QuidelOrtho Co. (NASDAQ:QDEL) Receives $102.00 Average Target Price from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDELGet Rating) have received a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $102.00.

Several equities research analysts recently commented on QDEL shares. JPMorgan Chase & Co. started coverage on QuidelOrtho in a report on Friday, June 17th. They issued a “neutral” rating for the company. UBS Group started coverage on QuidelOrtho in a report on Wednesday, July 20th. They issued a “sell” rating and a $86.00 price target on the stock. Citigroup initiated coverage on QuidelOrtho in a report on Monday. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a report on Monday, August 15th.

QuidelOrtho Stock Down 4.4 %

Shares of QuidelOrtho stock opened at $75.50 on Monday. The company’s 50 day moving average price is $89.47 and its 200-day moving average price is $98.54. QuidelOrtho has a 52-week low of $75.45 and a 52-week high of $180.06. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 3.20 and a beta of 0.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.12 and a current ratio of 1.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL lifted its holdings in shares of QuidelOrtho by 0.7% in the 1st quarter. Virginia Retirement Systems ET AL now owns 15,100 shares of the company’s stock valued at $1,698,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in QuidelOrtho by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the company’s stock valued at $1,149,000 after buying an additional 100 shares during the last quarter. New Century Advisors LLC grew its holdings in QuidelOrtho by 52.6% during the 2nd quarter. New Century Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after buying an additional 121 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of QuidelOrtho by 2.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,809 shares of the company’s stock worth $653,000 after purchasing an additional 128 shares during the period. Finally, Islay Capital Management LLC raised its position in shares of QuidelOrtho by 14.5% in the 2nd quarter. Islay Capital Management LLC now owns 1,035 shares of the company’s stock worth $101,000 after buying an additional 131 shares during the period. 87.20% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Company Profile

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QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies across the continuum of healthcare testing needs. 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.

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