QuidelOrtho (NASDAQ:QDEL) Given New $29.00 Price Target at UBS Group

QuidelOrtho (NASDAQ:QDEL) had its price target trimmed by UBS Group from $45.00 to $29.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on QDEL. Jefferies Financial Group upgraded QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price target on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Royal Bank of Canada cut their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.33.

QuidelOrtho Stock Down 0.4 %

NASDAQ QDEL opened at $36.30 on Thursday. QuidelOrtho has a 12 month low of $23.77 and a 12 month high of $49.45. The company has a market capitalization of $2.45 billion, a P/E ratio of -1.20 and a beta of 0.13. The company’s 50 day simple moving average is $31.41 and its 200 day simple moving average is $38.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.13. The company had revenue of $692.80 million for the quarter, compared to analysts’ expectations of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts expect that QuidelOrtho will post 2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of QuidelOrtho in the fourth quarter worth $43,000. True Wealth Design LLC increased its position in QuidelOrtho by 300.7% in the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $48,000 after purchasing an additional 806 shares during the last quarter. Blue Trust Inc. raised its stake in shares of 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 purchasing an additional 844 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of QuidelOrtho during the 4th quarter valued at about $74,000. Finally, KBC Group NV grew its stake in shares of QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after buying an additional 1,895 shares in the last quarter. Hedge funds and other 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.