QuidelOrtho Corporation (NASDAQ:QDEL) Receives $42.17 Consensus Target Price from Brokerages

Shares of QuidelOrtho Corporation (NASDAQ:QDELGet Free Report) have received a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $42.1667.

Several research analysts have recently weighed in on QDEL shares. Wall Street Zen cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. reduced their price target on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a report on Monday, April 21st. UBS Group reduced their target price on shares of QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Citigroup reduced their target price on shares of QuidelOrtho from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Jefferies Financial Group upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Thursday, May 8th.

View Our Latest Stock Analysis on QuidelOrtho

Hedge Funds Weigh In On QuidelOrtho

A number of institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of QuidelOrtho by 1.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,447,188 shares of the company’s stock worth $400,309,000 after buying an additional 208,362 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of QuidelOrtho by 10.6% during the 1st quarter. Invesco Ltd. now owns 3,813,833 shares of the company’s stock worth $133,370,000 after buying an additional 366,387 shares during the period. State Street Corp boosted its holdings in shares of QuidelOrtho by 23.3% during the 2nd quarter. State Street Corp now owns 2,700,940 shares of the company’s stock worth $77,841,000 after buying an additional 510,291 shares during the period. AQR Capital Management LLC boosted its holdings in shares of QuidelOrtho by 230.3% during the 1st quarter. AQR Capital Management LLC now owns 2,655,576 shares of the company’s stock worth $90,130,000 after buying an additional 1,851,590 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of QuidelOrtho by 5.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company’s stock worth $88,106,000 after buying an additional 100,522 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Stock Down 0.1%

QuidelOrtho stock opened at $25.93 on Wednesday. The stock has a market capitalization of $1.76 billion, a PE ratio of -3.96 and a beta of -0.04. QuidelOrtho has a twelve month low of $22.05 and a twelve month high of $49.45. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average of $27.48 and a 200-day moving average of $31.83.

QuidelOrtho (NASDAQ:QDELGet Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.11. The company had revenue of $613.90 million during the quarter, compared to analysts’ expectations of $612.36 million. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, equities research analysts anticipate that QuidelOrtho will post 2.3 EPS for the current fiscal year.

About QuidelOrtho

(Get Free Report)

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.

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Analyst Recommendations for QuidelOrtho (NASDAQ:QDEL)

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