QuidelOrtho Co. (NASDAQ:QDEL) Receives Average Recommendation of “Hold” from Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has earned an average rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $46.83.

A number of brokerages recently weighed in on QDEL. Royal Bank of Canada dropped their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. JPMorgan Chase & Co. reduced their target price on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. Finally, UBS Group increased their price objective on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th.

QuidelOrtho Stock Up 4.4 %

QuidelOrtho stock opened at $29.12 on Monday. The stock’s fifty day moving average is $32.34 and its two-hundred day moving average is $38.46. The stock has a market cap of $1.96 billion, a PE ratio of -0.96 and a beta of 0.43. QuidelOrtho has a 1-year low of $23.77 and a 1-year high of $49.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, sell-side analysts expect that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC boosted its holdings in shares of QuidelOrtho by 23.1% in the first quarter. Segall Bryant & Hamill LLC now owns 1,288,718 shares of the company’s stock valued at $45,066,000 after acquiring an additional 242,069 shares in the last quarter. Victory Capital Management Inc. boosted its stake in QuidelOrtho by 111.7% during the first quarter. Victory Capital Management Inc. now owns 67,528 shares of the company’s stock valued at $2,361,000 after buying an additional 35,631 shares in the last quarter. CWM LLC raised its position in QuidelOrtho by 159.1% in the first quarter. CWM LLC now owns 87,966 shares of the company’s stock worth $3,076,000 after acquiring an additional 54,017 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of QuidelOrtho by 25.4% in the 1st quarter. New York State Common Retirement Fund now owns 42,845 shares of the company’s stock worth $1,498,000 after purchasing an additional 8,689 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of QuidelOrtho by 222.4% in the 1st quarter. Cerity Partners LLC now owns 90,808 shares of the company’s stock worth $3,176,000 after purchasing an additional 62,644 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Company Profile

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.