QuidelOrtho Co. (NASDAQ:QDEL) Receives $44.33 Average Target Price from Analysts

QuidelOrtho Co. (NASDAQ:QDEL) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $44.33.

Several research analysts have issued reports on the company. UBS Group dropped their price objective on QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group upgraded QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Thursday, May 8th. Wall Street Zen lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Royal Bank of Canada dropped their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research note on Monday, April 21st.

QuidelOrtho Stock Performance

Shares of NASDAQ:QDEL opened at $30.65 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The business’s fifty day moving average price is $29.96 and its two-hundred day moving average price is $37.34. QuidelOrtho has a fifty-two week low of $23.77 and a fifty-two week high of $49.45. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -1.01 and a beta of 0.13.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.13. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The firm had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. During the same period in the prior year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, analysts predict that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

A number of hedge funds and other institutional investors have recently made changes to their positions in QDEL. Blue Trust Inc. increased its stake in shares of QuidelOrtho by 344.3% in the fourth quarter. Blue Trust Inc. now owns 1,995 shares of the company’s stock valued at $91,000 after buying an additional 1,546 shares in the last quarter. KBC Group NV boosted its holdings 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 acquiring an additional 1,895 shares during the last quarter. Gagnon Securities LLC boosted its holdings in QuidelOrtho by 45.4% in the fourth quarter. Gagnon Securities LLC now owns 91,060 shares of the company’s stock valued at $4,057,000 after acquiring an additional 28,431 shares during the last quarter. Spire Wealth Management bought a new position in QuidelOrtho in the fourth quarter valued at about $74,000. Finally, Yousif Capital Management LLC boosted its holdings in QuidelOrtho by 11.7% in the fourth quarter. Yousif Capital Management LLC now owns 25,216 shares of the company’s stock valued at $1,123,000 after acquiring an additional 2,646 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.