QuidelOrtho Co. (NASDAQ:QDEL) Given Average Rating of “Hold” by Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has earned an average rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $58.83.

Several equities analysts have commented on QDEL shares. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a research report on Friday, August 16th. UBS Group started coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th.

Insider Buying and Selling

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 24,390 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $30.09, for a total value of $733,895.10. Following the sale, the insider now directly owns 11,141,580 shares in the company, valued at $335,250,142.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 1,697,334 shares of company stock worth $62,666,450. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On QuidelOrtho

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in shares of QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after buying an additional 744 shares during the last quarter. GAMMA Investing LLC boosted its stake in QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after acquiring an additional 378 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of QuidelOrtho during the first quarter worth about $86,000. Innealta Capital LLC purchased a new position in shares of QuidelOrtho during the second quarter worth about $102,000. Finally, Quest Partners LLC increased its position in shares of QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after purchasing an additional 3,419 shares in the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Trading Up 1.9 %

Shares of NASDAQ QDEL opened at $44.18 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $2.96 billion, a PE ratio of -1.67 and a beta of 0.08. QuidelOrtho has a twelve month low of $29.74 and a twelve month high of $75.86. The stock has a fifty day simple moving average of $42.54 and a 200-day simple moving average of $41.25.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $613.51 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that QuidelOrtho will post 1.77 earnings per share for the current year.

QuidelOrtho Company Profile

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.