QuidelOrtho Corporation
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Range $12 – $12.5
Price Chart
About the company
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 chemistry and immunoassay instruments and tests designed to analyze bodily fluids and proteins, aiding in health assessment, patient management, and tracking disease progression.
- CEO
- Brian J. Blaser
- IPO
- 1991
- Employees
- 6,500
- HQ
- San Diego, CA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $1.00B
- P/E
- -0.95
- Fwd P/E
- 18.85
- PEG
- 0.01
- P/S
- 0.37
- P/B
- 0.57
- EV/EBITDA
- -7.92
- Div Yield
- 0.00%
- Gross Margin
- 44.60%
- Op Margin
- -30.67%
- Net Margin
- -39.20%
- ROE
- -55.30%
- ROIC
- -16.05%
Latest fiscal year · YoY change
- Revenue
- $2.73B-1.9%
- Gross Profit
- $1.27B-1.0%
- Op Income
- $-919,200,000
- Net Income
- $-1,131,800,000+44.8%
- EPS
- $-16.69+45.4%
- OCF Growth
- +26.7%
- FCF Growth
- +26.0%
- 52W High
- $35.58
- 52W Low
- $9.92
- 50D MA
- $15.71
- 200D MA
- $19.98
- Beta
- 0.69
- RSI (14)
- 47
- Avg Volume
- 1.60M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
QuidelOrtho said Q2 showed solid underlying growth outside China, but China weakness and a softer respiratory outlook forced a full-year reset and a withdrawal of free-cash-flow guidance.· August 6, 2026
- Q2 revenue rose 2% to $631 million, with revenue outside China up 6% and China down 23%.
- Adjusted EBITDA increased 21% to $129 million and margin expanded to 20% of revenue, even as adjusted gross margin declined to 44.4%.
- Management cut full-year 2026 guidance for revenue, adjusted EBITDA, adjusted EBITDA margin, and adjusted EPS, and withdrew free-cash-flow guidance.
- Core labs and immunohematology businesses outside China remained stable, with management assuming about 3% to 5% aggregate growth in the second half.
- Neulixa commercialization remains on track after the Lex acquisition, with early customer engagement described as encouraging.
Total revenue was $631 million in Q2 2026, up 2% year over year on a constant-currency basis. Revenue outside China increased 6%, while China revenue declined 23%; by segment, labs outside China grew 9%, immunohematology outside China increased 5%, and Triage grew 9%. Adjusted gross margin was 44.4%, down 130 basis points year over year. Adjusted EBITDA was $129 million, up 21%, and adjusted EPS was $0.13. For the full year 2026, the company now expects revenue of $2.52 billion to $2.6 billion, adjusted EBITDA of $540 million to $560 million, adjusted EBITDA margin of 21% to 22%, and adjusted EPS of $0.65 to $0.90. Free-cash-flow guidance was withdrawn.
Brian Blaser emphasized that the core business remains strong despite significant headwinds in China and a softer respiratory environment. He said the company is taking aggressive mitigation actions, protecting the installed base, and aligning commercial resources to the evolving reimbursement environment in China. He also highlighted progress on Neulixa, saying manufacturing scale-up, supply-chain readiness, and launch capabilities are advancing and that customer engagement has been encouraging.
Micah Young said he sees opportunities to improve execution, cash conversion, and leverage, and outlined priorities including working-capital improvement, reducing inventory tied up in the business, optimizing instrument investment returns, rationalizing capex, and directing capital to higher-return geographies and businesses. He reported $123 million in cash, $250 million in revolver borrowings, negative operating cash flow of $111 million, and negative free cash flow of $136 million in Q2, including a $25 million Grifols termination payment; he also noted $97 million of cash used for the Lex acquisition and net debt leverage of 4.3x adjusted EBITDA. He said updated guidance reflects persistent China pressure and a cautious respiratory assumption, and explained that free-cash-flow guidance was withdrawn because of uncertainty around market conditions and working-capital impacts.
Analysts pressed management on balance-sheet leverage, prompting Micah Young to say the company is focused on working capital, inventory reduction, instrument-investment returns, capex discipline, and capital allocation toward the highest-return areas. Jack Meehan also asked about the Financial Times report on a possible point-of-care sale; Brian Blaser declined to comment on rumors but said the board and management regularly evaluate portfolio options to maximize long-term shareholder value. On respiratory demand, management said U.S. positivity rates are much lower than last year and Southern Hemisphere data has been weaker, leading them to adopt a more conservative forecast.
The positive case from the call is that the core business outside China still appears healthy, with 6% growth excluding China and solid performance across North America, JPAC, and Latin America. Management also described Q2 margin expansion as evidence that operational improvement initiatives are working, while Neulixa offers a new growth platform with early customer interest.
The biggest risks discussed were the 23% decline in China revenue and continuing uncertainty around Chinese IVD pricing guidelines, which management said is already changing customer buying and inventory behavior. Respiratory demand is also weaker than expected, and management said it is now assuming a muted second half rather than a typical seasonal rebound. Free-cash-flow guidance was withdrawn, and leverage remains elevated at 4.3x adjusted EBITDA.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 98.8%
- Shares Outstanding
- 68.19M
- Float Shares
- 67.38M
of shares held by institutions
249 13F filers
Buy/sell ratio 1.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for QDEL, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Daniel GoldmanHouse · NY10 | Sell | Jul 12, 23 | Filing → |
| Daniel GoldmanHouse · NY10 | Sell | Jul 12, 23 | Filing → |
| Tom MalinowskiHouse · NJ07 | Buy | May 11, 21 | Filing → |
| Tom MalinowskiHouse · NJ07 | Sell | Apr 27, 21 | Filing → |
| Tom MalinowskiHouse · NJ07 | Sell | Mar 3, 21 | Filing → |
| Tom MalinowskiHouse · NJ07 | Sell | Mar 14, 21 | Filing → |
| Tom MalinowskiHouse · NJ07 | Sell | Feb 23, 21 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Nov 13, 20 | Filing → |
| Josh GottheimerHouse · NJ05 | Sell | Nov 11, 20 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Jul 30, 20 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Jul 13, 20 | Filing → |
| Josh GottheimerHouse · NJ05 | Sell | Jul 8, 20 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | May 21, 20 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Mar 10, 20 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 11.20M | ▲ 753.40K |
| Vanguard Group Inc | 7.57M | ▼ 64.12K |
| Fmr LLC | 7.36M | ▲ 772.54K |
| Newtyn Management, LLC | 6.63M | ▲ 2.07M |
| Neuberger Berman Group LLC | 3.53M | ▲ 2.00M |
| Invesco Ltd. | 3.47M | ▲ 355.96K |
| American Century Companies Inc | 3.31M | ▲ 450.95K |
| Rubric Capital Management LP | 3.31M | 0 |
| Vanguard Capital Management LLC | 3.07M | ▲ 17.34K |
| State Street Corp | 2.98M | ▲ 192.02K |
| Paradigm Capital Management Inc/Ny | 2.52M | ▲ 995.80K |
| Private Management Group Inc | 2.07M | ▲ 685.62K |
Held by 305 ETFs
Biggest fund positions in QDEL by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 15, 26 | Hanson Bryan Michael | other | 446 |
| Aug 15, 26 | Hanson Bryan Michael | other | 162 |
| Aug 15, 26 | Hanson Bryan Michael | other | 446 |
| Jul 15, 26 | Young Micah W | other | 356,555 |
| Jul 6, 26 | Young Micah W | other | 0 |
| Jul 1, 26 | Hanson Bryan Michael | other | 5,797 |
| Jul 1, 26 | Hanson Bryan Michael | other | 5,797 |
| Jul 1, 26 | Hanson Bryan Michael | other | 2,096 |
| Jun 25, 26 | WIDDER KENNETH J | other | 15,532 |
| Jun 25, 26 | WIDDER KENNETH J | other | 6,656 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our QDEL coverage
Recent articles, reports, and earnings notes.
Want a deeper read on QDEL?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
QDEL's 2026 Outlook Cut Deepens China and Respiratory Risk Concerns
zacks.com · Aug 17
Is QDEL Worth Buying as China Risks Clash With Resilient Core Growth?
zacks.com · Aug 17
QDEL Rallies 31.7% in Three Months: Can the Stock Keep Climbing Higher?
zacks.com · Aug 17
QDEL Q2 Earnings & Revenues Beat Estimates, 2026 Guidance Lowered
zacks.com · Aug 10
QuidelOrtho (NASDAQ:QDEL) Shares Gap Down – Time to Sell?
defenseworld.net · Aug 9
QuidelOrtho Corporation (QDEL) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 7
QuidelOrtho Q2 Earnings Call Highlights
marketbeat.com · Aug 7
QuidelOrtho (QDEL) Surpasses Q2 Earnings and Revenue Estimates
zacks.com · Aug 6
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
