14 Best Small Cap Stocks to Buy Right Now

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5. QuidelOrtho Corporation (NASDAQ:QDEL)

Market Capitalization: $1.94 Billion 

Number of Hedge Fund Holders: 31

QuidelOrtho Corporation (NASDAQ:QDEL) is one of the best small cap stocks to buy right now. On September 2, RBC Capital raised the price target on QuidelOrtho Corporation (NASDAQ:QDEL) stock from $60 to $62, keeping its Buy rating.

Conor McNamara from RBC Capital increased the price target on QDEL followed by QuidelOrtho’s completion of a series of transactions to refinance its debt structure and support future growth. On August 22, the company announced that it had extended its debt maturities and reduced required amortization payments.

“We are pleased to successfully complete our debt refinancing, which allows us to strengthen our capital structure while maintaining financial flexibility. Our highest capital allocation priority remains reducing our total debt and net debt leverage. By improving the debt covenant terms and reducing the required amortization over the life of the loan, we will have greater financial flexibility and options to fund the continued growth of our business, while also improving our cash flow,” said Joseph Busky, Chief Financial Officer, QuidelOrtho.

McNamara remains positive on QuidelOrtho as the company experienced notable growth in international markets during Q2 FY2025, particularly across Latin America, Japan, Asia Pacific, and EMEA regions. Moreover, the company is focused on its molecular strategy, especially the acquisition of LEX Diagnostics, which is expected to improve its growth potential.

As of September 5, QuidelOrtho Corporation’s (NASDAQ:QDEL) average price target of $37.50, based on analysts’ estimates, implies an upside of almost 30.75% from current levels.

QuidelOrtho Corporation (NASDAQ:QDEL) offers diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point of Care, and Molecular Diagnostics business units.

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