QuidelOrtho Co. (NASDAQ:QDEL) Given Consensus Rating of “Hold” by Brokerages

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One 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 target price among analysts that have updated their coverage on the stock in the last year is $44.33.

Several brokerages recently commented on QDEL. UBS Group cut their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday. Jefferies Financial Group upgraded QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research report on Monday, April 21st. Royal Bank of Canada dropped their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th.

QuidelOrtho Trading Down 0.4%

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

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 negative net margin of 72.84% and a positive return on equity of 3.78%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. As a group, equities research analysts expect that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in shares of QuidelOrtho by 64.5% in the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock valued at $12,405,000 after purchasing an additional 106,642 shares during the period. Moody National Bank Trust Division increased its stake in QuidelOrtho by 126.5% in the 4th quarter. Moody National Bank Trust Division now owns 37,868 shares of the company’s stock valued at $1,687,000 after buying an additional 21,147 shares during the period. Pallas Capital Advisors LLC purchased a new position in QuidelOrtho during the 4th quarter worth $433,000. Oak Thistle LLC purchased a new position in QuidelOrtho during the 4th quarter worth $301,000. Finally, Merit Financial Group LLC acquired a new stake in shares of QuidelOrtho in the 4th quarter worth $301,000. 99.00% of the stock is owned by hedge funds and other institutional investors.

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.