Quidel Corporation (QDEL) saw its shares plunge 5.03% during Friday's intraday trading session, following a bearish analyst report from JPMorgan. The significant drop comes as investors react to the downgraded outlook for the medical diagnostic solutions provider.

JPMorgan, a leading financial services firm, reduced its price target for QuidelOrtho from $26 to $22, representing a substantial 15.4% decrease in their valuation of the company. The firm also maintained its Underweight rating on QDEL shares, signaling continued skepticism about the stock's near-term performance potential.

The lowered price target and maintained Underweight rating suggest that JPMorgan analysts have concerns about Quidel's future prospects. This negative sentiment appears to have prompted investors to reassess their positions, leading to the sharp selloff observed in the market. As trading continues, market participants will be closely monitoring any further developments or analyst opinions that could impact Quidel's stock price trajectory.