QuidelOrtho Co. (NASDAQ:QDEL) Receives $61.60 Average Target Price from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) have earned an average recommendation of "Hold" from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment 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 twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $61.60.

QDEL has been the topic of a number of recent research reports. Raymond James restated an "outperform" rating and set a $76.00 price objective (down previously from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. Royal Bank of Canada cut their price target on QuidelOrtho from $130.00 to $81.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 14th. UBS Group reiterated a "sell" rating and issued a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. JPMorgan Chase & Co. cut QuidelOrtho from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $66.00 to $37.00 in a research note on Wednesday, February 14th. Finally, William Blair reiterated a "market perform" rating on shares of QuidelOrtho in a research note on Wednesday, February 14th.

Insider Buying and Selling at QuidelOrtho

In other news, CFO Joseph M. Busky acquired 2,150 shares of the business's stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the purchase, the chief financial officer now directly owns 2,150 shares of the company's stock, valued at approximately $99,652.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuidelOrtho

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of QuidelOrtho by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,841,410 shares of the company's stock valued at $356,812,000 after purchasing an additional 44,770 shares during the last quarter. Senvest Management LLC grew its holdings in QuidelOrtho by 7.6% in the 3rd quarter. Senvest Management LLC now owns 3,330,278 shares of the company's stock worth $243,244,000 after buying an additional 235,000 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in QuidelOrtho by 69.1% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company's stock worth $98,606,000 after buying an additional 551,524 shares in the last quarter. Rubric Capital Management LP grew its holdings in QuidelOrtho by 230.6% in the 4th quarter. Rubric Capital Management LP now owns 980,063 shares of the company's stock worth $72,231,000 after buying an additional 683,637 shares in the last quarter. Finally, LGT Capital Partners LTD. grew its holdings in QuidelOrtho by 69.9% in the 4th quarter. LGT Capital Partners LTD. now owns 954,466 shares of the company's stock worth $70,344,000 after buying an additional 392,790 shares in the last quarter. 99.00% of the stock is owned by institutional investors.

QuidelOrtho Trading Down 2.8 %

QDEL stock traded down $1.13 during trading on Thursday, reaching $39.69. 913,663 shares of the stock traded hands, compared to its average volume of 1,008,873. The business's 50 day moving average price is $44.67 and its 200-day moving average price is $60.03. QuidelOrtho has a 52-week low of $37.78 and a 52-week high of $95.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88. The firm has a market capitalization of $2.65 billion, a PE ratio of -245.38 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.84). The firm had revenue of $742.60 million for the quarter, compared to analysts' expectations of $796.91 million. QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. QuidelOrtho's revenue was down 14.3% on a year-over-year basis. During the same period last year, the firm posted $1.74 EPS. As a group, sell-side analysts forecast that QuidelOrtho will post 2.28 earnings per share for the current year.

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.