QuidelOrtho Corporation (NASDAQ:QDEL) Receives $44.33 Average PT from Analysts

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) have received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $44.33.

A number of research firms have commented on QDEL. Wall Street Zen raised shares of QuidelOrtho from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. JPMorgan Chase & Co. reduced their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Jefferies Financial Group upgraded QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Thursday, May 8th. Finally, UBS Group lowered their price target on QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th.

QuidelOrtho Stock Up 0.6%

Shares of QDEL stock opened at $28.87 on Tuesday. QuidelOrtho has a 1 year low of $23.77 and a 1 year high of $49.45. The stock has a market cap of $1.95 billion, a PE ratio of -5.81 and a beta of 0.10. The business’s fifty day moving average is $29.84 and its 200-day moving average is $35.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 1.20.

QuidelOrtho (NASDAQ:QDEL) last issued 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. QuidelOrtho had a positive return on equity of 4.71% and a negative net margin of 12.07%. The company had revenue of $692.80 million for the quarter, compared to analysts’ expectations of $694.97 million. During the same period last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts expect that QuidelOrtho will post 2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP boosted its position in QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after purchasing an additional 460 shares during the period. Voya Investment Management LLC boosted its position in QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company’s stock worth $336,000 after purchasing an additional 538 shares during the period. Corient Private Wealth LLC boosted its position in QuidelOrtho by 10.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock worth $306,000 after purchasing an additional 661 shares during the period. Yousif Capital Management LLC boosted its position in QuidelOrtho by 2.9% during the first quarter. Yousif Capital Management LLC now owns 25,950 shares of the company’s stock worth $907,000 after purchasing an additional 734 shares during the period. Finally, Rhumbline Advisers boosted its position in QuidelOrtho by 0.6% during the first quarter. Rhumbline Advisers now owns 129,025 shares of the company’s stock worth $4,512,000 after purchasing an additional 770 shares during the period. Institutional investors and hedge funds 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.