QuidelOrtho Co. (NASDAQ:QDEL) Given Consensus Rating of “Hold” by Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have earned a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $58.83.

A number of research analysts have issued reports on QDEL shares. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, UBS Group assumed coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target on the stock.

QuidelOrtho Stock Down 0.5 %

Shares of NASDAQ QDEL opened at $39.98 on Thursday. The firm’s 50-day simple moving average is $43.62 and its 200 day simple moving average is $40.74. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -1.51 and a beta of 0.09. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. QuidelOrtho has a 12-month low of $29.74 and a 12-month high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $613.51 million. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. On average, research analysts expect that QuidelOrtho will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Carlyle Group Inc. sold 78,180 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $39.94, for a total transaction of $3,122,509.20. Following the completion of the sale, the insider now directly owns 8,441,022 shares of the company’s stock, valued at approximately $337,134,418.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 1,208,321 shares of company stock valued at $47,059,086. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuidelOrtho

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of QuidelOrtho by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after buying an additional 37,733 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of QuidelOrtho by 51.9% in the 2nd quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock valued at $121,106,000 after buying an additional 1,245,590 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of QuidelOrtho by 27.5% in the 2nd quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock valued at $57,434,000 after buying an additional 372,662 shares during the last quarter. Private Management Group Inc. boosted its holdings in shares of QuidelOrtho by 33.4% in the 2nd quarter. Private Management Group Inc. now owns 610,621 shares of the company’s stock valued at $20,285,000 after buying an additional 152,769 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of QuidelOrtho by 9.8% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 593,157 shares of the company’s stock valued at $19,705,000 after buying an additional 52,729 shares during the last quarter. 99.00% of the stock is owned by institutional investors.

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.