QuidelOrtho (NASDAQ:QDEL) Price Target Raised to $31.00

QuidelOrtho (NASDAQ:QDEL) had its price objective boosted by UBS Group from $26.00 to $31.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts also recently weighed in on the company. Zacks Research downgraded QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Finally, Wall Street Zen lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $38.20.

QuidelOrtho Stock Down 4.3%

Shares of NASDAQ QDEL opened at $20.35 on Thursday. The company’s 50 day moving average price is $28.14 and its 200-day moving average price is $28.40. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. QuidelOrtho has a 52-week low of $20.10 and a 52-week high of $49.45. The company has a market capitalization of $1.38 billion, a P/E ratio of -3.11 and a beta of 0.35.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.29. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The company had revenue of $699.90 million during the quarter, compared to analysts’ expectations of $667.45 million. During the same period in the prior year, the company posted $0.85 earnings per share. QuidelOrtho’s revenue for the quarter was down 3.7% compared to the same quarter last year. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. Equities analysts forecast that QuidelOrtho will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of QuidelOrtho by 24.8% during the third quarter. PNC Financial Services Group Inc. now owns 9,951 shares of the company’s stock valued at $293,000 after acquiring an additional 1,979 shares in the last quarter. Public Sector Pension Investment Board grew its position in QuidelOrtho by 17.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 264,853 shares of the company’s stock valued at $7,800,000 after purchasing an additional 38,935 shares during the period. Illinois Municipal Retirement Fund increased its stake in QuidelOrtho by 2.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 36,024 shares of the company’s stock valued at $1,061,000 after purchasing an additional 851 shares in the last quarter. Skylands Capital LLC raised its holdings in QuidelOrtho by 26.6% during the third quarter. Skylands Capital LLC now owns 104,825 shares of the company’s stock worth $3,087,000 after buying an additional 22,025 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of QuidelOrtho by 1.1% in the third quarter. Rhumbline Advisers now owns 175,194 shares of the company’s stock valued at $5,159,000 after buying an additional 1,927 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

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.