QuidelOrtho Co. (NASDAQ:QDEL) Receives $58.83 Consensus Price Target from Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has received an average recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One 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 12-month price objective among brokerages that have issued ratings on the stock in the last year is $58.83.

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

QuidelOrtho Price Performance

QDEL stock opened at $38.20 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $40.35 and its two-hundred day moving average price is $40.09. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -1.37 and a beta of 0.11. QuidelOrtho has a 12-month low of $29.74 and a 12-month high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. The business had revenue of $727.00 million during 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%. QuidelOrtho’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, equities analysts predict that QuidelOrtho will post 1.73 earnings per share for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuidelOrtho

Several institutional investors and hedge funds have recently modified their holdings of QDEL. Capital Performance Advisors LLP purchased a new position in QuidelOrtho in the 3rd quarter worth approximately $25,000. Fifth Third Bancorp boosted its stake in QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after purchasing an additional 744 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of QuidelOrtho by 27.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after purchasing an additional 378 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of QuidelOrtho in the second quarter worth $102,000. Finally, Quest Partners LLC lifted its holdings in shares of QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock valued at $114,000 after purchasing an additional 3,419 shares in the last quarter. 99.00% of the stock is currently 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.