Ortho Clinical Diagnostics (NASDAQ:OCDX) Lowered to “Hold” at Zacks Investment Research

Ortho Clinical Diagnostics (NASDAQ:OCDXGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Ortho Clinical Diagnostics deals with in vitro and in vivo diagnostic substances. “

Several other research firms also recently commented on OCDX. Barclays dropped their price objective on shares of Ortho Clinical Diagnostics from $25.00 to $20.00 in a report on Thursday, February 17th. HC Wainwright downgraded shares of Ortho Clinical Diagnostics from a “buy” rating to a “neutral” rating and set a $24.68 price target on the stock. in a report on Monday, December 27th. Evercore ISI raised shares of Ortho Clinical Diagnostics from an “in-line” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Thursday, February 17th. Finally, Morgan Stanley downgraded shares of Ortho Clinical Diagnostics from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $23.46.

NASDAQ OCDX opened at $18.81 on Wednesday. The stock has a market capitalization of $4.19 billion, a P/E ratio of -72.35, a PEG ratio of 1.67 and a beta of 1.69. Ortho Clinical Diagnostics has a 52 week low of $16.04 and a 52 week high of $22.99. The company has a debt-to-equity ratio of 5.33, a quick ratio of 1.22 and a current ratio of 1.75. The firm’s 50-day simple moving average is $17.98.

Ortho Clinical Diagnostics (NASDAQ:OCDXGet Rating) last released its quarterly earnings data on Wednesday, February 16th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The business had revenue of $521.00 million for the quarter, compared to the consensus estimate of $525.26 million. Ortho Clinical Diagnostics had a negative net margin of 2.66% and a positive return on equity of 42.86%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, equities research analysts expect that Ortho Clinical Diagnostics will post 0.87 EPS for the current fiscal year.

In related news, EVP Michael A. Schlesinger sold 88,043 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $18.77, for a total value of $1,652,567.11. Following the transaction, the executive vice president now directly owns 87,637 shares in the company, valued at $1,644,946.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Several hedge funds have recently bought and sold shares of OCDX. Versor Investments LP increased its position in shares of Ortho Clinical Diagnostics by 24,224.7% in the fourth quarter. Versor Investments LP now owns 4,413,952 shares of the company’s stock worth $94,414,000 after purchasing an additional 4,395,806 shares during the last quarter. Janus Henderson Group PLC grew its position in Ortho Clinical Diagnostics by 29.4% during the third quarter. Janus Henderson Group PLC now owns 8,238,086 shares of the company’s stock valued at $152,238,000 after acquiring an additional 1,873,161 shares during the last quarter. Balyasny Asset Management LLC grew its position in Ortho Clinical Diagnostics by 404.7% during the third quarter. Balyasny Asset Management LLC now owns 2,280,920 shares of the company’s stock valued at $42,151,000 after acquiring an additional 1,828,955 shares during the last quarter. BlackRock Inc. grew its position in Ortho Clinical Diagnostics by 23.2% during the fourth quarter. BlackRock Inc. now owns 8,732,078 shares of the company’s stock valued at $186,778,000 after acquiring an additional 1,645,339 shares during the last quarter. Finally, Eaton Vance Management grew its position in Ortho Clinical Diagnostics by 371.5% during the third quarter. Eaton Vance Management now owns 1,834,296 shares of the company’s stock valued at $33,899,000 after acquiring an additional 1,445,300 shares during the last quarter.

Ortho Clinical Diagnostics Company Profile (Get Rating)

Ortho Clinical Diagnostics Holdings plc provides in-vitro diagnostics solutions to the clinical laboratory and transfusion medicine communities worldwide. The company offers automated instruments; and assays, reagents, and other consumables that are used by these instruments to generate test results.

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