Ortho Clinical Diagnostics (NASDAQ:OCDX) Reaches New 1-Year High at $22.19

Ortho Clinical Diagnostics Holdings plc (NASDAQ:OCDX) shares reached a new 52-week high during trading on Friday . The company traded as high as $22.19 and last traded at $21.97, with a volume of 4395 shares trading hands. The stock had previously closed at $21.58.

OCDX has been the topic of several research analyst reports. Bank of America initiated coverage on shares of Ortho Clinical Diagnostics in a report on Monday, February 22nd. They set a “buy” rating and a $23.00 target price on the stock. Credit Suisse Group increased their target price on Ortho Clinical Diagnostics from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, May 6th. Citigroup assumed coverage on Ortho Clinical Diagnostics in a report on Monday, February 22nd. They issued a “buy” rating and a $20.00 price target on the stock. HC Wainwright started coverage on Ortho Clinical Diagnostics in a research report on Monday, February 22nd. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Wolfe Research began coverage on shares of Ortho Clinical Diagnostics in a research note on Monday, February 22nd. They set a “market perform” rating for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $24.55.

The firm has a fifty day simple moving average of $19.95. The stock has a market capitalization of $4.85 billion and a P/E ratio of 74.41. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.11 and a current ratio of 1.63.

Ortho Clinical Diagnostics (NASDAQ:OCDX) last announced its earnings results on Wednesday, May 5th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The business had revenue of $506.80 million for the quarter, compared to the consensus estimate of $478.10 million. On average, research analysts forecast that Ortho Clinical Diagnostics Holdings plc will post 0.59 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can acquired a new position in Ortho Clinical Diagnostics in the first quarter valued at about $48,000. Parkside Financial Bank & Trust acquired a new position in shares of Ortho Clinical Diagnostics in the 1st quarter valued at approximately $56,000. Point72 Hong Kong Ltd acquired a new position in shares of Ortho Clinical Diagnostics in the 1st quarter valued at approximately $99,000. Royal Bank of Canada acquired a new stake in shares of Ortho Clinical Diagnostics during the 1st quarter worth approximately $143,000. Finally, Tudor Investment Corp Et Al acquired a new stake in shares of Ortho Clinical Diagnostics during the 1st quarter worth approximately $194,000.

About Ortho Clinical Diagnostics (NASDAQ:OCDX)

Ortho Clinical Diagnostics Holdings plc engages in the vitro diagnostics business worldwide. The company offers automated instruments; and assays, reagents, and other consumables that are used by these instruments to generate test results. Its solutions include clinical chemistry and immunoassay instruments and tests to detect and monitor disease progression across a spectrum of therapeutic areas, including COVID-19 antibody and antigen tests; and immunohematology instruments and tests for blood typing to ensure patient-donor compatibility in blood transfusions, as well as donor screening instruments and tests for blood and plasma screening for infectious diseases.

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