QuidelOrtho Co. (NASDAQ:QDEL) Receives Average Recommendation of “Hold” from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have been given an average recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $58.83.

A number of analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. Finally, UBS Group assumed coverage on QuidelOrtho in a research report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $36.18 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. QuidelOrtho has a 52 week low of $29.74 and a 52 week high of $75.86. The stock’s 50-day moving average price is $42.17 and its 200-day moving average price is $40.47. The stock has a market capitalization of $2.43 billion, a PE ratio of -1.30 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The company had revenue of $727.00 million for the quarter, compared to analyst estimates of $642.16 million. During the same period last year, the company earned $0.90 earnings per share. QuidelOrtho’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that QuidelOrtho will post 1.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its stake in QuidelOrtho by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 43,275 shares of the company’s stock worth $2,075,000 after buying an additional 560 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of QuidelOrtho in the first quarter valued at about $689,000. SG Americas Securities LLC increased its position in QuidelOrtho by 55.4% during the first quarter. SG Americas Securities LLC now owns 6,930 shares of the company’s stock worth $332,000 after purchasing an additional 2,470 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of QuidelOrtho during the 1st quarter worth approximately $1,178,000. Finally, Headlands Technologies LLC acquired a new stake in QuidelOrtho during the first quarter worth $86,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.