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

QuidelOrtho Co. (NASDAQ:QDEL) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research 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 price objective among brokerages that have issued a report on the stock in the last year is $58.83.

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

QuidelOrtho Stock Down 7.1 %

QuidelOrtho stock opened at $36.18 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a 50 day moving average price of $42.17 and a 200 day moving average price of $40.47. QuidelOrtho has a fifty-two week low of $29.74 and a fifty-two week high of $75.86. The company has a market capitalization of $2.43 billion, a PE ratio of -1.30 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The firm had revenue of $727.00 million for the quarter, compared to the consensus estimate of $642.16 million. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts expect that QuidelOrtho will post 1.72 earnings per share for the current year.

Hedge Funds Weigh In On QuidelOrtho

A number of large investors have recently made changes to their positions in the stock. M&T Bank Corp grew its position in shares of QuidelOrtho by 33.4% in the third quarter. M&T Bank Corp now owns 38,356 shares of the company’s stock valued at $1,749,000 after purchasing an additional 9,607 shares during the last quarter. State Street Corp increased its holdings in shares of QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after buying an additional 275,522 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of QuidelOrtho by 6.9% in the 3rd quarter. Systematic Financial Management LP now owns 151,034 shares of the company’s stock worth $6,887,000 after purchasing an additional 9,793 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of QuidelOrtho in the third quarter worth $34,320,000. Finally, Parkman Healthcare Partners LLC purchased a new position in QuidelOrtho in the third quarter valued at about $3,420,000. Hedge funds and other 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.