QuidelOrtho Co. (NASDAQ:QDEL) Receives $59.00 Average Price Target from Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $59.00.

QDEL has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Craig Hallum reiterated a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Raymond James reiterated an “outperform” rating and issued a $76.00 target price (down from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut QuidelOrtho from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $66.00 to $37.00 in a report on Wednesday, February 14th. Finally, UBS Group reiterated a “sell” rating and issued a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th.

Insider Activity at QuidelOrtho

In related news, CFO Joseph M. Busky purchased 2,150 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $46.35 per share, with a total value of $99,652.50. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuidelOrtho

Several large investors have recently made changes to their positions in the business. EMC Capital Management purchased a new stake in shares of QuidelOrtho during the 1st quarter valued at $117,000. Tidal Investments LLC purchased a new stake in shares of QuidelOrtho during the 1st quarter valued at $582,000. Silvercrest Asset Management Group LLC increased its position in shares of QuidelOrtho by 15.9% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 216,349 shares of the company’s stock valued at $10,372,000 after purchasing an additional 29,721 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of QuidelOrtho by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,854 shares of the company’s stock valued at $1,911,000 after purchasing an additional 1,648 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of QuidelOrtho by 7.1% during the 1st quarter. Gabelli Funds LLC now owns 144,130 shares of the company’s stock valued at $6,910,000 after purchasing an additional 9,500 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $42.60 on Monday. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -1.61 and a beta of 0.17. QuidelOrtho has a 52-week low of $37.78 and a 52-week high of $89.79. The stock’s 50 day moving average price is $43.49 and its two-hundred day moving average price is $56.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.55.

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.