QuidelOrtho Co. (NASDAQ:QDEL) Given Average Rating of “Hold” by Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $61.60.

Several research analysts recently weighed in on QDEL shares. Royal Bank of Canada cut their price target on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. UBS Group restated a “sell” rating and set a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Raymond James restated an “outperform” rating and set a $76.00 price target (down from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th.

QuidelOrtho Trading Up 1.0 %

QDEL opened at $40.82 on Thursday. QuidelOrtho has a 1-year low of $37.78 and a 1-year high of $95.02. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.73 billion, a P/E ratio of -255.13 and a beta of 0.11. The company has a fifty day moving average price of $44.67 and a two-hundred day moving average price of $60.03.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.84). The company had revenue of $742.60 million during the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. Analysts predict that QuidelOrtho will post 2.28 EPS for the current fiscal year.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky purchased 2,150 shares of the stock in a transaction dated Friday, February 23rd. The shares were bought at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the transaction, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

Several hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC increased its holdings in QuidelOrtho by 109.0% during the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after acquiring an additional 181 shares during the period. GAMMA Investing LLC increased its holdings in shares of QuidelOrtho by 1,871.8% in the 1st quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,329 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of QuidelOrtho in the 3rd quarter worth $106,000. Cetera Trust Company N.A bought a new position in shares of QuidelOrtho in the 4th quarter worth $108,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of QuidelOrtho in the 3rd quarter worth $123,000. 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.