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

QuidelOrtho Co. (NASDAQ:QDEL) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $58.83.

Several research analysts have recently issued reports on QDEL shares. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their price objective for the company from $40.00 to $57.00 in a report on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of QuidelOrtho in a report on Friday, August 16th. Finally, UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QDEL. Capital Performance Advisors LLP acquired a new stake in shares of QuidelOrtho in the third quarter worth $25,000. Fifth Third Bancorp boosted its stake in shares of QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after purchasing an additional 744 shares in the last quarter. GAMMA Investing LLC grew its stake in QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares during the last quarter. Headlands Technologies LLC bought a new stake in QuidelOrtho during the 1st quarter worth approximately $86,000. Finally, Innealta Capital LLC acquired a new stake in shares of QuidelOrtho in the second quarter valued at $102,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Stock Down 7.1 %

QDEL stock opened at $36.18 on Monday. The company has a market capitalization of $2.43 billion, a P/E ratio of -1.30 and a beta of 0.12. The firm has a 50 day simple moving average of $42.03 and a 200-day simple moving average of $40.45. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. QuidelOrtho has a twelve month low of $29.74 and a twelve month high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The company had revenue of $727.00 million for the quarter, compared to analysts’ expectations of $642.16 million. During the same period last year, the business posted $0.90 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that QuidelOrtho will post 1.72 earnings per share for the current fiscal 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.