently modified their holdings of QDEL. T. Rowe Price Investment Management Inc. lifted its position in shares of QuidelOrtho by 2.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,506,473 shares of the company’s stock worth $557,410,000 after buying an additional 160,782 shares during the period. Vanguard Group Inc. lifted its position in shares of QuidelOrtho by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,841,410 shares of the company’s stock worth $356,812,000 after buying an additional 44,770 shares during the period. Senvest Management LLC lifted its position in shares of QuidelOrtho by 7.6% during the 3rd quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock worth $243,244,000 after buying an additional 235,000 shares during the period. State Street Corp lifted its position in shares of QuidelOrtho by 0.9% during the 2nd quarter. State Street Corp now owns 1,554,116 shares of the company’s stock worth $128,774,000 after buying an additional 14,591 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its position in shares of QuidelOrtho by 69.1% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company’s stock worth $98,606,000 after buying an additional 551,524 shares during the period. Institutional investors own 99.00% of the company’s stock.

About QuidelOrtho

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.