Analysts Set QuidelOrtho Co. (NASDAQ:QDEL) Target Price at $126.60

QuidelOrtho Co. (NASDAQ:QDEL) has been given an average rating of “Buy” by the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $124.60.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of QuidelOrtho from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. Raymond James lowered their target price on shares of QuidelOrtho from $110.00 to $100.00 and set a “strong-buy” rating for the company in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of QuidelOrtho in a report on Tuesday, September 19th. StockNews.com assumed coverage on shares of QuidelOrtho in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, William Blair reiterated an “outperform” rating on shares of QuidelOrtho in a report on Thursday.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors and hedge funds have recently made changes to their positions in the company. LSV Asset Management increased its position in shares of QuidelOrtho by 217.4% during the third quarter. LSV Asset Management now owns 737,395 shares of the company’s stock valued at $53,859,000 after acquiring an additional 505,050 shares in the last quarter. EFG Asset Management North America Corp. grew its position in QuidelOrtho by 10.3% in the 3rd quarter. EFG Asset Management North America Corp. now owns 26,060 shares of the company’s stock worth $1,903,000 after purchasing an additional 2,433 shares during the period. California Public Employees Retirement System grew its position in QuidelOrtho by 1.4% in the 3rd quarter. California Public Employees Retirement System now owns 94,696 shares of the company’s stock worth $6,917,000 after purchasing an additional 1,343 shares during the period. M&T Bank Corp grew its position in QuidelOrtho by 13.0% in the 3rd quarter. M&T Bank Corp now owns 37,258 shares of the company’s stock worth $2,722,000 after purchasing an additional 4,289 shares during the period. Finally, John G Ullman & Associates Inc. grew its position in QuidelOrtho by 25.0% in the 3rd quarter. John G Ullman & Associates Inc. now owns 40,150 shares of the company’s stock worth $2,933,000 after purchasing an additional 8,019 shares during the period. Institutional investors own 93.87% of the company’s stock.

QuidelOrtho Stock Performance

Shares of QDEL opened at $64.27 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.59 and a quick ratio of 0.97. QuidelOrtho has a one year low of $59.29 and a one year high of $102.00. The company has a 50-day simple moving average of $71.63 and a two-hundred day simple moving average of $80.29. The firm has a market capitalization of $4.29 billion, a PE ratio of 338.28 and a beta of 0.33.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.44 by $0.46. QuidelOrtho had a net margin of 0.42% and a return on equity of 6.31%. The business had revenue of $744.00 million during the quarter, compared to analyst estimates of $691.90 million. During the same period last year, the business posted $1.83 earnings per share. QuidelOrtho’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts anticipate that QuidelOrtho will post 4.86 EPS for the current fiscal year.

About QuidelOrtho

QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies and 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.