QuidelOrtho Corporation (NASDAQ:QDEL) Stock Has Consensus Target Price of $13.62 According to Brokerages

QuidelOrtho Corporation (NASDAQ:QDEL) has been assigned a consensus rating of “Reduce” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.62.

A number of brokerages have recently issued reports on QDEL. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday, October 15th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $10.70 on Friday. The business’s fifty day moving average is $12.59 and its two-hundred day moving average is $15.96. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.75 and a current ratio of 1.36. The firm has a market cap of $734.13 million, a P/E ratio of -1.98 and a beta of 0.77. QuidelOrtho has a 52 week low of $9.92 and a 52 week high of $35.58.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Tuesday, November 3rd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. The company had revenue of $618.90 million during the quarter, compared to analyst estimates of $627.83 million. QuidelOrtho had a positive return on equity of 3.22% and a negative net margin of 14.24%. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts forecast that QuidelOrtho will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC acquired a new stake in shares of QuidelOrtho in the 2nd quarter valued at $18,628,000. Tejara Capital Ltd bought a new stake in shares of QuidelOrtho during the second quarter worth $2,275,000. Paradigm Capital Management Inc. NY bought a new stake in shares of QuidelOrtho during the second quarter worth $44,168,000. Edgestream Partners L.P. acquired a new position in shares of QuidelOrtho during the first quarter valued at $1,937,000. Finally, Bank of New York Mellon Corp bought a new position in QuidelOrtho in the second quarter valued at about $7,720,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho Corporation (NASDAQ:QDEL) is a global in vitro diagnostics company formed through the combination of Quidel Corporation and Ortho Clinical Diagnostics, a transaction completed in 2022. The company develops, manufactures and markets diagnostic technologies used to detect disease, guide treatment decisions and support blood-transfusion safety.

Its portfolio includes rapid immunoassays, molecular testing systems, clinical chemistry and immunohematology products, as well as laboratory automation solutions.