QuidelOrtho (NASDAQ:QDEL) Hits New 52-Week Low – Time to Sell?

QuidelOrtho Co. (NASDAQ:QDEL) shares hit a new 52-week low on Friday . The company traded as low as $28.48 and last traded at $28.43, with a volume of 391036 shares changing hands. The stock had previously closed at $32.49.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada lowered their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Finally, 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 on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.20.

QuidelOrtho Trading Down 13.4 %

The company has a 50-day moving average price of $39.06 and a 200 day moving average price of $40.98. The stock has a market capitalization of $1.90 billion, a P/E ratio of -0.93 and a beta of 0.43. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

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

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors have recently bought and sold shares of QDEL. Quarry LP purchased a new stake in shares of QuidelOrtho during the 4th quarter valued at $43,000. True Wealth Design LLC raised its stake in QuidelOrtho by 300.7% in the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after buying an additional 806 shares during the last quarter. Blue Trust Inc. boosted its holdings in QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after acquiring an additional 844 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of QuidelOrtho during the fourth quarter worth about $74,000. Finally, KBC Group NV increased its holdings in shares of QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after acquiring an additional 1,895 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

About QuidelOrtho

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.