QuidelOrtho (NASDAQ:QDEL) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of QuidelOrtho (NASDAQ:QDEL) in a report released on Tuesday, MarketBeat.com reports. The firm issued a hold rating and a $43.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on QDEL. UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price for the company. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th. Finally, Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.57.

QuidelOrtho Stock Down 5.0 %

NASDAQ:QDEL opened at $38.50 on Tuesday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -1.38 and a beta of 0.11. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $40.14 and a two-hundred day moving average price of $40.05. QuidelOrtho has a 1 year low of $29.74 and a 1 year high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last issued 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. The business had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. QuidelOrtho’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. As a group, equities analysts expect that QuidelOrtho will post 1.73 earnings per share for the current year.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock worth $41,996,000 after acquiring an additional 16,059 shares during the last quarter. M&T Bank Corp boosted its position in QuidelOrtho by 33.4% during the third quarter. M&T Bank Corp now owns 38,356 shares of the company’s stock worth $1,749,000 after purchasing an additional 9,607 shares during the period. State Street Corp increased its holdings in shares of QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after purchasing an additional 275,522 shares during the last quarter. Systematic Financial Management LP lifted its stake in shares of QuidelOrtho by 6.9% during the 3rd quarter. Systematic Financial Management LP now owns 151,034 shares of the company’s stock worth $6,887,000 after buying an additional 9,793 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of QuidelOrtho during the 3rd quarter worth about $34,320,000. 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.