QuidelOrtho Co. (NASDAQ:QDEL) Given Consensus Recommendation of “Hold” by Brokerages

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

QDEL has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. JPMorgan Chase & Co. cut QuidelOrtho from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $66.00 to $37.00 in a research note on Wednesday, February 14th. UBS Group restated a “sell” rating and set a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Finally, Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th.

QuidelOrtho Stock Up 1.0 %

Shares of NASDAQ:QDEL opened at $40.82 on Thursday. The business has a 50-day moving average price of $44.67 and a 200 day moving average price of $60.03. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -255.13 and a beta of 0.11. QuidelOrtho has a 12-month low of $37.78 and a 12-month high of $95.02.

QuidelOrtho (NASDAQ:QDEL) last announced 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 analysts’ expectations of $796.91 million. During the same quarter last year, the business earned $1.74 earnings per share. The business’s revenue was down 14.3% compared to the same quarter last year. Sell-side analysts expect that QuidelOrtho will post 2.28 EPS for the current year.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky bought 2,150 shares of the business’s stock in a transaction dated 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 purchase, the chief financial officer now owns 2,150 shares in the company, valued at approximately $99,652.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds have recently bought and sold shares of QDEL. Rubric Capital Management LP grew its holdings in QuidelOrtho by 230.6% during the 4th quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock valued at $72,231,000 after buying an additional 683,637 shares during the last quarter. Norges Bank acquired a new stake in QuidelOrtho during the 4th quarter valued at $41,968,000. Burgundy Asset Management Ltd. grew its holdings in QuidelOrtho by 69.1% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company’s stock valued at $98,606,000 after buying an additional 551,524 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in QuidelOrtho by 144.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after buying an additional 536,492 shares during the last quarter. Finally, LSV Asset Management grew its holdings in QuidelOrtho by 217.4% during the 3rd quarter. LSV Asset Management now owns 737,395 shares of the company’s stock valued at $53,859,000 after buying an additional 505,050 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

About QuidelOrtho

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.