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 analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $58.83.

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

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $37.60 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a fifty day moving average of $40.50 and a 200 day moving average of $40.15. The firm has a market cap of $2.53 billion, a PE ratio of -1.35 and a beta of 0.11. QuidelOrtho has a one year low of $29.74 and a one year high of $75.86.

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

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

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock valued at $41,996,000 after acquiring an additional 16,059 shares in the last quarter. M&T Bank Corp boosted its position in shares of QuidelOrtho by 33.4% in the third quarter. M&T Bank Corp now owns 38,356 shares of the company’s stock worth $1,749,000 after buying an additional 9,607 shares during the period. State Street Corp grew its stake in shares of QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after buying an additional 275,522 shares in the last quarter. Systematic Financial Management LP raised its holdings in shares of QuidelOrtho by 6.9% during the 3rd quarter. Systematic Financial Management LP now owns 151,034 shares of the company’s stock valued at $6,887,000 after buying an additional 9,793 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in QuidelOrtho during the 3rd quarter worth approximately $34,320,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.