Analysts Set QuidelOrtho Co. (NASDAQ:QDEL) Target Price at $58.83

QuidelOrtho Co. (NASDAQ:QDEL) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $58.83.

A number of equities analysts recently issued reports on the company. UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their price objective for the company from $40.00 to $57.00 in a research note on Thursday, September 5th.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 135,241 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.31, for a total transaction of $4,775,359.71. Following the transaction, the insider now directly owns 10,427,317 shares in the company, valued at $368,188,563.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,142,685 shares of company stock worth $44,819,586 in the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QDEL. Vanguard Group Inc. lifted its holdings in shares of QuidelOrtho by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock worth $233,906,000 after buying an additional 37,733 shares during the last quarter. Rubric Capital Management LP raised its stake in QuidelOrtho by 51.9% during the 2nd quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock valued at $121,106,000 after purchasing an additional 1,245,590 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in QuidelOrtho by 27.5% in the 2nd quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock valued at $57,434,000 after purchasing an additional 372,662 shares during the period. Private Management Group Inc. grew its position in QuidelOrtho by 33.4% in the 2nd quarter. Private Management Group Inc. now owns 610,621 shares of the company’s stock worth $20,285,000 after purchasing an additional 152,769 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in QuidelOrtho by 9.8% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 593,157 shares of the company’s stock worth $19,705,000 after purchasing an additional 52,729 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

QDEL stock opened at $40.83 on Thursday. The company has a 50-day simple moving average of $43.58 and a 200 day simple moving average of $40.68. The company has a market capitalization of $2.73 billion, a P/E ratio of -1.55 and a beta of 0.09. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. QuidelOrtho has a fifty-two week low of $29.74 and a fifty-two week high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.15. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $613.51 million. QuidelOrtho had a positive return on equity of 3.87% and a negative net margin of 65.60%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. Sell-side analysts predict that QuidelOrtho will post 1.77 earnings per share for the current fiscal year.

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.