QuidelOrtho (NASDAQ:QDEL) Rating Lowered to Hold at StockNews.com

QuidelOrtho (NASDAQ:QDEL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities analysts have also issued reports on QDEL. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. UBS Group raised their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada lowered their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group started coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.20.

QuidelOrtho Trading Down 2.6 %

NASDAQ:QDEL opened at $40.57 on Friday. 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 1-year low of $29.74 and a 1-year high of $49.56. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -1.45 and a beta of 0.08. The business’s 50-day moving average price is $43.36 and its two-hundred day moving average price is $42.34.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. On average, equities analysts expect that QuidelOrtho will post 1.73 earnings per share for the current year.

Insider Buying and Selling

In other QuidelOrtho news, CEO Brian J. Blaser purchased 6,033 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now directly owns 6,033 shares of the company’s stock, valued at $249,886.86. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of QuidelOrtho

Several institutional investors and hedge funds have recently bought and sold shares of QDEL. Capital Performance Advisors LLP acquired a new position in shares of QuidelOrtho during the 3rd quarter worth approximately $25,000. Quarry LP bought a new position in shares of QuidelOrtho in the fourth quarter valued at $43,000. Blue Trust Inc. increased its holdings in QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after buying an additional 844 shares during the last quarter. Spire Wealth Management bought a new stake in shares of QuidelOrtho in the 4th quarter valued at about $74,000. Finally, KBC Group NV raised its stake in QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after buying an additional 1,895 shares during the period. Institutional investors own 99.00% of the company’s stock.

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.