QuidelOrtho Co. (NASDAQ:QDEL) Given Consensus Rating of "Hold" by Brokerages

QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) has been assigned a consensus rating of "Hold" from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $44.33.

QDEL has been the topic of a number of research reports. JPMorgan Chase & Co. decreased 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. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a research report on Thursday. UBS Group cut their price target on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday. Royal Bank of Canada reduced their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QDEL. Quarry LP acquired a new position in QuidelOrtho in the 4th quarter valued at $43,000. True Wealth Design LLC boosted its holdings in shares of QuidelOrtho by 300.7% in the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $48,000 after acquiring an additional 806 shares in the last quarter. Blue Trust Inc. increased its stake in shares of QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after acquiring an additional 844 shares during the period. Spire Wealth Management purchased a new position in QuidelOrtho during the fourth quarter worth about $74,000. Finally, KBC Group NV lifted its position in QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after purchasing an additional 1,895 shares during the period. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Price Performance

Shares of QDEL stock traded down $0.30 during mid-day trading on Monday, hitting $36.16. 895,653 shares of the stock were exchanged, compared to its average volume of 1,054,791. The company has a market cap of $2.44 billion, a PE ratio of -1.19 and a beta of 0.13. QuidelOrtho has a 52-week low of $23.77 and a 52-week high of $49.45. The firm has a fifty day moving average of $31.46 and a 200 day moving average of $38.17. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.13. The firm had revenue of $692.80 million during the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The company's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Research analysts anticipate that QuidelOrtho will post 2.3 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.