Analysts Set QuidelOrtho Corporation (NASDAQ:QDEL) Price Target at $44.33

Shares of QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) have been assigned an average rating of "Hold" from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $44.33.

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

Institutional Investors Weigh In On QuidelOrtho

A number of large investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in QuidelOrtho in the fourth quarter valued at $871,000. Raymond James Financial Inc. purchased a new position in shares of QuidelOrtho during the 4th quarter worth approximately $2,169,000. Swiss National Bank grew its holdings in shares of 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 acquiring an additional 21,100 shares during the period. Corient Private Wealth LLC raised its position in shares of QuidelOrtho by 10.6% in the 4th quarter. Corient Private Wealth LLC now owns 6,874 shares of the company's stock worth $306,000 after acquiring an additional 661 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of QuidelOrtho by 12.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 50,947 shares of the company's stock valued at $2,270,000 after purchasing an additional 5,540 shares during the period. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Stock Down 4.6%

Shares of QDEL stock traded down $1.23 during trading hours on Friday, hitting $25.45. 1,505,998 shares of the company were exchanged, compared to its average volume of 1,152,070. The company has a market capitalization of $1.72 billion, a PE ratio of -5.12 and a beta of 0.07. QuidelOrtho has a 52 week low of $23.77 and a 52 week high of $49.45. The business has a 50 day moving average of $30.12 and a two-hundred day moving average of $34.50. The company has a current ratio of 1.20, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $692.80 million for the quarter, compared to analyst estimates of $694.97 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company's quarterly revenue was down 2.6% compared to the same quarter last year. Analysts anticipate that QuidelOrtho will post 2.3 earnings per share for the current fiscal year.

About QuidelOrtho

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.