In today’s recent session, 1.8 million shares of the QuidelOrtho Corporation (NASDAQ:QDEL) have been traded, and its beta is 0.09. Most recently the company’s share price was $36.88, and it changed around -$1.7 or -4.40% from the last close, which brings the market valuation of the company to $2.48B. QDEL at last check was trading at a discount to its 52-week high of $75.86, offering almost -105.69% off that amount. The share price’s 52-week low was $29.74, which indicates that the recent value has risen by an impressive 19.36% since then. We note from QuidelOrtho Corporation’s average daily trading volume that its 10-day average is 0.99 million shares, with the 3-month average coming to 681.60K.
QuidelOrtho Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 2.22. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 3 recommended QDEL as a Hold, whereas 3 deemed it a Buy, and 1 rated it as Underweight. QuidelOrtho Corporation is expected to report earnings per share of 0.57 for the current quarter.
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QuidelOrtho Corporation (NASDAQ:QDEL) trade information
Instantly QDEL has been showing red trend so far today with a performance of -4.40% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 39.82 on recent trading dayincreased the stock’s daily price by 7.38%. The company’s shares are currently down -49.96% year-to-date, but still down -7.84% over the last five days. On the other hand, QuidelOrtho Corporation (NASDAQ:QDEL) is -6.98% down in the 30-day period. We can see from the shorts that 4.15 million shares have been sold at a short interest cover period of 8.23 day(s).
The consensus price target as assigned by Wall Street analysts is $110, which translates to bulls needing to increase their stock price by 66.47% from its current value. Analyst projections state that QDEL is forecast to be at a low of $50 and a high of $125.
QuidelOrtho Corporation (QDEL) estimates and forecasts
QuidelOrtho Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -13.42 percent over the past six months and at a -56.90% annual growth rate that is well below the industry average of 11.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -50.88% in revenue this quarter, and will report an increase of 55.13% in the next quarter. The year-over-year growth rate is expected to be -7.47%, down from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 698.72M in revenue for the current quarter. 6 analysts expect QuidelOrtho Corporation to make 705.59M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 742.6M and 711M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -5.91%. Forecasts for the next quarter put sales growth at -0.76%.
QuidelOrtho Corporation earnings are expected to increase by -56.17% in 2024, but the outlook is positive 7.20% per year for the next five years.
QDEL Dividends
QuidelOrtho Corporation’s next quarterly earnings report is expected to be released in December.
QuidelOrtho Corporation (NASDAQ:QDEL)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.46% of QuidelOrtho Corporation shares, and 108.55% of them are in the hands of institutional investors. The stock currently has a share float of 110.16%. QuidelOrtho Corporation stock is held by 360.0 institutions, with CARLYLE GROUP INC. being the largest institutional investor. By 2024-06-30, it held 17.2209% of the shares, which is about 11.52 million shares worth $382.72 million.
T. ROWE PRICE INVESTMENT MANAGEMENT, INC., with 14.1925% or 9.49 million shares worth $315.42 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
iShares Core S&P Smallcap ETF and Price (T.Rowe) Mid Cap Growth Fund were the top two Mutual Funds as of Sep 30, 2024. The former held 3.67 shares worth $135.65 million, making up 5.46% of all outstanding shares. On the other hand, Price (T.Rowe) Mid Cap Growth Fund held roughly 3.29 shares worth around $121.48 million, which represents about 4.89% of the total shares outstanding.
