QuidelOrtho Co. (NASDAQ:QDEL) Given Average Recommendation of “Hold” by Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have earned a consensus rating of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $58.83.

A number of brokerages have recently commented on QDEL. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.00 to $57.00 in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a report on Friday, August 16th. Finally, UBS Group began coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock.

Insider Activity at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 158,090 shares of QuidelOrtho stock in a transaction on Monday, July 29th. The shares were sold at an average price of $38.85, for a total value of $6,141,796.50. Following the transaction, the insider now directly owns 9,444,215 shares in the company, valued at $366,907,752.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 792,712 shares of company stock worth $31,676,120 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On QuidelOrtho

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in shares of QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after buying an additional 744 shares in the last quarter. GAMMA Investing LLC raised its stake in QuidelOrtho by 1,871.8% in the 1st quarter. GAMMA Investing LLC now owns 1,400 shares of the company’s stock valued at $67,000 after purchasing an additional 1,329 shares during the last quarter. Headlands Technologies LLC acquired a new position in QuidelOrtho in the 1st quarter valued at about $86,000. EMC Capital Management acquired a new position in QuidelOrtho in the 1st quarter valued at about $117,000. Finally, CWM LLC raised its stake in QuidelOrtho by 1,536.0% in the 1st quarter. CWM LLC now owns 2,814 shares of the company’s stock valued at $135,000 after purchasing an additional 2,642 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

QuidelOrtho Stock Down 1.9 %

QDEL stock opened at $38.89 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. QuidelOrtho has a twelve month low of $29.74 and a twelve month high of $75.86. The company’s 50 day moving average is $43.39 and its two-hundred day moving average is $40.61. The stock has a market cap of $2.60 billion, a P/E ratio of -1.47 and a beta of 0.09.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $613.51 million. During the same quarter last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts expect that QuidelOrtho will post 1.72 earnings per share for the current fiscal year.

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.