QuidelOrtho Co. (NASDAQ:QDEL) Given Average Rating of “Moderate Buy” by Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $51.20.

Several equities analysts have recently issued reports on QDEL shares. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Jefferies Financial Group started coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target for the company. UBS Group raised their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada dropped their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th.

QuidelOrtho Trading Down 1.4 %

NASDAQ QDEL opened at $40.46 on Wednesday. The stock’s 50-day simple moving average is $43.45 and its two-hundred day simple moving average is $42.40. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -1.34 and a beta of 0.08. QuidelOrtho has a twelve month low of $29.74 and a twelve month high of $49.45. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. Research analysts forecast that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian J. Blaser acquired 6,033 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the purchase, the chief executive officer now directly owns 6,033 shares of the company’s stock, valued at $249,886.86. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QDEL. Capital Performance Advisors LLP purchased a new stake in shares of QuidelOrtho during the third quarter worth about $25,000. Quarry LP acquired a new position in QuidelOrtho during the 4th quarter valued at approximately $43,000. True Wealth Design LLC lifted its stake in shares of QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $48,000 after buying an additional 806 shares during the period. Blue Trust Inc. lifted its position in QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after acquiring an additional 844 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of QuidelOrtho during the fourth quarter worth about $74,000. 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.