QuidelOrtho Co. (NASDAQ:QDEL) Given Average Recommendation of “Hold” by Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $58.83.

Several analysts have issued reports on QDEL shares. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. UBS Group started coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target on the stock. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th.

Insiders Place Their Bets

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in QuidelOrtho by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,854 shares of the company’s stock valued at $1,911,000 after acquiring an additional 1,648 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of QuidelOrtho during the first quarter worth about $582,000. GAMMA Investing LLC increased its holdings in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after acquiring an additional 378 shares in the last quarter. SG Americas Securities LLC raised its position in shares of QuidelOrtho by 20.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,334 shares of the company’s stock valued at $277,000 after purchasing an additional 1,404 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in QuidelOrtho by 9.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,840 shares of the company’s stock worth $227,000 after purchasing an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Down 5.6 %

Shares of NASDAQ QDEL opened at $37.60 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. QuidelOrtho has a 1 year low of $29.74 and a 1 year high of $75.86. The stock has a market capitalization of $2.53 billion, a P/E ratio of -1.35 and a beta of 0.11. The company has a 50-day moving average price of $40.50 and a 200-day moving average price of $40.15.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that QuidelOrtho will post 1.73 EPS for the current fiscal 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.