QuidelOrtho Co. (NASDAQ:QDEL) Short Interest Down 23.0% in February

QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 2,180,000 shares, a decline of 23.0% from the January 31st total of 2,830,000 shares. Based on an average daily trading volume, of 627,100 shares, the days-to-cover ratio is presently 3.5 days.

QuidelOrtho Stock Performance

Shares of QDEL stock opened at $88.33 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.56 and a quick ratio of 1.04. The stock has a market cap of $5.87 billion, a PE ratio of 7.12 and a beta of 0.25. The stock has a 50-day moving average of $87.07 and a 200-day moving average of $84.49. QuidelOrtho has a one year low of $66.88 and a one year high of $120.61.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on QDEL shares. Craig Hallum cut their price target on QuidelOrtho to $173.00 in a report on Wednesday, December 14th. Raymond James dropped their price objective on QuidelOrtho from $136.00 to $130.00 and set a “strong-buy” rating for the company in a report on Thursday, February 16th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $125.00 in a report on Monday, December 12th. Finally, Royal Bank of Canada boosted their price objective on QuidelOrtho from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.83.

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in shares of QuidelOrtho by 252.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 377 shares of the company’s stock valued at $27,000 after acquiring an additional 270 shares during the last quarter. Huntington National Bank bought a new stake in shares of QuidelOrtho in the 3rd quarter valued at about $28,000. Money Concepts Capital Corp increased its stake in shares of QuidelOrtho by 66.8% in the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of QuidelOrtho by 59.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 426 shares of the company’s stock valued at $30,000 after acquiring an additional 158 shares during the last quarter. Finally, Eagle Bay Advisors LLC increased its stake in shares of QuidelOrtho by 174.2% in the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after acquiring an additional 223 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

About QuidelOrtho

(Get Rating)

QuidelOrtho Corp. operates as a vitro diagnostics company. It is focused on developing and manufacturing diagnostic products. The company was founded on May 27, 2022 and is headquartered in San Diego, CA.