QuidelOrtho Co. (NASDAQ:QDEL) Receives $53.43 Consensus PT from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have earned an average rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $53.43.

Several analysts recently commented on QDEL shares. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target for the company. UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target on the stock. Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. Finally, William Blair reissued a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th.

Insider Buying and Selling

In other news, CEO Brian J. Blaser bought 6,033 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now owns 6,033 shares of the company’s stock, valued at $249,886.86. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’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 disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of QuidelOrtho in the third quarter worth about $25,000. Quest Partners LLC boosted its stake in shares of QuidelOrtho by 17,095.0% in the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock valued at $114,000 after purchasing an additional 3,419 shares during the period. GAMMA Investing LLC grew its holdings in QuidelOrtho by 73.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,086 shares of the company’s stock valued at $141,000 after purchasing an additional 1,308 shares in the last quarter. Federated Hermes Inc. increased its stake in QuidelOrtho by 148.4% during the 2nd quarter. Federated Hermes Inc. now owns 6,018 shares of the company’s stock worth $200,000 after buying an additional 3,595 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in QuidelOrtho by 4,460.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock worth $208,000 after buying an additional 4,460 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $45.04 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. The business has a 50 day simple moving average of $40.95 and a 200-day simple moving average of $40.28. QuidelOrtho has a 12 month low of $29.74 and a 12 month high of $75.09. The stock has a market capitalization of $3.03 billion, a PE ratio of -1.61 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $642.16 million. During the same period in the prior year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts predict that QuidelOrtho will post 1.73 earnings per share for the current 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.