Brokerages Set QuidelOrtho Co. (NASDAQ:QDEL) PT at $51.20

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $51.20.

Several analysts recently commented on the company. Jefferies Financial Group assumed coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective on the stock. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada lowered their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th.

QuidelOrtho Stock Performance

QDEL stock opened at $34.89 on Friday. The business’s fifty day moving average is $41.42 and its 200-day moving average is $41.83. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.35 billion, a P/E ratio of -1.15 and a beta of 0.10. QuidelOrtho has a twelve month low of $29.74 and a twelve month high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. Equities research analysts forecast that QuidelOrtho will post 2.3 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC grew its holdings in shares of QuidelOrtho by 7.7% in the 4th quarter. Voya Investment Management LLC now owns 7,551 shares of the company’s stock valued at $336,000 after acquiring an additional 538 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of QuidelOrtho by 10.6% in the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock valued at $306,000 after acquiring an additional 661 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of QuidelOrtho by 300.7% in the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after acquiring an additional 806 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of QuidelOrtho by 14.2% in the 4th quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock valued at $292,000 after acquiring an additional 816 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after acquiring an additional 844 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

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.