Analysts Set QuidelOrtho Co. (NASDAQ:QDEL) PT at $51.20

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $51.20.

A number of equities analysts have recently issued reports on the company. UBS Group raised their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Royal Bank of Canada reduced their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QDEL. Quarry LP bought a new stake in QuidelOrtho during the 4th quarter worth approximately $43,000. True Wealth Design LLC raised its position in shares of QuidelOrtho by 300.7% during the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after purchasing an additional 806 shares during the period. Blue Trust Inc. lifted its stake in shares of QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after buying an additional 844 shares in the last quarter. Spire Wealth Management bought a new position in QuidelOrtho in the 4th quarter worth $74,000. Finally, KBC Group NV increased its stake in QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after buying an additional 1,895 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $26.91 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.89 and a beta of 0.43. The stock has a 50-day moving average of $36.77 and a 200 day moving average of $40.14. QuidelOrtho has a one year low of $25.13 and a one year high of $49.45.

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 negative net margin of 72.84% and a positive return on equity of 3.78%. On average, sell-side analysts forecast that QuidelOrtho will post 2.3 EPS 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.