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

Shares of QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) have received a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $51.20.

QDEL has been the topic of a number of recent analyst reports. StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Royal Bank of Canada decreased their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group boosted their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th.

Institutional Trading of QuidelOrtho

Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its holdings in QuidelOrtho by 7.7% in the 4th quarter. Voya Investment Management LLC now owns 7,551 shares of the company's stock valued at $336,000 after purchasing an additional 538 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of QuidelOrtho by 10.6% in the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock valued at $306,000 after purchasing an additional 661 shares during the last quarter. Yousif Capital Management LLC boosted its stake in QuidelOrtho by 2.9% during the first quarter. Yousif Capital Management LLC now owns 25,950 shares of the company's stock worth $907,000 after buying an additional 734 shares during the last quarter. Rhumbline Advisers grew its holdings in QuidelOrtho by 0.6% in the 1st quarter. Rhumbline Advisers now owns 129,025 shares of the company's stock valued at $4,512,000 after buying an additional 770 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in shares of QuidelOrtho by 300.7% in the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $48,000 after acquiring an additional 806 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Stock Performance

Shares of QDEL traded down $0.72 during trading hours on Thursday, hitting $26.56. The stock had a trading volume of 1,552,347 shares, compared to its average volume of 984,792. The firm has a 50-day moving average price of $36.12 and a 200 day moving average price of $39.89. QuidelOrtho has a fifty-two week low of $25.13 and a fifty-two week high of $49.45. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. As a group, research analysts anticipate that QuidelOrtho will post 2.3 EPS 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.