QuidelOrtho Co. (NASDAQ:QDEL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $51.20.

Several analysts have commented on QDEL shares. William Blair restated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Jefferies Financial Group started 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. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. UBS Group lifted their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada cut their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th.

QuidelOrtho Stock Up 1.5 %

Shares of NASDAQ:QDEL opened at $36.12 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The stock’s 50-day moving average price is $41.89 and its 200-day moving average price is $41.95. The stock has a market capitalization of $2.44 billion, a P/E ratio of -1.19 and a beta of 0.10. QuidelOrtho has a 12-month low of $29.74 and a 12-month high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. On average, equities analysts anticipate that QuidelOrtho will post 2.3 earnings per share for the current year.

Hedge Funds Weigh In On QuidelOrtho

Several institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in QuidelOrtho during the 4th quarter valued at approximately $969,000. Public Employees Retirement System of Ohio grew its holdings in QuidelOrtho by 10.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 23,156 shares of the company’s stock valued at $1,032,000 after buying an additional 2,129 shares in the last quarter. Neo Ivy Capital Management purchased a new position in QuidelOrtho during the 4th quarter valued at approximately $1,824,000. Paradigm Capital Management Inc. NY purchased a new position in QuidelOrtho during the 4th quarter valued at approximately $3,118,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in QuidelOrtho by 31.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 206,430 shares of the company’s stock valued at $9,196,000 after buying an additional 48,846 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

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.