Brokerages Set Ortho Clinical Diagnostics Holdings plc (NASDAQ:OCDX) Price Target at $25.36

Shares of Ortho Clinical Diagnostics Holdings plc (NASDAQ:OCDX) have earned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $25.36.

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on Ortho Clinical Diagnostics from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, July 13th. HC Wainwright lifted their price objective on Ortho Clinical Diagnostics from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. JPMorgan Chase & Co. lifted their price objective on Ortho Clinical Diagnostics from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Finally, Credit Suisse Group initiated coverage on Ortho Clinical Diagnostics in a report on Thursday, August 5th. They issued an “outperform” rating and a $23.00 price target on the stock.

In other news, EVP Michael A. Schlesinger sold 41,015 shares of the business’s stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $20.14, for a total transaction of $826,042.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Clifton Yates sold 140,042 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $21.79, for a total value of $3,051,515.18. Following the transaction, the director now directly owns 346,942 shares in the company, valued at approximately $7,559,866.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,721 shares of company stock worth $8,310,962.

A number of institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC bought a new position in Ortho Clinical Diagnostics in the 2nd quarter valued at $1,017,000. Morgan Stanley grew its position in Ortho Clinical Diagnostics by 4.4% in the 2nd quarter. Morgan Stanley now owns 263,734 shares of the company’s stock valued at $5,647,000 after acquiring an additional 11,216 shares during the last quarter. Wells Fargo & Company MN grew its position in Ortho Clinical Diagnostics by 9.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,481,482 shares of the company’s stock valued at $31,718,000 after acquiring an additional 130,714 shares during the last quarter. Invesco Ltd. grew its position in Ortho Clinical Diagnostics by 6.0% in the 2nd quarter. Invesco Ltd. now owns 873,893 shares of the company’s stock valued at $18,710,000 after acquiring an additional 49,226 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Ortho Clinical Diagnostics in the 2nd quarter valued at $17,942,000.

Shares of Ortho Clinical Diagnostics stock traded down $0.33 during trading hours on Friday, reaching $18.28. 20,537 shares of the stock traded hands, compared to its average volume of 1,098,536. The company has a 50 day moving average price of $20.50 and a 200 day moving average price of $20.01. The firm has a market capitalization of $4.07 billion and a price-to-earnings ratio of 64.17. Ortho Clinical Diagnostics has a one year low of $15.14 and a one year high of $22.99. The company has a quick ratio of 1.18, a current ratio of 1.81 and a debt-to-equity ratio of 5.94.

Ortho Clinical Diagnostics (NASDAQ:OCDX) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. The firm had revenue of $492.50 million for the quarter, compared to the consensus estimate of $473.39 million. The business’s quarterly revenue was up 26.1% on a year-over-year basis. Sell-side analysts anticipate that Ortho Clinical Diagnostics will post 0.62 earnings per share for the current year.

Ortho Clinical Diagnostics Company Profile

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.

Featured Story: What are the disadvantages of after-hours trading?

Analyst Recommendations for Ortho Clinical Diagnostics (NASDAQ:OCDX)

Receive News & Ratings for Ortho Clinical Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ortho Clinical Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.