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

QuidelOrtho Corporation (NASDAQ:QDEL) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $44.33.

Several equities research analysts have recently commented on QDEL shares. Jefferies Financial Group upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, May 8th. UBS Group reduced their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of QuidelOrtho from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st.

QuidelOrtho Trading Down 4.6%

NASDAQ:QDEL opened at $25.45 on Friday. QuidelOrtho has a one year low of $23.77 and a one year high of $49.45. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 1.20. The firm has a market cap of $1.72 billion, a P/E ratio of -5.12 and a beta of 0.07. The firm has a 50-day simple moving average of $30.34 and a 200-day simple moving average of $34.63.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.61 by $0.13. QuidelOrtho had a negative net margin of 12.07% and a positive return on equity of 4.71%. The business had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. During the same quarter in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts anticipate that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QDEL. Proficio Capital Partners LLC purchased a new stake in QuidelOrtho during the 4th quarter worth approximately $871,000. Raymond James Financial Inc. purchased a new stake in QuidelOrtho during the 4th quarter worth approximately $2,169,000. Swiss National Bank grew its position in QuidelOrtho by 19.0% during the 4th quarter. Swiss National Bank now owns 132,240 shares of the company’s stock worth $5,891,000 after purchasing an additional 21,100 shares during the last quarter. Corient Private Wealth LLC grew its position in QuidelOrtho by 10.6% during the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock worth $306,000 after purchasing an additional 661 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in QuidelOrtho by 12.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 50,947 shares of the company’s stock worth $2,270,000 after purchasing an additional 5,540 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

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.