QuidelOrtho Co. (NASDAQ:QDEL) Receives Consensus Rating of “Hold” from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDELGet Free Report) have earned an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $59.00.

Separately, Royal Bank of Canada reduced their price objective on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th.

Get Our Latest Stock Analysis on QDEL

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 127,981 shares of QuidelOrtho stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $36.19, for a total transaction of $4,631,632.39. Following the completion of the sale, the insider now directly owns 12,123,705 shares in the company, valued at approximately $438,756,883.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 748,798 shares of company stock worth $25,854,673 over the last three months. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuidelOrtho

A number of institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP grew its holdings in QuidelOrtho by 230.6% during the fourth quarter. Rubric Capital Management LP now owns 980,063 shares of the company’s stock worth $72,231,000 after acquiring an additional 683,637 shares during the period. Norges Bank purchased a new position in shares of QuidelOrtho during the 4th quarter valued at approximately $41,968,000. Dimensional Fund Advisors LP lifted its stake in shares of QuidelOrtho by 144.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock valued at $66,961,000 after purchasing an additional 536,492 shares during the period. Invenomic Capital Management LP purchased a new stake in QuidelOrtho during the fourth quarter worth $37,144,000. Finally, LGT Capital Partners LTD. grew its position in QuidelOrtho by 69.9% during the fourth quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company’s stock valued at $70,344,000 after buying an additional 392,790 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

Shares of NASDAQ:QDEL opened at $30.36 on Tuesday. The firm has a 50 day moving average of $39.42 and a 200 day moving average of $49.88. The company has a quick ratio of 0.81, a current ratio of 1.55 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -1.15 and a beta of 0.07. QuidelOrtho has a 52 week low of $30.07 and a 52 week high of $89.11.

QuidelOrtho (NASDAQ:QDELGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. The company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $697.33 million. On average, sell-side analysts predict that QuidelOrtho will post 1.85 earnings per share for the current fiscal year.

QuidelOrtho Company Profile

(Get Free Report

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.

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Analyst Recommendations for QuidelOrtho (NASDAQ:QDEL)

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