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Key Takeaways QuidelOrtho gained 31.7% in three months as core diagnostics growth and cost actions supported profits.QDEL cut 2026 revenue, adjusted EBITDA and earnings guidance amid China and respiratory weakness.QuidelOrtho held $123.4 million in cash against $2.89 billion in debt as gross margin fell 130 basis points. QuidelOrtho Corporation (QDEL - Free Report) has gained 31.7% in the past three months, but the rally now faces a mixed operating backdrop. Core diagnostics businesses are still growing, and cost actions are lifting profitability, even as China and respiratory demand weaken.

The next leg higher may depend on whether those operating gains can offset lower guidance, margin pressure and a heavily leveraged balance sheet.

QDEL’s Core Businesses Show Resilient GrowthSecond-quarter 2026 revenues rose 2.8% year over year to $630.9 million. Labs revenues increased 3.6%, Immunohematology grew 1.4% and Point of Care advanced 16.3%.

Excluding China, revenues grew 6% at constant currency. Labs revenues outside China rose 9%, while Immunohematology revenues outside China increased 5%, supporting management’s view that the core franchises remain comparatively resilient.

Image Source: Zacks Investment Research

QuidelOrtho’s Cost Actions Support ProfitabilityAdjusted EBITDA increased 21% year over year to $129 million in the second quarter, while adjusted EBITDA margin reached 20.5%. Operating expenses as a percentage of revenues also improved 40 basis points.

The Optimization Plan continues to target facility consolidation, procurement savings and distribution rationalization. QuidelOrtho still expects roughly $50 million of net cost savings through 2027, which could help support profitability while revenue growth remains uneven.

QDEL Faces a Sharp China SlowdownChina revenues fell 18.7% on a reported basis and 23.3% at constant currency in the second quarter. Slower distributor purchases ahead of national in-vitro diagnostics pricing changes were a key drag on the region.

Management observed customers reducing inventories faster than expected after quarter-end and expects China challenges to persist through the remainder of 2026. The timing and implementation of the revised pricing guidelines remain uncertain, limiting near-term demand visibility.

QuidelOrtho’s Lower Outlook Tests the RallyQuidelOrtho cut its 2026 revenue guidance to $2.52-$2.60 billion from $2.70-$2.75 billion. Adjusted EBITDA guidance dropped to $540-$560 million from $615-$630 million, while adjusted earnings guidance fell to 65-90 cents per share from $1.80-$2.00.

The company also adopted more conservative assumptions for the 2026-2027 respiratory season after lower U.S. positivity rates and softer Southern Hemisphere indicators. That approach reduces expectations for a seasonal rebound and keeps near-term earnings visibility constrained.

QDEL’s Financial Risks Could Limit Further UpsideAdjusted gross margin contracted 130 basis points to 44.4% in the second quarter. QuidelOrtho ended the period with $123.4 million in cash against $2.89 billion of total debt, while cumulative operating cash use reached $143.6 million.

Competition also remains substantial. Abbott Laboratories (ABT - Free Report) reported $3.1 billion in second-quarter Diagnostics sales, while Danaher Corporation (DHR - Free Report) completed its Masimo acquisition in June, adding specialty diagnostics and patient-monitoring capabilities to its Diagnostics segment.

QDEL’s Bearish Signal Calls for CautionThe 31.7% three-month advance shows that QDEL has already made a sizable move, but sustaining it may require better cash conversion and evidence that cost improvements can overcome China weakness, respiratory volatility and margin pressure.

The stock currently carries a Zacks Rank #5 (Strong Sell), a bearish signal that reflects unfavorable earnings estimate revisions. QDEL has a Value Score of B, suggesting that its valuation characteristics are relatively favorable. However, the Growth Score of F and Momentum Score of F point to weak growth and price-momentum attributes, while the VGM Score of D indicates an unfavorable overall combination of value, growth and momentum factors.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways QDEL cut 2026 revenue, adjusted EBITDA and earnings guidance on weaker China and respiratory demand.QuidelOrtho expects China challenges through 2026 as pricing changes drive faster inventory reductions.QDEL used $143.6 million in operating cash as total debt rose to $2.89 billion, increasing leverage pressure. QuidelOrtho Corporation (QDEL - Free Report) sharply lowered its 2026 outlook after second-quarter results as China purchasing weakened and management adopted more conservative respiratory-season assumptions. The reset reduces near-term earnings visibility and raises the importance of cash conversion.

Core businesses are still growing, but the lower revenue, EBITDA and earnings ranges show that those gains are not enough to offset the company’s largest near-term pressures. The revised outlook also makes balance-sheet improvement harder to achieve.

QDEL’s Guidance Reset Is MaterialQuidelOrtho now expects 2026 revenues of $2.52-$2.60 billion, down from its prior $2.70-$2.75 billion range. The cut reflects weaker demand expectations in China and a softer respiratory environment.

Adjusted EBITDA guidance fell to $540-$560 million from $615-$630 million, while adjusted earnings expectations dropped to 65-90 cents per share from $1.80-$2.00. The scale of the reductions points to a materially weaker earnings trajectory for the remainder of the year.

China Pricing Changes Hit QDEL’s Demand OutlookThe second draft of China’s in-vitro diagnostics pricing guidelines changed the market backdrop. Management said the draft broadened product coverage, removed methodology and use-case differentiation and expanded the pilot from three provinces to six.

After quarter-end, customers reduced inventories more quickly and significantly than QuidelOrtho had anticipated. Final guidelines and implementation timing remain uncertain, and management expects China challenges to persist through the remainder of 2026.

Image Source: Zacks Investment Research

QDEL Turns More Cautious on Respiratory DemandQuidelOrtho has shifted away from using an average respiratory season as its planning baseline. It now assumes the second-half respiratory environment will be closer to the lower end of historical seasons.

Management cited U.S. positivity rates that were significantly below year-ago levels and Southern Hemisphere data that suggested either a later or softer season. That more conservative stance reduces the earnings recovery previously expected from seasonal testing demand.

Core QDEL Businesses Provide a Partial OffsetSecond-quarter Labs revenues rose 3.6% year over year, Immunohematology increased 1.4% and Point of Care advanced 16.3% on a reported basis. Excluding China, total revenues grew 6% at constant currency, showing that the broader portfolio retains pockets of resilience.

The competitive diagnostics backdrop remains active. Abbott Laboratories (ABT - Free Report) reported $3.1 billion in second-quarter 2026 Diagnostics sales, while Danaher Corporation (DHR - Free Report) reported 7% year-over-year Diagnostics revenue growth. QDEL’s core growth is encouraging, but it was not sufficient to prevent the full-year outlook reduction.

QDEL’s Cash Conversion Adds to the ConsequencesOperating activities used $143.6 million of cash during the first six months of 2026 compared with cash generation a year earlier. QuidelOrtho also withdrew its free cash flow guidance because of uncertainty tied to China, respiratory demand and working-capital effects.

Total debt increased to $2.89 billion at quarter-end from $2.69 billion at the end of the first quarter. With earnings visibility reduced, improving cash conversion becomes more important to the company’s efforts to lower leverage and strengthen the balance sheet.

QDEL’s Bearish Signal Reflects the Outlook ResetThe guidance reduction leaves QuidelOrtho facing a difficult near-term setup. Core growth provides some support, but China uncertainty, respiratory volatility, cash use and elevated debt keep the risk-reward balance unfavorable.

The stock currently carries a Zacks Rank #5 (Strong Sell). QDEL has a Value Score of B, which points to relatively favorable value characteristics, but its Growth Score of F and Momentum Score of F indicate weak growth and momentum traits. Its VGM Score of D further signals an unfavorable combined profile. Because Style Scores complement the Zacks Rank, this mix reinforces a cautious view even though the value reading is stronger than the other style factors.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Posted by Defense World Staff on Aug 9th, 2026

QuidelOrtho Corporation (NASDAQ:QDEL – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $16.32, but opened at $12.67. QuidelOrtho shares last traded at $11.9830, with a volume of 631,070 shares trading hands.

Key Stories Impacting QuidelOrtho Here are the key news stories impacting QuidelOrtho this week:

Positive Sentiment: QuidelOrtho reported second-quarter adjusted earnings of $0.13 per share, compared with analysts’ expected loss of approximately $0.05 per share and $0.12 per share a year earlier. Revenue of $630.9 million also exceeded the roughly $618.7 million consensus estimate. QuidelOrtho Surpasses Q2 Earnings and Revenue Estimates Positive Sentiment: Quarterly revenue increased approximately 3% year over year, driven primarily by growth in the Labs and Point-of-Care businesses. Excluding China, revenue growth was stronger at 6%, suggesting underlying demand was healthier outside the Chinese market. QuidelOrtho Reports Second Quarter 2026 Financial Results Neutral Sentiment: Management’s earnings-call discussion focused on operating performance across its diagnostics portfolio and the updated outlook for the remainder of 2026. Investors are likely to scrutinize whether Labs and Point-of-Care growth can offset weaker conditions in China and support a sustained recovery. QuidelOrtho Q2 2026 Earnings Call Transcript Negative Sentiment: QuidelOrtho lowered its full-year 2026 guidance to $0.65–$0.90 in EPS and $2.5–$2.6 billion in revenue. Those ranges are substantially below analyst expectations of about $1.85–$1.87 EPS and $2.7 billion in revenue, signaling weaker profitability and sales than previously anticipated. QuidelOrtho Second Quarter Results Wall Street Analyst Weigh In A number of analysts have issued reports on the company. Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Citigroup increased their target price on QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised their target price on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. UBS Group restated a “neutral” rating and issued a $12.00 price target on shares of QuidelOrtho in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.62.

Check Out Our Latest Report on QDEL

QuidelOrtho Trading Down 24.8% The stock has a market cap of $837.37 million, a PE ratio of -0.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43. The stock has a fifty day moving average price of $15.75 and a 200 day moving average price of $17.55.

QuidelOrtho (NASDAQ:QDEL – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.18. The company had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.72 million. QuidelOrtho had a positive return on equity of 4.78% and a negative net margin of 39.20%.QuidelOrtho’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 EPS. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. Equities analysts expect that QuidelOrtho Corporation will post 0.77 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho Large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. raised its position in QuidelOrtho by 50.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after purchasing an additional 362 shares during the period. ProShare Advisors LLC lifted its stake in QuidelOrtho by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 13,164 shares of the company’s stock worth $376,000 after purchasing an additional 388 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of QuidelOrtho by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 38,333 shares of the company’s stock valued at $1,093,000 after buying an additional 424 shares during the period. California State Teachers Retirement System boosted its position in shares of QuidelOrtho by 1.2% during the second quarter. California State Teachers Retirement System now owns 62,188 shares of the company’s stock valued at $1,792,000 after buying an additional 725 shares during the period. Finally, Moody National Bank Trust Division grew its position in QuidelOrtho by 1.1% in the 2nd quarter. Moody National Bank Trust Division now owns 70,748 shares of the company’s stock valued at $1,239,000 after acquiring an additional 789 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

About QuidelOrtho (Get Free Report)

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.

Further Reading Five stocks we like better than QuidelOrtho Quantum Earnings Week: Winners and Losers Are Finally Emerging Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish Receive News & Ratings for QuidelOrtho Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuidelOrtho and related companies with MarketBeat.com's FREE daily email newsletter.

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Lucira Stock Jumps over 250% on FDA Approval, Beware Chapter 11QuidelOrtho NASDAQ: QDEL reported second-quarter revenue growth despite continued pressure from China and a softer respiratory testing environment, while lowering its full-year outlook and withdrawing free cash flow guidance.

Total second-quarter revenue was $631 million, up 2% on a constant-currency basis. Revenue outside China, representing nearly 90% of company revenue, rose 6%, according to Chief Financial Officer Micah Young. Chief Executive Officer Brian Blaser said the underlying business showed broad-based strength across core franchises and regions.

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“While we are navigating significant headwinds in China and a softer respiratory environment, the underlying performance of our business remains strong,” Blaser said.

Core regions and franchises post growth Revenue in North America increased 6%, supported by laboratory and TRIAGE point-of-care businesses. Revenue in the JPAC region rose 10%, driven by Japan and India, while Latin America grew 8%, with strength in Brazil and Central America.

Outside China, laboratory revenue increased 9%, immunohematology revenue rose 5%, and TRIAGE revenue expanded 9%, Blaser said. Young added that the company expects its laboratory and immunohematology businesses outside China to generate aggregate growth of approximately 3% to 5% in the second half of 2026.

Adjusted EBITDA increased 21% to $129 million during the quarter, and adjusted EBITDA margin expanded 310 basis points to 20% of revenue. Adjusted gross margin was 44.4%, down 130 basis points from a year earlier, reflecting unfavorable geographic mix from lower China volumes. Combined non-GAAP selling, general and administrative and research and development expense rose 2% to $219 million, but improved by 40 basis points as a percentage of revenue.

Adjusted earnings per share were $0.13.

China policy uncertainty weighs on demand China revenue declined 23% year over year as customers adjusted purchases and reduced inventories amid uncertainty around proposed in vitro diagnostics pricing guidelines. Blaser said the second draft of the guidelines, released for comment in late June, differed meaningfully from a preliminary draft issued in March.

The revised draft eliminates methodology and use-case differentiation, includes a broader range of products and expands pilot implementation from three to six provinces, according to Blaser. Final guidelines and implementation timelines have not been established.

“We observed customers adjusting their purchasing and inventory levels more quickly and significantly than we had anticipated,” Blaser said.

The company is focusing its near-term China actions on protecting its installed base, maintaining customer engagement and aligning commercial resources with the changing reimbursement environment. Young said the company does not expect China market conditions to improve in the near term.

Company takes a more conservative respiratory view QuidelOrtho also cited lower respiratory test positivity rates compared with 2025 and softer-than-expected indicators from the Southern Hemisphere. Blaser said those trends could point to either a later season or a weaker season.

Rather than use an average respiratory season as the basis for its outlook, the company is now assuming that the respiratory testing market will be toward the lower end of historical seasonal activity. Blaser said QuidelOrtho intends to use a more conservative respiratory forecasting approach going forward and align its cost structure accordingly.

The company expects customer placements and test utilization for its newly branded NULEXA point-of-care molecular platform to gain momentum during the respiratory season later this year. QuidelOrtho acquired LEX in April and has been advancing manufacturing scale-up, supply chain readiness and commercial launch preparations, Blaser said.

Management aims to enter the 2027-2028 respiratory season with a growing installed base and expanded commercial activity for the platform.

Outlook reduced; cash flow guidance withdrawn For full-year 2026, QuidelOrtho now expects:

Revenue of $2.52 billion to $2.60 billion. Adjusted EBITDA of $540 million to $560 million. Adjusted EBITDA margin of 21% to 22%. Adjusted earnings per share of $0.65 to $0.90. The revised outlook reflects expectations for continuing China-related demand pressure and a more muted respiratory season in the second half. Management said the revised forecast does not reflect a change in expectations for the company’s core laboratory and immunohematology businesses outside China.

The company withdrew its full-year free cash flow guidance, citing uncertainty surrounding China, the timing and strength of respiratory testing demand, and related working-capital effects.

Operating cash flow was negative $111 million in the second quarter, while free cash flow was negative $136 million. Free cash flow included a $25 million payment to Grifols related to the termination of a joint business arrangement. Additional payments of $25 million and $15 million are expected in 2027 and 2028, respectively. The company also used $97 million of cash for the LEX acquisition during the quarter.

QuidelOrtho ended the quarter with $123 million in cash and $250 million outstanding under its revolving credit facility. Net debt leverage was 4.3 times adjusted EBITDA, including pro forma adjustments allowed under its credit agreement.

Young, who joined as CFO, said his priorities include improving working capital, reducing inventory-related capital needs, improving returns on instrument investments, rationalizing capital expenditures and directing capital toward higher-return businesses and geographies. Blaser said management is pursuing cost-improvement measures and additional mitigation actions to manage through the China and respiratory headwinds.

About QuidelOrtho (NASDAQ:QDEL)QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company's product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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― Total revenue grew 3% reported and 2% constant currency, primarily driven by Labs and Point of Care growth ― 

― Excluding China, total revenue grew 6% both as reported and in constant currency ―

― Company updates full-year 2026 financial guidance ―

, /PRNewswire/ -- QuidelOrtho Corporation (Nasdaq: QDEL) (the "Company" or "QuidelOrtho"), a leading global provider of diagnostic solutions, today announced financial results for the second quarter ended June 28, 2026.

Key Second Quarter 2026 Results:
(all comparisons are to the prior year period)

Total revenue was $631 million, an increase of 3% as reported and 2% in constant currency. Excluding China, total revenue grew 6% both as reported and in constant currency. Labs revenue of $383 million grew by 4% as reported and 2% in constant currency.  Growth was driven by continued strength across the core business and partially offset by slower sales in China, which the Company believes is primarily related to recently announced changes to In Vitro Diagnostics pricing. Outside of China, Labs revenue grew 9% both as reported and in constant currency. Immunohematology revenue of $134 million grew 1% both as reported and in constant currency. Outside of China, Immunohematology revenue grew 5% both as reported and in constant currency. Point of Care revenue of $108 million grew 16% both as reported and in constant currency, including Triage revenue growth of 10% as reported and 9% in constant currency. GAAP net loss was $93 million; GAAP operating loss was $22 million; adjusted EBITDA was $129 million. GAAP net loss margin was 14.7%; GAAP operating loss margin was 3.5%; adjusted EBITDA margin was 20.5%, an improvement of 310 basis points. GAAP diluted loss per share was $1.36; adjusted diluted earnings per share ("EPS") was $0.13. "Our second quarter performance demonstrated QuidelOrtho's underlying strength and the benefits of our diversified portfolio, with solid results across our core franchises and regions, with the exception of China. Demand headwinds in China related to the proposed IVD pricing guidelines and a softer global respiratory environment are continuing to impact our business," said Brian J. Blaser, President and Chief Executive Officer of QuidelOrtho. "As a result, we are revising our full-year 2026 revenue and earnings guidance to reflect these evolving market dynamics. In addition, we have decided to withdraw free cash flow guidance as we work through the associated impacts on working capital and our mitigation efforts. This decision does not change our commitment to improving cash conversion, which remains our top priority. We remain focused on serving our customers, executing our strategy, strengthening our balance sheet, and building a stronger, more resilient QuidelOrtho."

Full-year 2026 Financial Guidance

Based on its current business outlook, the Company is updating its full-year financial guidance below:  

Full-year 2026 Financial Guidance

Updated

(as of 8/6/2026)

Previous

(as of 5/5/2026)

Total revenues (reported)

$2.52 - $2.60 billion

$2.70 - $2.75 billion

Adjusted EBITDA

$540 - $560 million

$615 - $630 million

Adjusted EBITDA margin

21% - 22%

23 %

Adjusted diluted EPS

$0.65 - $0.90

$1.80 - $2.00

Free cash flow

Withdrawn

$100 - $120 million

Please see page 8 of the Second Quarter 2026 Financial Results presentation on the "Investor Relations" page of the Company's website for the full list of assumptions on which the Company's current 2026 financial guidance is based.

A reconciliation of forward-looking non-GAAP measures, including adjusted EBITDA, adjusted EBITDA margin and adjusted diluted EPS, to the most directly comparable GAAP measures is not provided because comparable GAAP measures for such measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and quantifying measures that would be necessary for such reconciliation. We are not, without unreasonable effort, able to reliably predict the impact of impairment charges and related tax benefits and other non-recurring adjustments. These items are uncertain, depend on various factors and may have a material impact on our future GAAP results. In addition, the Company believes any such reconciliation would imply a degree of precision and certainty that could be confusing to investors. See "Forward-Looking Statements" and "Non-GAAP Financial Measures."

Conference Call Information

Following the release of financial results, QuidelOrtho will hold a conference call today beginning at 2:00 p.m. PT / 5:00 p.m. ET to discuss its financial results. Interested parties can access the call from the "Events & Presentations" section of the "Investor Relations" page of the Company's website at https://ir.quidelortho.com. Presentation materials will also be posted to the "Events & Presentations" section of the "Investor Relations" page of the Company's website at the time of the call. A replay of the conference call will be available shortly after the event on the "Investor Relations" page of the Company's website under the "Events & Presentations" section.

QuidelOrtho is dedicated to advancing diagnostics to power a healthier future. For more information, please visit quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and X.

About QuidelOrtho Corporation

With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herein that is not strictly historical, including, but not limited to, QuidelOrtho's commercial and other strategic goals, financial guidance for 2026 and related assumptions and other future financial condition and operating results, including growth expectations and expected results of operations, financial position or cost-savings and operational improvement initiatives, and other future plans, objectives, strategies, expectations and intentions. Without limiting the foregoing, the words "may," "will," "could," "would," "should," "might," "expect," "anticipate," "believe," "estimate," "plan," "intend," "goal," "project," "strategy," "future," "continue," "aim," "strive," "seek" or similar words, expressions or the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Such statements are based on the beliefs and expectations of QuidelOrtho's management as of the date of this press release and are subject to significant known and unknown risks and uncertainties. Actual results or outcomes may differ significantly from those set forth or implied in the forward-looking statements. The following factors, among others, could cause actual results or outcomes to differ from those set forth or implied in the forward-looking statements: fluctuations in demand for QuidelOrtho's non-respiratory and respiratory products; supply chain, production, logistics, distribution and labor disruptions and challenges; inability to successfully identify, consummate or realize the anticipated benefits of strategic transactions, strategic restructurings, divestitures, spin-offs or discontinuances of certain business operations, or debt financings, on the anticipated timelines, or at all; delays in the development of or failures or delays in the receipt of approvals for new or enhanced products; failure of new products and services to be commercially viable or accepted; changes in reimbursement rates for our products, including reimbursement rate reductions proposed by the China National Health Security Administration; and other macroeconomic, geopolitical, market, business, competitive and/or regulatory factors affecting the business of QuidelOrtho generally, including those arising from the effects of announced or future or amended tariffs, trade policies, investigations, global trade relations and other tariff-related developments, as well as those discussed in QuidelOrtho's Annual Report on Form 10-K for the fiscal year ended December 28, 2025 and subsequent reports filed with the Securities and Exchange Commission (the "Commission"), including under Part I, Item 1A, "Risk Factors" of the Form 10-K. You should not rely on forward-looking statements as predictions of future events because these statements are based on assumptions that may not come true and are speculative by their nature. All forward-looking statements are based on information currently available to QuidelOrtho and speak only as of the date of this press release. QuidelOrtho undertakes no obligation to update any of the forward-looking information or time-sensitive information included in this press release, whether as a result of new information, future events, changed expectations or otherwise, except as required by law.

Non-GAAP Financial Measures

This press release contains financial measures that are considered non-GAAP financial measures under applicable rules and regulations of the Commission, including but not limited to "constant currency total revenue changes," "constant currency total revenue changes, excluding China," "constant currency Labs revenue changes," "constant currency Labs revenue changes, excluding China," "constant currency Immunohematology revenue changes," "constant currency Immunohematology revenue changes, excluding China," "constant currency Point of Care revenue changes," "constant currency Triage revenue changes," "adjusted EBITDA," "adjusted EBITDA margin," "adjusted diluted EPS" and other non-GAAP financial measures included in the reconciliation tables accompanying this press release. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). These non-GAAP financial measures eliminate impacts of certain non-cash, unusual or other items that the Company does not consider indicative of its ongoing operating performance, and the Company generally uses these non-GAAP financial measures to facilitate management's financial and operational decision-making, including evaluation of the Company's historical operating results and comparison to competitors' operating results. The Company's definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company's operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures, may provide a more complete understanding of factors and trends affecting the Company's business. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company's reported results of operations, management strongly encourages investors to review the Company's consolidated financial statements and reports filed with the Commission in their entirety. Reconciliations of the historical non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables accompanying this press release.

Investor Contact:
Juliet Cunningham
Vice President, Investor Relations
[email protected] 

Media Contact:
Stephanie Kleewein
Senior Corporate Communications and PR Manager
[email protected] 

QuidelOrtho
Consolidated Statements of Loss
(Unaudited)
(In millions, except per share data)

Three Months Ended

Six Months Ended

June 28, 2026

June 29, 2025

June 28, 2026

June 29, 2025

Total revenues

$        630.9

$        613.9

$     1,250.7

$     1,306.7

Cost of sales, excluding amortization of intangibles

358.0

339.0

714.0

688.5

Selling, marketing and administrative

189.7

178.0

389.0

365.0

Research and development

48.7

45.7

93.6

98.9

Amortization of intangible assets

49.0

47.9

95.8

95.9

Restructuring, integration and other charges

6.5

178.9

10.9

195.0

Other operating expenses

0.8

5.1

1.0

11.5

Operating loss

(21.8)

(180.7)

(53.6)

(148.1)

Interest expense, net

54.7

40.5

105.8

80.5

Other expense, net

4.7

8.4

1.3

9.8

Loss before income taxes

(81.2)

(229.6)

(160.7)

(238.4)

Provision for income taxes

11.7

25.8

24.0

29.7

Net loss

$        (92.9)

$       (255.4)

$      (184.7)

$      (268.1)

Basic loss per share

$        (1.36)

$        (3.77)

$        (2.71)

$        (3.97)

Diluted loss per share

$        (1.36)

$        (3.77)

$        (2.71)

$        (3.97)

Weighted-average shares outstanding - basic

68.3

67.7

68.2

67.6

Weighted-average shares outstanding - diluted

68.3

67.7

68.2

67.6

QuidelOrtho
Condensed Consolidated Balance Sheets
(Unaudited)
(In millions)

June 28, 2026

December 28, 2025

ASSETS

Current assets:

Cash and cash equivalents

$              123.4

$              169.8

Accounts receivable, net

352.0

417.0

Inventories

618.9

577.6

Prepaid expenses and other current assets

249.9

250.5

Assets held for sale

32.4

32.4

Total current assets

1,376.6

1,447.3

Property, plant and equipment, net

1,338.6

1,358.3

Right-of-use assets

155.8

155.5

Intangible assets, net

2,678.4

2,563.8

Other assets

165.9

244.4

Total assets

$            5,715.3

$            5,769.3

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$              236.5

$              279.4

Accrued payroll and related expenses

76.8

120.3

Income tax payable

14.0

11.5

Current portion of borrowings

355.7

178.3

Other current liabilities

310.4

376.6

Total current liabilities

993.4

966.1

Operating lease liabilities

152.5

154.4

Long-term borrowings

2,535.4

2,471.9

Deferred tax liabilities

122.1

90.0

Other liabilities

137.0

166.4

Total liabilities

3,940.4

3,848.8

Total stockholders' equity

1,774.9

1,920.5

Total liabilities and stockholders' equity

$            5,715.3

$            5,769.3

QuidelOrtho
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(In millions)

Six Months Ended

June 28, 2026

June 29, 2025

Cash (used for) provided by operating activities

$           (143.6)

$              18.8

Cash used for investing activities

(141.3)

(89.2)

Cash provided by financing activities

238.2

120.9

Effect of exchange rates on cash

0.3

2.7

Net (decrease) increase in cash, cash equivalents and restricted cash

(46.4)

53.2

Cash, cash equivalents and restricted cash at beginning of period

169.8

98.5

Cash, cash equivalents and restricted cash at end of period

$            123.4

$            151.7

QuidelOrtho
Reconciliation of Non-GAAP Financial Information - Adjusted Net Income
(In millions, except per share data; unaudited)

Three Months Ended

Six Months Ended

June 28, 2026

Diluted EPS

June 29, 2025

Diluted EPS

June 28, 2026

Diluted EPS

June 29, 2025

Diluted EPS

Net loss

$       (92.9)

$     (1.36)

$      (255.4)

$     (3.77)

$      (184.7)

$     (2.71)

$      (268.1)

$     (3.97)

Adjustments:

Amortization of intangibles

49.0

47.9

95.8

95.9

Restructuring, integration and other charges

6.5

178.9

10.9

195.0

Amortization of deferred cloud computing implementation costs

9.2

6.8

17.2

11.1

Employee compensation charges

4.5

—

10.0

—

Tax indemnification expense

3.3

—

3.3

—

Incremental depreciation on PP&E fair value adjustment

3.2

5.4

6.5

10.6

Accelerated depreciation

2.1

1.0

4.1

1.0

EU medical device regulation transition costs

0.7

0.1

1.4

0.3

Loss (gain) on investments

8.1

(1.0)

9.0

(1.3)

Other adjustments

6.8

0.8

11.5

2.0

Income tax impact of adjustments

8.7

23.4

21.8

11.6

Adjusted net income

$          9.2

$      0.13

$          7.9

$      0.12

$          6.8

$      0.10

$         58.1

$      0.86

Weighted-average shares outstanding - diluted

68.6

67.9

68.5

67.9

QuidelOrtho
Reconciliation of Non-GAAP Financial Information - Adjusted EBITDA
(In millions, unaudited)

Three Months Ended

Six Months Ended

June 28, 2026

June 29, 2025

June 28, 2026

June 29, 2025

Net loss

$      (92.9)

$     (255.4)

$     (184.7)

$     (268.1)

Depreciation and amortization

116.7

110.3

229.6

217.4

Interest expense, net

54.7

40.5

105.8

80.5

Provision for income taxes

11.7

25.8

24.0

29.7

Restructuring, integration and other charges

6.5

178.9

10.9

195.0

Amortization of deferred cloud computing implementation costs

9.2

6.8

17.2

11.1

Employee compensation charges

4.5

—

10.0

—

Tax indemnification expense

3.3

—

3.3

—

EU medical device regulation transition costs

0.7

0.1

1.4

0.3

Loss (gain) on investments

8.1

(1.0)

9.0

(1.3)

Other adjustments

6.8

0.8

11.5

2.0

Adjusted EBITDA

$      129.3

$      106.8

$      238.0

$      266.6

Total revenues

$      630.9

$      613.9

$    1,250.7

$    1,306.7

Adjusted EBITDA margin

20.5 %

17.4 %

19.0 %

20.4 %

QuidelOrtho
Reconciliation of Non-GAAP Financial Information - Revenues
(In millions, unaudited)

Three Months Ended

June 28, 2026

June 29, 2025

% Change

Currency
Impact

Constant
Currency (a)

Labs

$        382.9

$        369.7

3.6 %

1.2 %

2.4 %

Immunohematology

134.2

132.3

1.4 %

0.7 %

0.7 %

Donor Screening

4.0

13.3

(69.9) %

(0.4) %

(69.5) %

Point of Care

108.2

93.0

16.3 %

0.6 %

15.7 %

Molecular Diagnostics

1.6

5.6

(71.4) %

0.6 %

(72.0) %

Total revenues

$        630.9

$        613.9

2.8 %

0.9 %

1.9 %

Three Months Ended

June 28, 2026

June 29, 2025

% Change

Currency
Impact

Constant
Currency (a)

Total revenues

$        630.9

$        613.9

2.8 %

0.9 %

1.9 %

China revenue

67.8

83.4

(18.7) %

4.6 %

(23.3) %

Total revenues excluding China

$        563.1

$        530.5

6.1 %

0.2 %

5.9 %

Three Months Ended

June 28, 2026

June 29, 2025

% Change

Currency
Impact

Constant
Currency (a)

Labs

$        382.9

$        369.7

3.6 %

1.2 %

2.4 %

China Labs

56.1

69.8

(19.6) %

4.6 %

(24.2) %

Total Labs revenues excluding China

$        326.8

$        299.9

9.0 %

0.2 %

8.8 %

(a)

The term "constant currency" means we have translated local currency revenues for all reporting periods to U.S. dollars using currency exchange rates held constant for each period. This additional non-GAAP financial information is not meant to be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP.

Three Months Ended

June 28, 2026

June 29, 2025

% Change

Currency
Impact

Constant
Currency (a)

Immunohematology

$        134.2

$        132.3

1.4 %

0.7 %

0.7 %

China Immunohematology

6.7

10.8

(38.0) %

3.8 %

(41.8) %

Total Immunohematology revenues excluding China

$        127.5

$        121.5

4.9 %

0.3 %

4.6 %

Three Months Ended

June 28, 2026

June 29, 2025

% Change

Currency
Impact

Constant
Currency (a)

Triage

$         32.9

$         29.8

10.4 %

1.5 %

8.9 %

All other

75.3

63.2

Point of Care revenue

$        108.2

$         93.0

16.3 %

0.6 %

15.7 %

(a)

The term "constant currency" means we have translated local currency revenues for all reporting periods to U.S. dollars using currency exchange rates held constant for each period. This additional non-GAAP financial information is not meant to be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP.

SOURCE QuidelOrtho Corporation

Posted by Defense World Staff on Aug 3rd, 2026

Edgestream Partners L.P. purchased a new stake in QuidelOrtho Corporation (NASDAQ:QDEL – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 117,888 shares of the company’s stock, valued at approximately $1,937,000. Edgestream Partners L.P. owned 0.17% of QuidelOrtho at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of QuidelOrtho by 7.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,832,098 shares of the company’s stock worth $337,925,000 after acquiring an additional 819,908 shares during the period. Invesco Ltd. increased its position in QuidelOrtho by 19.4% during the 4th quarter. Invesco Ltd. now owns 3,470,656 shares of the company’s stock valued at $99,122,000 after purchasing an additional 563,893 shares during the period. Dimensional Fund Advisors LP increased its position in QuidelOrtho by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,048,768 shares of the company’s stock valued at $50,085,000 after purchasing an additional 212,481 shares during the period. State Street Corp raised its holdings in QuidelOrtho by 1.3% during the 4th quarter. State Street Corp now owns 2,704,355 shares of the company’s stock worth $77,236,000 after purchasing an additional 35,616 shares during the last quarter. Finally, Newtyn Management LLC lifted its position in shares of QuidelOrtho by 58.3% in the 3rd quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after purchasing an additional 994,332 shares during the period. 99.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In A number of equities research analysts have recently commented on QDEL shares. UBS Group reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of QuidelOrtho in a research note on Thursday, May 7th. Wall Street Zen raised shares of QuidelOrtho from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of QuidelOrtho from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of QuidelOrtho in a research report on Monday, June 29th. Finally, Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, QuidelOrtho currently has an average rating of “Reduce” and a consensus target price of $13.62.

Check Out Our Latest Report on QDEL

QuidelOrtho Price Performance QuidelOrtho stock opened at $16.77 on Monday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.94 and a beta of 0.68. QuidelOrtho Corporation has a 52-week low of $9.92 and a 52-week high of $35.58. The stock’s 50 day moving average price is $15.37 and its two-hundred day moving average price is $18.06. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.43.

QuidelOrtho (NASDAQ:QDEL – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.41). The company had revenue of $619.80 million for the quarter, compared to analyst estimates of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. QuidelOrtho has set its FY 2026 guidance at 1.800-2.000 EPS. On average, equities analysts predict that QuidelOrtho Corporation will post 1.87 earnings per share for the current year.

QuidelOrtho Profile (Free Report)

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.

Read More Five stocks we like better than QuidelOrtho 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion

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QuidelOrtho to Report Second Quarter 2026 Financial Results PR Newswire SAN DIEGO, July 24, 2026

Investor litigation firm Kaskela Law announces that it is investigating QuidelOrtho Corporation (Nasdaq: QDEL) (“QuidelOrtho”) on behalf of the company’s long-term investors.

Click here for additional information: https://kaskelalaw.com/case/quidelortho-corp/

Recently a securities fraud complaint was filed against QuidelOrtho on behalf of certain investors who purchased shares of the company’s stock between February 17, 2022 and April 1, 2024 (the “Wrongdoing Period”). According to the complaint, during the Wrongdoing Period, the defendants made a series of materially false and misleading statements to investors concerning QuidelOrtho’s business, operations, and prospects.

As further detailed in the complaint, on February 13, 2024, QuidelOrtho issued a press release reporting disappointing quarterly financial results, and “slashed” its 2024 financial forecasts, including a dramatic cut to its COVID-19 revenue forecast. On this news, shares of the company’s stock fell $21.50 per share, or 32% in value, to close on February 14, 2024 at $45.27 per share, on unusually heavy trading volume.

The investigation seeks to determine whether the members of QuidelOrtho’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

Current QuidelOrtho shareholders who purchased or acquired their QDEL shares prior to February 13, 2024 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this investigation and their legal rights and options at (484) 229 – 0750, by email at [email protected], or online at:

https://kaskelalaw.com/case/quidelortho-corp/

ABOUT KASKELA LAW:

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis (i.e., the firm’s clients are never responsible for any out-of-pocket costs for legal representation). Since 2020, the firm has helped to recover over $500 million for investors. For additional information about Kaskela Law LLC, including the firm’s recent notable recoveries for investors, please visit www.kaskelalaw.com.

This communication may constitute attorney advertising in certain jurisdictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260723699295/en/

, /PRNewswire/ -- QuidelOrtho Corporation (Nasdaq: QDEL), a global leader of in vitro diagnostics, has released episode 59 of its Science Bytes podcast examining how the drug overdose landscape continues to evolve and what laboratory and emergency department professionals need to know to support patient care. Based on new guidance from the Association for Diagnostics and Laboratory Medicine (ADLM), the episode explores the growing complexity of toxicology testing amid counterfeit medications, polysubstance use and emerging synthetic opioids.

QuidelOrtho Science Bytes | Episode 59 Hosted by Josh Casey, the episode features Vonda McAllister, Director of Global Product Management at QuidelOrtho. Together, they discuss encouraging declines in overdose mortality while highlighting the ongoing challenges facing clinicians and laboratorians as the illicit drug supply becomes increasingly unpredictable.

Key Insights:

U.S. overdose deaths declined for a third consecutive year in 2025, signaling progress in the fight against the opioid crisis Counterfeit medications remain a significant threat, with millions of fentanyl-laced pills seized annually Polysubstance use is increasingly common, creating more complex clinical presentations for patients Emerging synthetic opioids such as nitazenes are attracting attention due to their potency and limited detectability in routine screening New ADLM guidance emphasizes collaboration between laboratories and emergency departments to improve toxicology testing and interpretation Despite progress in reducing overdose deaths, the discussion underscores that the crisis has not disappeared. Instead, it has evolved into a broader challenge requiring ongoing awareness, education and collaboration across the healthcare continuum.

The episode also highlights the critical role laboratories play in helping clinicians understand toxicology results, select appropriate testing strategies and make informed patient care decisions in rapidly changing drug environments.

Listen to the latest episode of the QuidelOrtho Science Bytes podcast on major streaming platforms or at: https://www.quidelortho.com/global/en/resources/podcasts/quidelortho-science-bytes 

About QuidelOrtho Corporation
With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.

Investor Contact: 
Juliet Cunningham
Vice President, Investor Relations
[email protected]

Media Contact: 
Stephanie Kleewein
Senior Corporate Communication and PR Manager
[email protected]

SOURCE QuidelOrtho Corporation

, /PRNewswire/ -- QuidelOrtho Corporation (Nasdaq: QDEL)("QuidelOrtho"), a leading global provider of diagnostic solutions, today announced that the Compensation Committee of the Company's Board of Directors approved the grant of restricted stock units ("RSUs") with respect to 356,555 shares of the Company's common stock (the "Inducement Grant") to Micah Young, the Company's Chief Financial Officer and principal financial officer. The Inducement Grant was granted pursuant to the Company's 2026 Inducement Plan and as an inducement material to Mr. Young's entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2026 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of QuidelOrtho, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with QuidelOrtho, pursuant to Nasdaq Listing Rule 5635(c)(4).

The RSUs were granted with a grant date of July 15, 2026, and will vest in equal annual installments on the first three anniversaries of the grant date, subject to Mr. Young's continued employment with the Company through each applicable vesting date. The RSUs are subject to the terms and conditions of the 2026 Inducement Plan and the terms and conditions of a RSU award agreement covering the grant.

QuidelOrtho is dedicated to advancing diagnostics to power a healthier future. For more information, please visit quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and X.

About QuidelOrtho Corporation

With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.

Investor Contact:
Juliet Cunningham
Vice President, Investor Relations
[email protected]

Media Contact:
Stephanie Kleewein
Senior Corporate Communication and PR Manager
[email protected]

SOURCE QuidelOrtho Corporation

QuidelOrtho (QDEL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Key Takeaways QuidelOrtho is poised for growth on its strong product portfolio and cost-saving progress.QDEL's Labs business leads first-quarter revenues, with Immunohematology and Point of Care adding support.Respiratory testing remains a key swing factor as lower demand pressures revenues and margins. QuidelOrtho Corporation (QDEL - Free Report) is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism, led by mixed first-quarter 2026 results, is expected to contribute further, along with progress in cost-saving initiatives. However, risks due to overdependence on the respiratory business persist.

This Zacks Rank #3 (Hold) company has lost 50.5% in the year-to-date period compared with the 23.2% decline of the industry. The S&P 500 has witnessed 10.5% growth in the said time frame.

The renowned rapid diagnostic testing solutions provider has a market capitalization of $993.5 million. QuidelOrtho’s earnings yield of 13.8% compares favorably with the industry’s 3.5%. The company surpassed the Zacks Consensus Estimate in two of the trailing four quarters, missed once and met estimates once, delivering an average negative surprise of 15.7%.

Image Source: Zacks Investment Research

Factors Favoring QDEL’s GrowthRobust Product Portfolio: QuidelOrtho’s diversified portfolio across Labs, Immunohematology, Point of Care and Molecular Diagnostics helps cushion demand fluctuations across testing categories. In the first quarter of 2026, Labs remained the largest revenue contributor at $353.1 million, followed by Immunohematology at $138.3 million and Point of Care at $112.8 million.

The company's Sofia platform and QuickVue franchise continue to provide scale in respiratory testing, with management noting stable market share during the quarter. For 2026, QuidelOrtho expects a typical flu season and stable testing protocols, with guidance based on a 50-55 million annual flu testing market and flat COVID-related revenues compared with 2025.

Growth initiatives remain focused on menu expansion and international penetration, with the U.S. launch of its high-sensitivity troponin assay already reaching more than 300 customer shipments and the rollout of the VITROS 450 system targeting lower-volume laboratories, which management believes can drive mid-single-digit long-term growth in the Labs business.

Progress on Cost-Saving Initiatives: QuidelOrtho is leveraging restructuring and productivity initiatives to expand margins and support investments in new platforms. In first-quarter 2026, adjusted operating expenses declined 2% year over year, led by a 19% reduction in R&D spending, while management reaffirmed its full-year adjusted EBITDA margin target of approximately 23%.

Through its Optimization Plan, the company is pursuing procurement efficiencies, facility consolidation and distribution rationalization, expecting around $50 million in net cost savings through 2027 despite cumulative pre-tax charges of about $100 million. QuidelOrtho is also implementing supply-chain measures to offset tariff-related cost pressures, while the wind-down of its U.S. Donor Screening business, expected to be substantially complete by mid-2026, and normalized working capital are projected to support stronger free cash flow generation in the second half of 2026.

Mixed Q1 Results: QuidelOrtho ended the first quarter of 2026 with mixed results, where revenues surpassed the Zacks Consensus Estimate, but earnings missed significantly. The company continued to witness strength in its Labs and Immunohematology business units, while solid growth across Latin America and resilient performance in EMEA and JPAC were encouraging.

However, persistent weakness in respiratory testing continued to weigh heavily on the top line, with Point of Care and Donor Screening businesses also posting sharp declines. The company’s bottom line deteriorated year over year, while gross and operating margins contracted significantly due to lower volumes and an unfavorable business mix.

Factors That May Offset the Gains for QDELOverdependence on Respiratory Segment:  Respiratory testing remains a key swing factor for QuidelOrtho’s revenues and profitability despite the post-pandemic reset. First-quarter 2026 results were pressured by a milder and shorter respiratory season, with influenza-like illness visits declining roughly 30% year over year and respiratory revenues totaling $68 million. While management indicated that testing protocols and market share remained stable, suggesting the weakness was demand-driven rather than competitive, the lower respiratory contribution reduced product mix and contributed to a 630-basis point decline in adjusted gross margin.

For 2026, the company assumes a 50-55 million annual flu market and flat COVID revenues versus 2025, but still expects full-year respiratory revenues to decline, implying that even modest shifts in seasonality or testing volumes could continue to create significant variability in quarterly results and cash generation.

Estimate TrendQuidelOrtho is witnessing a stable estimate revision trend for 2026. In the past 30 days, the Zacks Consensus Estimate for its earnings has remained stable at $2.01 per share.

The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $625.4 million, indicating 1.9% growth from the year-ago quarter’s reported number.

Key PicksSome better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , West Pharmaceutical (WST - Free Report) and Intuitive Surgical (ISRG - Free Report) .

Globus Medical, currently flaunting a Zacks Rank #1 (Strong Buy), reported a first-quarter 2026 adjusted earnings per share (EPS) of $1.12 per share, which surpassed the Zacks Consensus Estimate by 22.1%. Revenues of $759.9 million beat the Zacks Consensus Estimate by 4.0%. You can see the complete list of today’s Zacks #1 Rank stocks here.

GMED has an estimated long-term earnings growth rate of 10.2% compared with the industry’s 12.6% growth. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 26.3%.

West Pharmaceutical, currently sporting a Zacks Rank #1, reported first-quarter 2026 EPS of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%.

WST has an estimated long-term earnings growth rate of 13.9% compared with the industry’s 9.5% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 19.4%.

Intuitive Surgical, carrying a Zacks Rank #2 (Buy) at present, reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.

ISRG has a long-term estimated growth rate of 14.6% compared with the industry’s 12.6% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.

Weak Flu Season, China Snags Weigh On Q1 SalesThe diagnostic healthcare products maker reported preliminary unaudited revenue in the range of $615 million to $620 million for the first quarter, compared to the consensus of $680.59 million.

The results reflect a weaker respiratory season, with U.S. Influenza-like Illness visits down about 30% compared to the prior-year period, along with slower China distributor sales and delays in certain EMEA orders, the company said.

The San Diego, California-based company also expects free cash flow to be negative in the first half of 2026, with first-quarter free cash flow projected in the range of $(65) million to $(70) million.

Still, the full-year 2026 free cash flow is expected to be positive.

Analyst Flags Execution Risks Despite Management ConfidenceWilliam Blair said management still believes hitting the low end of its guidance is achievable following the update, but analyst Andrew Brackmann expects investors to remain skeptical.

Reaching the low end would depend on several favorable assumptions: a typical fourth-quarter respiratory season, no meaningful reimbursement changes in China—where visibility remains limited—and a normalization in the Middle East, which accounts for 3%–4% of sales and has yet to show improvement despite the ceasefire.

China Uncertainty And Segment Weakness Cloud OutlookWilliam Blair expects estimates to fall below the guidance range, particularly given ongoing uncertainty in China. Any disruption in that high-margin segment could have an outsized impact on earnings.

While factors outside management's control largely drove the first-quarter miss, the analyst believes investors will focus on broader risks.

The core business, representing about 70% of revenue, remains solid, but weakness in the remaining 30% is weighing on overall financial performance. Elevated debt levels and limited near-term free cash flow compound this.

The stock's decline reflects continued concern around the China business, where management has limited control.

Potential reimbursement changes add another layer of uncertainty, with unclear timing and financial impact.

QDEL Price Action: QuidelOrtho shares were down 32.13% at $11.87 at the time of publication on Thursday. The stock is trading at a new 52-week low, according to Benzinga Pro data.

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– Marks a Milestone in QuidelOrtho's Plans to Accelerate Growth in Point-of-Care Molecular Diagnostics –
– Expands Portfolio with Ultra-Fast PCR Platform Designed to Deliver Results in Approximately Ten Minutes or Less –
– Company Expects to Initiate U.S. Commercial Launch of the LEX VELO System Later This Year –

, /PRNewswire/ -- QuidelOrtho Corporation (Nasdaq: QDEL) (the "Company" or "QuidelOrtho"), a global leader of innovative in vitro diagnostics, announced today it has completed the acquisition of LEX Diagnostics ("LEX") for cash consideration of approximately $100 million. The LEX VELO System received U.S. Food and Drug Administration ("FDA") 510(k) clearance and CLIA waiver in February 2026.

LEX Diagnostics The LEX VELO System is a breakthrough molecular diagnostics platform that is designed to deliver highly sensitive, multiplex RT-PCR testing for Influenza A, Influenza B and COVID-19 directly from a swab sample in approximately six to ten minutes. Its proprietary cartridge-based design supports rapid clinical decision-making in decentralized care environments by eliminating the need for external liquid handling; delivering speed, reliability and ease of use. The acquisition of LEX marks a critical milestone in QuidelOrtho's molecular diagnostics strategy to accelerate its growth in point-of-care molecular diagnostics by acquiring innovative technology within one of the fastest-growing segments of the diagnostics market.

"The FDA clearance of the LEX VELO System and the completion of our acquisition of LEX mark a pivotal moment for QuidelOrtho and for our customers," said Brian J. Blaser, President and Chief Executive Officer of QuidelOrtho. "This ultra-fast PCR platform is designed to deliver lab-quality results in minutes and fits seamlessly into point-of-care workflows. It empowers providers to act faster, make better-informed decisions and ultimately improve patient outcomes. It also reflects our long-term commitment to bringing advanced diagnostics closer to the patient."

Completing the acquisition of LEX expands QuidelOrtho's molecular diagnostics portfolio while complementing the Company's leadership positions in immunoassay, clinical chemistry and transfusion medicine. It reinforces QuidelOrtho's ability to deliver integrated diagnostic solutions across the continuum of care, from point of care to hospital, lab to clinic.

"LEX achieved an extraordinary milestone with FDA clearance and CLIA waiver of the LEX VELO System," said Ed Farrell, Chief Executive Officer of LEX. "We are proud to join QuidelOrtho and to bring this technology to customers worldwide. We believe we can redefine what is possible in point-of-care molecular diagnostics."

QuidelOrtho expects to initiate the U.S. commercial launch of the LEX VELO System later this year. Global expansion is expected to follow, subject to local regulatory approvals.

QuidelOrtho is dedicated to advancing diagnostics to power a healthier future. For more information, please visit quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and X.

About QuidelOrtho Corporation
With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herein that is not strictly historical, including, but not limited to, QuidelOrtho's commercial and other strategic goals, and other future plans, objectives, strategies, expectations and intentions. Without limiting the foregoing, the words "may," "will," "could," "would," "should," "might," "expect," "anticipate," "believe," "estimate," "plan," "intend," "goal," "project," "strategy," "future," "continue," "aim," "strive," "seek" or similar words, expressions or the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Such statements are based on the beliefs and expectations of QuidelOrtho's management as of the date of this press release and are subject to significant known and unknown risks and uncertainties. Actual results or outcomes may differ significantly from those set forth or implied in the forward-looking statements. The following factors, among others, could cause actual results or outcomes to differ from those set forth or implied in the forward-looking statements: fluctuations in demand for QuidelOrtho's non-respiratory and respiratory products; supply chain, production, logistics, distribution and labor disruptions and challenges, including disruptions and challenges related to the 2026 Middle East conflict; inability to successfully identify, consummate or realize the anticipated benefits of strategic transactions, strategic restructurings, divestitures, spin-offs or discontinuances of certain business operations, or debt financings, on the anticipated timelines, or at all; delays in the development of or failures or delays in the receipt of approvals for new or enhanced products; failure of new products and services to be commercially viable or accepted; changes in reimbursement rates for QuidelOrtho's products, including reimbursement rate reductions proposed by the China National Health Security Administration; and other macroeconomic, geopolitical, market, business, competitive and/or regulatory factors affecting the business of QuidelOrtho generally, including those arising from the effects of announced or future or amended tariffs, trade policies, investigations and global trade relations, as well as those discussed in QuidelOrtho's Annual Report on Form 10-K for the fiscal year ended December 28, 2025 and subsequent reports filed with the Securities and Exchange Commission, including under Part I, Item 1A, "Risk Factors" of the Form 10-K. You should not rely on forward-looking statements as predictions of future events because these statements are based on assumptions that may not come true and are speculative by their nature. All forward-looking statements are based on information currently available to QuidelOrtho and speak only as of the date of this press release. QuidelOrtho undertakes no obligation to update any of the forward-looking information or time-sensitive information included in this press release, whether as a result of new information, future events, changed expectations or otherwise, except as required by law.

Investor Contact:
Juliet Cunningham
Vice President, Investor Relations
[email protected]

Media Contact:
Stephanie Kleewein
Senior Corporate Communications and PR Manager
[email protected]

SOURCE QuidelOrtho Corporation

Posted by Defense World Staff on Apr 23rd, 2026

QuidelOrtho (NASDAQ:QDEL – Get Free Report) and United Health Products (OTCMKTS:UEEC – Get Free Report) are both small-cap medical companies, but which is the better business? We will compare the two companies based on the strength of their earnings, institutional ownership, risk, dividends, valuation, profitability and analyst recommendations.

Earnings & Valuation This table compares QuidelOrtho and United Health Products”s gross revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio QuidelOrtho $2.73 billion 0.30 -$1.13 billion ($16.66) -0.71 United Health Products N/A N/A -$2.67 million ($0.01) -9.00 United Health Products has lower revenue, but higher earnings than QuidelOrtho. United Health Products is trading at a lower price-to-earnings ratio than QuidelOrtho, indicating that it is currently the more affordable of the two stocks.

Analyst Recommendations This is a breakdown of recent ratings and target prices for QuidelOrtho and United Health Products, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score QuidelOrtho 3 2 1 0 1.67 United Health Products 0 0 0 0 0.00 QuidelOrtho presently has a consensus target price of $28.25, indicating a potential upside of 137.39%. Given QuidelOrtho’s stronger consensus rating and higher probable upside, equities analysts plainly believe QuidelOrtho is more favorable than United Health Products.

Profitability This table compares QuidelOrtho and United Health Products’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets QuidelOrtho -41.46% 5.91% 2.37% United Health Products N/A N/A -1,787.77% Insider and Institutional Ownership 99.0% of QuidelOrtho shares are held by institutional investors. Comparatively, 0.1% of United Health Products shares are held by institutional investors. 0.8% of QuidelOrtho shares are held by insiders. Comparatively, 1.5% of United Health Products shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock will outperform the market over the long term.

Volatility and Risk QuidelOrtho has a beta of 0.92, suggesting that its share price is 8% less volatile than the S&P 500. Comparatively, United Health Products has a beta of -0.69, suggesting that its share price is 169% less volatile than the S&P 500.

Summary QuidelOrtho beats United Health Products on 9 of the 13 factors compared between the two stocks.

About QuidelOrtho (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. The Transfusion Medicine business unit offers immunohematology instruments and tests used for blood typing to ensure patient-donor compatibility in blood transfusions; and donor screening instruments and tests used for blood and plasma screening for infectious diseases. The Point-of-Care business unit provides instruments and tests to provide rapid results across a continuum of point-of-care settings. The Molecular Diagnostics business unit offers polymerase chain reaction thermocyclers; amplification systems; and sample-to-result molecular instruments and tests for syndromic infectious disease diagnostics. The company sells its products directly to end users through a direct sales force; and through a network of distributors for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, urgent care clinics, universities, retail clinics, pharmacies, wellness screening centers, blood banks, and donor centers, as well as for individual, non-professional, and over-the-counter use. It operates in North America, Europe, the Middle East, Africa, China, and internationally. The company was incorporated in 1979 and is headquartered in San Diego, California.

About United Health Products (Get Free Report)

United Health Products, Inc. develops, manufactures, and markets hemostatic gauze products for the healthcare and wound care sectors in the United States. The company offers HemoStyp hemostatic gauze products to absorb exudate/drainage from superficial wounds, as well as helps in controlling bleeding. It serves hospitals and surgery centers, clinics and physicians, military medical care providers, hemodialysis centers, nursing homes and assisted living, and veterinary hospitals; and EMS, fire departments, and other first responders, as well as dental, oral, and maxillofacial surgery offices. The company was formerly known as United EcoEnergy Corp. and changed its name to United Health Products, Inc. in September 2010. United Health Products, Inc. was incorporated in 1997 and is headquartered in Mount Laurel, New Jersey.

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On April 27, 2026, QuidelOrtho Corp QDEL shares rose 6.1% today, currently trading at $12.29. The stock has experienced a volatile year, with a 52-week range between $10.86 and $38.99.

GF Value™ verdict: Current price of $12.29 is 69.0% below the GF Value™ of $39.69.GF Score™ of 60/100 indicates the stock is rated above average.Notable signal: Insider activity shows that insiders have bought $0.6 million worth of shares in the last 3 months, with no selling. Is QDEL Overvalued or Undervalued? QuidelOrtho Corp QDEL presents an intriguing valuation scenario as its current price of $12.29 is significantly below the GF Value™ of $39.69, indicating that the stock is 69.0% undervalued. This substantial margin of safety could suggest an opportunity for investors, especially in light of the company's GF Valuation label, which categorizes it as a possible value trap. This label serves as a cautionary note, urging potential investors to proceed with care.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. While the undervaluation may attract interest, it is crucial to consider the risks associated with the company’s current financial condition and market sentiment.

How Does QDEL's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 5.8x 6.6x Currently, QDEL's forward P/E of 5.8x is below its 5-year median P/E of 6.6x, indicating that the stock is trading at a lower valuation compared to its historical averages. This P/E analysis aligns with the GF Value™ verdict of undervaluation, suggesting that QDEL may offer potential upside if the company can stabilize its operations and improve market perception.

What Does QDEL's GF Score™ Tell Us? Metric Rating GF Score™ 60/100 Financial Strength 3/10 Profitability 6/10 Growth 3/10 Valuation 2/10 Momentum 4/10 The GF Score™ of 60/100 reflects above-average potential, but also reveals areas of concern. The strongest aspect is profitability, rated at 6/10, while financial strength and valuation are notably weaker, with scores of 3/10 and 2/10, respectively. This indicates that while the company may generate profits, it faces challenges in maintaining robust financial health and an attractive valuation. Investors should weigh these factors carefully when considering the stock.

What Are Insiders Doing with QDEL Stock? Recent insider activity indicates a positive sentiment among QDEL's executives, with insiders purchasing $0.6 million worth of shares in the last three months and no selling reported. This pattern of buying can be interpreted as a sign of confidence in the company's future prospects, potentially signaling that insiders believe the current stock price does not reflect the true value of the business.

However, while insider buying can be a bullish indicator, it is essential to consider the broader market context and the company's financial metrics before making any judgments about the sustainability of such trends.

What This Means for Investors Based on the analysis, QuidelOrtho Corp QDEL appears to be undervalued according to the GF Value™ assessment. However, the company's financial strength and valuation ranks pose potential risks that warrant caution. Investors should remain vigilant and conduct thorough due diligence before considering any positions in QDEL.

For the complete analysis, visit the QuidelOrtho Corp QDEL stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is QDEL's GF Score™?

QDEL has a GF Score™ of 60/100, indicating it is rated above average based on key financial metrics and historical performance.

Is QDEL overvalued or undervalued?

According to the GF Value™, QDEL is currently undervalued, trading at 69.0% below its intrinsic value estimate of $39.69.

What is QDEL's P/E ratio?

QDEL's forward P/E ratio is 5.8x, which is below its 5-year median P/E of 6.6x, suggesting that the stock is trading at a lower valuation compared to its historical averages.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

QuidelOrtho (QDEL - Free Report) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of $0.37. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -110.81%. A quarter ago, it was expected that this medical diagnostics company would post earnings of $0.43 per share when it actually produced earnings of $0.46, delivering a surprise of +6.98%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

QuidelOrtho, which belongs to the Zacks Medical - Products industry, posted revenues of $619.8 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.28%. This compares to year-ago revenues of $692.8 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

QuidelOrtho shares have lost about 56.5% since the beginning of the year versus the S&P 500's gain of 5.2%.

What's Next for QuidelOrtho?While QuidelOrtho has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for QuidelOrtho was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.05 on $609.35 million in revenues for the coming quarter and $2.18 on $2.69 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Cresco Labs Inc. (CRLBF - Free Report) , is yet to report results for the quarter ended March 2026.

This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +25%. The consensus EPS estimate for the quarter has been revised 30% higher over the last 30 days to the current level.

Cresco Labs Inc.'s revenues are expected to be $148.64 million, down 10.3% from the year-ago quarter.

Key Takeaways QuidelOrtho reported a Q1 adjusted loss of 4 cents per share, missing the consensus estimate.QDEL revenues fell 10.5% year over year as respiratory and Point of Care sales declined sharply.QuidelOrtho maintained 2026 revenue guidance of $2.7B-$2.75B despite margin pressure. QuidelOrtho Corporation (QDEL - Free Report) delivered adjusted loss per share of 4 cents in first-quarter 2026 against earnings per share (EPS) of 74 cents in the prior-year quarter. The figure missed the Zacks Consensus Estimate by 110.8%.

The adjustments include expenses related to the amortization of intangibles, acquisition and integration costs, among others.

GAAP loss per share for the quarter was $1.35 compared with the year-earlier loss of 19 cents.

QDEL’s Revenues in DetailQuidelOrtho registered revenues of $619.8 million in the first quarter of 2026, which decreased 10.5% year over year on a reported basis and 12.6% at constant exchange rate (CER). However, the figure surpassed the Zacks Consensus Estimate by 0.3%.

In the first quarter, Respiratory revenues were $67.9 million (down 43.3% on a reported basis and 43.6% at CER), while Non-Respiratory revenues were $551.9 million (down 3.7% on a reported basis and 6.2% at CER).

Shares of the company lost around 6% in yesterday’s trading session.

QuidelOrtho’s Business Units in DetailQuidelOrtho derives revenues from five business units — Labs, Immunohematology, Donor Screening, Point of Care and Molecular Diagnostics. As a result of the wind-down of the U.S. Donor Screening portfolio, the previously reported Transfusion Medicine business unit is now presented in its two product categories — Immunohematology and Donor Screening.

In the first quarter, Labs revenues were $353.1 million, down 5.3% on a reported basis and 7.6% at CER.

Immunohematologyrevenues were $138.3 million in the first quarter, up 7.6% and 3.4% on a reported basis and at CER, respectively.

Donor Screening revenues were $7.8 million in the first quarter, down 39.1% and 39.5% on a reported basis and at CER, respectively.

Point of Care revenues amounted to $112.8 million in the first quarter, reflecting a decline of 35%on a reported basis and 34.6% at CER.

Molecular Diagnosticsrevenues totaled $7.8million in the first quarter, up 2.6% and down 1.8% on a reported basis and at CER, respectively.

QDEL’s Geographical DistributionGeographically, QuidelOrtho derives revenues from North America, Europe, the Middle East and Africa (EMEA), China, Latin America and Japan and other Asia-Pacific markets (JPAC).

Revenues from North Americaamounted to $328.9million, reflecting a decline of 19.1% on a reported basis and 18.9% at CER.

EMEA revenues amounted to $92.5million, reflecting an increase of 4% on a reported basis and a decline of 6.1% at CER.

Revenues from China amounted to $63.5million, reflecting a decrease of 15.3% on a reported basis and 19% at CER.

Revenues from JPACamounted to $70million, reflecting an uptick of 2.8% on a reported basis and 4.7% at CER.

Revenues from Latin America amounted to $64.9million, reflecting an uptick of 20% on a reported basis and 9.3% at CER.

QuidelOrtho’s Margin TrendIn the quarter under review, QuidelOrtho’s adjusted gross profit declined 21.8% year over year to $271.2 million. The adjusted gross margin contracted 630 basis points (bps) to 43.8%.

Adjusted selling, marketing and administrative expenses increased 2.6% year over year to $184.8 million. Adjusted research and development expenses declined 19.2% year over year to $42.6 million. Adjusted operating expenses of $227.4 million decreased 2.4% year over year.

Adjusted operating profit totaled $43.6 million, reflecting an 59.5% decline from the prior-year quarter’s level. Adjusted operating margin in the first quarter contracted 850 bps to 7%.

QDEL’s Financial PositionQuidelOrtho exited the first quarter of 2026 with cash and cash equivalents of $140.4 million compared with $169.8 million at the end of the fourth quarter of 2025. Total debt (including short-term debt) at the end of first-quarter 2026 was $2.69 billion compared with $2.65 billion at the end of the fourth quarter 2025.

Net cash used by operating activities at the end of the first quarter was $33 million, against net cash provided by operating activities of $65.6 million a year ago.

QuidelOrtho’s 2026 GuidanceQuidelOrtho has provided its financial outlook for 2026.

Total revenues are expected to lie in the range of$2.7-$2.75 billion. The Zacks Consensus Estimate is pegged at $2.69 billion.

Adjusted EPS is expected to be between $1.80 and $2.00. The Zacks Consensus Estimate is pegged at $2.18 per share.

Our TakeQuidelOrtho ended the first quarter of 2026 with mixed results, where revenues surpassed the Zacks Consensus Estimate, but earnings missed significantly. The company continued to witness strength in its Labs and Immunohematology business units, while solid growth across Latin America and resilient performance in EMEA and JPAC were encouraging.

However, persistent weakness in respiratory testing continued to weigh heavily on the top line, with Point of Care and Donor Screening businesses also posting sharp declines. The company’s bottom line deteriorated year over year, while gross and operating margins contracted significantly due to lower volumes and an unfavorable business mix. Additionally, operating cash outflow and elevated debt levels remain concerns despite management maintaining its 2026 revenue outlook.

QDEL’s Zacks Rank and Key PicksQDEL currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks from the broader medical space that are expected to report earnings soon are DexCom, Inc. (DXCM - Free Report) , Encompass Health Corporation (EHC - Free Report) and The Cooper Companies, Inc. (COO - Free Report) .

The Zacks Consensus Estimate for DexCom’s first-quarter 2026 adjusted EPS is currently pegged at 47 cents. The consensus estimate for revenues is pegged at $1.18 billion. DXCM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DexCom has an estimated long-term growth rate of 20.6%. DXCM’s earnings yield of 4.1% compares favorably with the industry’s negative yield.

Encompass Health currently has a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.51. The same for revenues is pegged at $1.57 billion.

Encompass Health has an estimated long-term growth rate of 8.8%. EHC’s earnings yield of 5.9% compares favorably with the industry’s 5.6%.

Cooper Companies currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its second-quarter fiscal 2026 adjusted EPS is currently pegged at $1.10. The same for its revenues is pegged at $1.05 billion.

Cooper Companies has an estimated long-term growth rate of 8.4%. COO’s earnings yield of 7.2% compares favorably with the industry’s 6.1%.

, /PRNewswire/ -- QuidelOrtho Corporation (Nasdaq: QDEL) (the "Company" or "QuidelOrtho"), a global leader of innovative in vitro diagnostics, announced today that members of its management team will participate in two upcoming investor conferences:

William Blair 46th Annual Growth Stock Conference, Tuesday, June 2, 2026
Members of QuidelOrtho's management team will participate in a presentation at 12:20 p.m. ET / 9:20 a.m. PT.

Jefferies Global Healthcare Conference, Wednesday, June 3, 2026
Members of QuidelOrtho's management team will participate in a fireside chat at 8:10 a.m. ET / 5:10 a.m. PT.

Interested parties can access the live webcast and replay in the "Events & Presentations" section of the "Investor Relations" page of QuidelOrtho's website at https://ir.quidelortho.com/.

QuidelOrtho is dedicated to advancing diagnostics to power a healthier future. For more information, please visit quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and X.

About QuidelOrtho Corporation

With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.

Investor Contact:
Juliet Cunningham
Vice President, Investor Relations
[email protected]

Media Contact:
Stephanie Kleewein
Senior Corporate Communications and PR Manager
[email protected]

SOURCE QuidelOrtho Corporation

On May 28, 2026, QuidelOrtho Corp QDEL shares rose 6.0% today, bringing the current price to $13.06. Over the past year, the stock has experienced significant volatility, with a 52-week range between $9.92 and $35.58.

GF Value™ verdict: The current price of $13.06 is 64.9% undervalued compared to the GF Value™ estimate of $37.21.GF Score™: With a score of 48/100, QuidelOrtho Corp is considered average in terms of its overall investment quality.Most notable signal: QuidelOrtho has seen no insider transactions in the last three months, indicating a lack of insider confidence or activity. Is QDEL Overvalued or Undervalued? QuidelOrtho Corp's current share price of $13.06 represents a significant discount to the GF Value™ estimate of $37.21, suggesting that the stock is undervalued by approximately 64.9%. This margin of safety could present an interesting opportunity for potential investors; however, caution is advised due to the GF Valuation label indicating a "Possible Value Trap," which suggests that despite the apparent undervaluation, the company's fundamentals may not support a price recovery. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

While the stock appears undervalued based on GF Value™, the company's financial strength score of 3/10 and a negative Altman Z-Score of -0.16 raise questions about the sustainability of this valuation. Investors might find the potential for high returns appealing, but they should remain aware of the associated risks.

How Does QDEL's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 7.2x 6.7x QuidelOrtho's current forward P/E ratio of 7.2x is slightly above its 5-year median P/E of 6.7x, indicating that the stock is trading above its historical valuation multiples. This P/E analysis appears to disagree with the GF Value™ verdict, which suggests that while the stock may be undervalued based on intrinsic value, its current trading multiples reflect a less favorable valuation compared to its historical performance.

What Does QDEL's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).

Metric Rating GF Score™ 48 Financial Strength 3/10 Profitability 5/10 Growth 2/10 Valuation 2/10 Momentum 2/10 QuidelOrtho's GF Score™ of 48/100 indicates that the company is in the average range for investment quality. The strongest aspect of QuidelOrtho's score is its profitability ranking of 5/10, suggesting some stability in earnings performance. Conversely, the weakest areas are its growth and valuation ranks, both at 2/10, which indicate challenges in expanding revenue and maintaining a favorable valuation, respectively.

What Are Insiders Doing with QDEL Stock? In the last three months, there have been no insider transactions involving QuidelOrtho Corp stock. This lack of activity might suggest that insiders are not currently confident in the company's prospects or that they are waiting for more favorable conditions before making any moves. Such patterns can often be interpreted as a sign of uncertainty regarding future performance.

What This Means for Investors Based on the GF Value™ analysis, QuidelOrtho Corp appears to be undervalued at its current price of $13.06, with a significant upside potential when compared to the GF Value™ estimate of $37.21. However, the company's financial challenges and lack of insider activity suggest that investors should proceed with caution.

For the complete analysis, visit the QuidelOrtho Corp QDEL stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is QDEL's GF Score™?

QuidelOrtho Corp has a GF Score™ of 48/100, indicating that it is in the average range for investment quality based on various financial metrics.

Is QDEL overvalued or undervalued?

QuidelOrtho is currently undervalued according to GF Value™, which estimates its intrinsic value at $37.21, significantly higher than its current market price of $13.06.

What is QDEL's P/E ratio?

QuidelOrtho has a forward P/E ratio of 7.2x, which is above its historical median P/E of 6.7x, suggesting that the stock is trading at a higher multiple than it has historically. This could indicate a divergence from expected value based on historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Key Takeaways QDEL's respiratory revenue fell 43.3% to $67.9M as influenza-like illness visits declined.QDEL posted a 10.5% revenue decline and an adjusted loss of 4 cents per share in Q1.QuidelOrtho's gross margin fell to 43.8%, while lower testing demand lifted inventories. QuidelOrtho (QDEL - Free Report) is being reminded that respiratory testing can still significantly influence results even after the post-pandemic reset. A milder and shorter U.S. respiratory season weighed heavily on first-quarter 2026 performance, with management attributing the weakness to lower demand rather than market-share losses.

The distinction is important because respiratory testing remains a meaningful profit driver for the company. While testing protocols remained unchanged and management indicated that market share was stable, influenza-like illness visits declined roughly 30% year over year during the quarter. The weaker patient volumes translated directly into lower testing demand across retail and healthcare settings.

As a result, respiratory revenue fell 43.3% year over year to $67.9 million. The decline highlights an important reality for QuidelOrtho: even when competitive positioning remains intact, a shrinking testing market can materially impact financial performance. QDEL currently carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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The respiratory shortfall weighed on overall results. First-quarter revenue declined 10.5% year over year to $619.8 million, while the company reported an adjusted loss of 4 cents per share against adjusted earnings of 74 cents per share in the prior-year period. Non-respiratory revenue declined a more modest 3.7% to $551.9 million, helping offset some of the weakness but not enough to fully counter the steep drop in respiratory sales.

Profitability also came under pressure. Adjusted gross margin contracted 630 basis points year over year to 43.8%, reflecting a less favorable product mix and a lower contribution from respiratory testing. The margin impact underscores how sensitive QuidelOrtho's earnings profile remains to fluctuations in respiratory demand.

The softer season also affected working capital. Management noted that lower-than-expected respiratory volumes resulted in elevated inventory levels as production plans exceeded realized demand. This inventory build contributed to weaker cash generation, with operating activities using $33 million during the quarter compared with providing $65.6 million in the year-ago period.

The link between respiratory demand, profitability and cash flow remains straightforward. Lower testing volumes reduce operating leverage, pressure margins through unfavorable mix shifts and can leave inventory levels above expectations. While management continues to pursue productivity and procurement initiatives, respiratory seasonality is likely to remain a key driver of near-term performance.

Compared with more diversified diagnostics peers such as Abbott Laboratories (ABT - Free Report) and Thermo Fisher Scientific (TMO - Free Report) , QuidelOrtho remains more exposed to fluctuations in seasonal respiratory testing demand. The broader business mix at these companies helps cushion the impact of weakness in any single testing category.

For investors, the first-quarter results reinforce that stable market share alone cannot offset the effects of a shrinking end market. Until respiratory testing demand normalizes, QuidelOrtho is likely to face periodic revenue volatility, margin pressure and working-capital challenges tied to seasonal demand trends.

QDEL’s Sales & EPS PictureIn 2026, QDEL is expected to experience a 1.8% decline in revenues. On the profitability front, earnings per share are expected to decline 5.2% year over year.

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QDEL’s Valuation PictureQDEL currently trades at a price-to-book ratio of 0.49X, well below its median level of 0.70X over the past year and significantly lower than the industry’s 2.04X.

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Investors in QuidelOrtho Corporation (QDEL - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 18, 2026 $37.50 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for QuidelOrtho shares, but what is the fundamental picture for the company? Currently, QuidelOrtho is a Zacks Rank #5 (Strong Sell) in the Medical – Products industry that ranks in the Bottom 30% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 12 cents per share to 4 cents in that period.

Given the way analysts feel about QuidelOrtho right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.