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

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) have been given a consensus recommendation of “Hold” by the seven analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $44.33.

QDEL has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Jefferies Financial Group upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st.

QuidelOrtho Stock Up 2.1%

Shares of QDEL opened at $28.70 on Tuesday. The firm’s 50-day simple moving average is $29.70 and its 200 day simple moving average is $36.12. QuidelOrtho has a 52 week low of $23.77 and a 52 week high of $49.45. The firm has a market cap of $1.94 billion, a P/E ratio of -5.77 and a beta of 0.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 1.20.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.13. QuidelOrtho had a negative net margin of 12.07% and a positive return on equity of 4.71%. The firm had revenue of $692.80 million for the quarter, compared to analyst estimates of $694.97 million. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that QuidelOrtho will post 2.3 earnings per share for the current year.

Institutional Trading of QuidelOrtho

Large investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of QuidelOrtho during the 4th quarter worth approximately $43,000. Summit Securities Group LLC bought a new position in QuidelOrtho in the 1st quarter valued at approximately $36,000. True Wealth Design LLC lifted its stake in QuidelOrtho by 300.7% in 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 last quarter. Blue Trust Inc. lifted its stake in QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after purchasing an additional 844 shares during the last quarter. Finally, State of Wyoming bought a new position in QuidelOrtho in the 4th quarter valued at approximately $164,000. Institutional investors and hedge funds 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.