QuidelOrtho Co. (NASDAQ:QDEL) Given Consensus Rating of “Hold” by Analysts

QuidelOrtho Co. (NASDAQ:QDEL) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $58.83.

QDEL has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research report on Friday, August 16th. Craig Hallum upgraded 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 report on Thursday, September 5th. Finally, UBS Group assumed coverage on QuidelOrtho in a report on Thursday. They set a “neutral” rating and a $50.00 price objective for the company.

Insiders Place Their Bets

In related news, major shareholder Carlyle Group Inc. sold 81,482 shares of QuidelOrtho stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $33.19, for a total value of $2,704,387.58. Following the completion of the sale, the insider now directly owns 11,617,068 shares in the company, valued at $385,570,486.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,902,466 shares of company stock worth $69,552,560 in the last ninety days. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuidelOrtho

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in QuidelOrtho by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after purchasing an additional 37,733 shares during the last quarter. Rubric Capital Management LP grew its position in shares of QuidelOrtho by 51.9% in the 2nd quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock worth $121,106,000 after buying an additional 1,245,590 shares during the last quarter. Maverick Capital Ltd. raised its stake in shares of QuidelOrtho by 27.5% during the 2nd quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock worth $57,434,000 after acquiring an additional 372,662 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in QuidelOrtho by 144.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after acquiring an additional 536,492 shares during the last quarter. Finally, Private Management Group Inc. boosted its stake in QuidelOrtho by 33.4% in the second quarter. Private Management Group Inc. now owns 610,621 shares of the company’s stock valued at $20,285,000 after acquiring an additional 152,769 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock opened at $45.40 on Friday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -1.72 and a beta of 0.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.79 and a current ratio of 1.44. The stock has a 50 day moving average price of $41.66 and a 200-day moving average price of $41.24. QuidelOrtho has a one year low of $29.74 and a one year high of $75.86.

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