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QuidelOrtho
(NASDAQ:QDEL)
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Rating:52Neutral
Price Target:
$17.50
▲(37.69% Upside)
Action:Reiterated
Date:07/01/26
The score is held back primarily by weakened financial performance (losses, negative free cash flow, and higher leverage). Offsetting factors include management’s guidance for improved margins and positive full-year free cash flow, plus moderately improving price action versus shorter-term moving averages, though the stock remains below its 200-day average and valuation signals are constrained by negative earnings.
Positive Factors
Strategic Lex acquisition expands molecular POC
The Lex acquisition adds an ultrafast molecular point-of-care instrument and initial orders with expected instrument placements in 2026 and assay pull-through revenue starting 2027. This materially broadens the instrument-installed base and creates a durable recurring consumables revenue stream once ramped.
Negative Factors
Deteriorated profitability and net losses
The swing to sizable net losses and negative operating earnings reflects structural margin pressure below gross profit and weaker revenue trends. Persistent loss-making reduces retained earnings and limits flexibility for reinvestment or cushioning future shocks until profitability stabilizes.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Lex acquisition expands molecular POC
The Lex acquisition adds an ultrafast molecular point-of-care instrument and initial orders with expected instrument placements in 2026 and assay pull-through revenue starting 2027. This materially broadens the instrument-installed base and creates a durable recurring consumables revenue stream once ramped.
Read all positive factors
QuidelOrtho Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales across regions (U.S., Europe, and rest-of-world), highlighting where QuidelOrtho is strongest and where growth or regulatory risks lie. A U.S.-heavy mix can mean sensitivity to domestic healthcare spending and pandemic tailwinds, while rising international sales point to diversification but add currency, reimbursement, and distribution risks.
Breaks down sales across regions (U.S., Europe, and rest-of-world), highlighting where QuidelOrtho is strongest and where growth or regulatory risks lie. A U.S.-heavy mix can mean sensitivity to domestic healthcare spending and pandemic tailwinds, while rising international sales point to diversification but add currency, reimbursement, and distribution risks.
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The Fly
The FlyQuidelOrtho (QDEL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.25B
Dividend YieldN/A
Average Volume (3M)1.75M
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue Growth-3.87%
EPS Growth-258.96%
CountryUS
Employees6,600
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-17.85
Shares Outstanding68,190,990
10 Day Avg. Volume1,961,577
30 Day Avg. Volume1,747,197
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.03
Price to Sales (P/S)0.73
P/FCF Ratio-23.93
Enterprise Value/Market Cap2.91
Enterprise Value/Revenue1.37
Enterprise Value/Gross Profit3.04
Enterprise Value/Ebitda-6.61
Forecast
1Y Price Target
$13.63Price Target Upside7.20% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)1.86
Revenue Forecast (FY)$2.71B
QuidelOrtho Business Overview & Revenue Model
Company Description
QuidelOrtho Corporation specializes in the creation and production of diagnostic testing solutions, addressing a wide array of healthcare testing demands. The company operates through distinct business units. Its Labs division provides clinical ch...
How the Company Makes Money
QuidelOrtho makes money primarily by selling diagnostic testing products and related services to healthcare providers and laboratories. Its revenue model is largely a mix of (1) consumables tied to ongoing test volume and (2) instrument/analyzer p...
QuidelOrtho Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: near-term headwinds were significant (a ~30% weaker respiratory season, an 8% decline in labs revenue, quarter-level margin and cash flow pressure, and China distributor pauses), but management emphasized strategic progress—completion of the Lex acquisition, new product launches (troponin, VITROS 450), cost actions, and a full-year plan targeting a 23% adjusted EBITDA margin and positive free cash flow of $100M–$120M. Given the company’s proactive mitigation steps, clear product and pipeline catalysts, and multi-pronged margin initiatives versus the material but largely contextual short-term revenue and cash setbacks, the tone is balanced between caution on near-term execution risks and optimism on medium-term recovery and margin improvement.Positive Updates
Completed Lex Diagnostics Acquisition
Acquired Lex Diagnostics (April 2026) adding an ultrafast molecular point-of-care platform; secured initial customer orders, expecting to place a few hundred instruments in 2026 with measurable assay pull-through and associated revenue beginning in early 2027; expanding UK manufacturing capacity to support ramp.
Negative Updates
Significantly Weaker Respiratory Season
Respiratory seasonal weakness drove a major headwind: CDC-reported influenza-like illness (ILI) visits were down approximately 30% in April vs Q1 2025; respiratory revenue was $68 million (down significantly versus prior year) and company now models an 8% decline in full-year respiratory revenue with a flat second half assumption.
Read all updates
Q1-2026 Updates
Positive
Negative
Completed Lex Diagnostics Acquisition
Acquired Lex Diagnostics (April 2026) adding an ultrafast molecular point-of-care platform; secured initial customer orders, expecting to place a few hundred instruments in 2026 with measurable assay pull-through and associated revenue beginning in early 2027; expanding UK manufacturing capacity to support ramp.
Read all positive updates
Company Guidance
The company updated full‑year 2026 guidance to total reported revenue of $2.0–$2.75 billion, adjusted EBITDA of $615–$630 million (≈23% margin, +100 bps vs. 2025), adjusted diluted EPS of $0.80–$2.00, and free cash flow of $100–$120 million, while modeling an 8% decline in respiratory revenue for the year and saying the midpoint of the revenue shortfall is roughly $75 million (about $45M from weaker respiratory trends and ~$30M from China distributor pauses tied to draft national IVD pricing, which would impact roughly half of China sales); Q1 contextual metrics were revenue $620 million (respiratory $68M, non‑respiratory $552M), labs revenue down 8%, adjusted gross margin 44% (‑630 bps), adjusted EBITDA $109M (18% margin), adjusted diluted loss per share $0.40, operating cash flow ‑$33M, free cash flow ‑$67M, cash $140M and borrowings $130M, and net debt/adjusted EBITDA leverage 4.1x (expected pro forma 3.25–3.5x by year‑end); management expects Q2 roughly flat with Q1 and a stronger second half to drive the full‑year targets.QuidelOrtho Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
41
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.66B | 2.73B | 2.78B | 3.00B | 3.27B | 1.70B |
| Gross Profit | 1.19B | 1.27B | 1.29B | 1.50B | 1.94B | 1.28B |
| EBITDA | -548.80M | -488.10M | -1.49B | 607.00M | 1.09B | 953.30M |
| Net Income | -1.21B | -1.13B | -2.05B | -10.10M | 548.70M | 704.20M |
Balance Sheet | ||||||
| Total Assets | 5.63B | 5.77B | 6.42B | 8.56B | 8.86B | 2.43B |
| Cash, Cash Equivalents and Short-Term Investments | 140.40M | 202.20M | 98.30M | 167.30M | 345.00M | 828.50M |
| Total Debt | 2.87B | 2.83B | 2.68B | 2.61B | 2.85B | 139.30M |
| Total Liabilities | 3.78B | 3.85B | 3.44B | 3.56B | 3.92B | 501.00M |
| Stockholders Equity | 1.85B | 1.92B | 2.98B | 5.01B | 4.93B | 1.93B |
Cash Flow | ||||||
| Free Cash Flow | -75.20M | -83.00M | -112.10M | 70.90M | 744.40M | 513.14M |
| Operating Cash Flow | 6.60M | 105.20M | 83.00M | 280.20M | 885.30M | 805.87M |
| Investing Cash Flow | -170.50M | -192.70M | -149.90M | -187.60M | -1.64B | -319.53M |
| Financing Cash Flow | 175.80M | 155.80M | 48.80M | -265.80M | 252.00M | -173.18M |
QuidelOrtho Technical Analysis
Positive
12.71
Price Trends
13.50
Positive
15.45
Positive
21.71
Negative
Market Momentum
1.26
Negative
65.63
Neutral
64.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QDEL, the sentiment is Positive. The current price of 12.71 is below the 20-day moving average (MA) of 15.38, below the 50-day MA of 13.50, and below the 200-day MA of 21.71, indicating a neutral trend. The MACD of 1.26 indicates Negative momentum. The RSI at 65.63 is Neutral, neither overbought nor oversold. The STOCH value of 64.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for QDEL.
QuidelOrtho Risk Analysis
QuidelOrtho disclosed 48 risk factors in its most recent earnings report. QuidelOrtho reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
QuidelOrtho Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $3.46B | 37.24 | 11.32% | ― | -1.97% | -38.95% | |
56 Neutral | $1.38B | -65.67 | -6.07% | ― | 4.03% | 70.55% | |
52 Neutral | $1.25B | -1.01 | -56.31% | ― | -3.87% | -258.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $11.68B | -10.80 | -16.43% | 2.75% | -4.79% | -78.01% |
* Healthcare Sector Average
QDEL
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QuidelOrtho Corporate Events
Business Operations and StrategyExecutive/Board Changes
QuidelOrtho Names New Chief Financial Officer, Plans Transition
Positive
Jun 23, 2026
On June 23, 2026, QuidelOrtho announced that Micah Young will become Chief Financial Officer and principal financial officer effective July 6, 2026, succeeding retiring CFO Joseph M. Busky, who will move into an advisory role to ensure a smooth tr...
Executive/Board ChangesShareholder Meetings
QuidelOrtho Shareholders Approve Directors, Pay and Auditor
Positive
Jun 16, 2026
On June 16, 2026, QuidelOrtho Corporation held its 2026 Annual Meeting of Stockholders, where shareholders elected ten director nominees to the board, including Brian J. Blaser, John R. Chiminski and Mary Lake Polan, with each receiving strong maj...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.