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

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.43.

A number of equities analysts have issued reports on QDEL shares. UBS Group began coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $57.00 in a report on Thursday, September 5th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price for the company. Finally, Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th.

QuidelOrtho Trading Down 0.6 %

Shares of QDEL stock opened at $44.00 on Tuesday. The firm has a fifty day moving average of $40.61 and a 200-day moving average of $40.16. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -1.58 and a beta of 0.11. QuidelOrtho has a 52-week low of $29.74 and a 52-week high of $75.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38.

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

Insiders Place Their Bets

In other news, CEO Brian J. Blaser bought 6,033 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of QuidelOrtho stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

Several hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of QuidelOrtho during the third quarter valued at about $25,000. Quest Partners LLC increased its stake in shares of QuidelOrtho by 17,095.0% in the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after purchasing an additional 3,419 shares in the last quarter. GAMMA Investing LLC grew its stake in QuidelOrtho by 73.6% during the third quarter. GAMMA Investing LLC now owns 3,086 shares of the company’s stock valued at $141,000 after acquiring an additional 1,308 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of QuidelOrtho by 148.4% in the 2nd quarter. Federated Hermes Inc. now owns 6,018 shares of the company’s stock worth $200,000 after buying an additional 3,595 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in QuidelOrtho by 4,460.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock valued at $208,000 after buying an additional 4,460 shares in 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.