QuidelOrtho Co. (NASDAQ:QDEL) Receives $61.60 Average Price Target from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $61.60.

Several analysts have recently issued reports on the stock. Raymond James restated an “outperform” rating and set a $76.00 target price (down from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. JPMorgan Chase & Co. downgraded shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $66.00 to $37.00 in a research note on Wednesday, February 14th. Craig Hallum reissued a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. UBS Group reissued a “sell” rating and set a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Finally, Royal Bank of Canada reduced their target price on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th.

Insider Buying and Selling at QuidelOrtho

In other news, CFO Joseph M. Busky bought 2,150 shares of QuidelOrtho stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the acquisition, the chief financial officer now owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

Several hedge funds and other institutional investors have recently made changes to their positions in QDEL. Pinnacle Associates Ltd. grew its position in QuidelOrtho by 167.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 85,375 shares of the company’s stock worth $6,292,000 after purchasing an additional 53,446 shares during the last quarter. Wellington Management Group LLP increased its position in shares of QuidelOrtho by 11.2% in the 3rd quarter. Wellington Management Group LLP now owns 760,632 shares of the company’s stock valued at $55,557,000 after acquiring an additional 76,866 shares during the period. Comerica Bank purchased a new position in QuidelOrtho in the 3rd quarter worth $5,156,000. Citigroup Inc. lifted its position in QuidelOrtho by 25.0% during the 3rd quarter. Citigroup Inc. now owns 5,808 shares of the company’s stock worth $424,000 after acquiring an additional 1,161 shares during the period. Finally, Private Management Group Inc. increased its holdings in shares of QuidelOrtho by 117.7% in the fourth quarter. Private Management Group Inc. now owns 197,344 shares of the company’s stock valued at $14,544,000 after purchasing an additional 106,709 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Trading Down 0.1 %

Shares of QuidelOrtho stock opened at $39.64 on Thursday. The business has a 50-day moving average price of $44.54 and a 200-day moving average price of $59.59. QuidelOrtho has a twelve month low of $37.78 and a twelve month high of $95.02. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -247.75 and a beta of 0.11. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The firm had revenue of $742.60 million for the quarter, compared to the consensus estimate of $796.91 million. During the same quarter in the prior year, the company posted $1.74 earnings per share. The firm’s revenue was down 14.3% compared to the same quarter last year. Equities research analysts anticipate that QuidelOrtho will post 2.28 EPS for the current fiscal 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.