QuidelOrtho Co. (NASDAQ:QDEL) Receives Consensus Recommendation of "Hold" from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) have been given a consensus recommendation of "Hold" by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $46.83.

QDEL has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Royal Bank of Canada decreased 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. UBS Group lifted their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th.

Institutional Investors Weigh In On QuidelOrtho

Institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of QuidelOrtho by 19.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock valued at $500,690,000 after acquiring an additional 1,840,667 shares during the last quarter. Invesco Ltd. boosted its holdings in QuidelOrtho by 71.7% in the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock valued at $153,584,000 after purchasing an additional 1,439,293 shares in the last quarter. Norges Bank purchased a new position in QuidelOrtho in the fourth quarter valued at approximately $34,171,000. Vanguard Group Inc. increased its stake in QuidelOrtho by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock valued at $303,716,000 after purchasing an additional 764,900 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in shares of QuidelOrtho by 143.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock worth $46,628,000 after buying an additional 617,592 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Price Performance

NASDAQ QDEL traded down $1.75 during mid-day trading on Monday, hitting $25.94. The stock had a trading volume of 2,386,386 shares, compared to its average volume of 1,017,798. QuidelOrtho has a twelve month low of $23.77 and a twelve month 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. The firm's 50 day moving average is $32.07 and its 200 day moving average is $38.37. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -0.86 and a beta of 0.13.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share (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%. Equities research analysts forecast that QuidelOrtho will post 2.3 earnings per share for the current fiscal 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.