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QuidelOrtho Corporation (NASDAQ:QDEL) Given Average Recommendation of "Hold" by Analysts

QuidelOrtho logo with Medical background

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) has received an average rating of "Hold" from the seven brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $44.33.

A number of research firms have issued reports on QDEL. Wall Street Zen raised QuidelOrtho from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a research note on Thursday, May 8th. UBS Group lowered their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st.

Read Our Latest Analysis on QDEL

QuidelOrtho Trading Up 0.6%

NASDAQ QDEL traded up $0.17 on Tuesday, hitting $28.87. The company's stock had a trading volume of 7,986,173 shares, compared to its average volume of 1,133,001. The company's 50-day moving average is $29.77 and its 200 day moving average is $36.04. The firm has a market cap of $1.95 billion, a PE ratio of -5.81 and a beta of 0.10. QuidelOrtho has a 1-year low of $23.77 and a 1-year high of $49.45. The company has a quick ratio of 0.66, a current ratio of 1.20 and a debt-to-equity ratio of 0.70.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. During the same quarter in the previous year, the business posted $0.44 EPS. QuidelOrtho's quarterly revenue was down 2.6% on a year-over-year basis. As a group, analysts predict that QuidelOrtho will post 2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

A number of hedge funds and other institutional investors have recently bought and sold shares of QDEL. Summit Securities Group LLC bought a new stake in shares of QuidelOrtho during the 1st quarter worth $36,000. Quarry LP purchased a new position in shares of QuidelOrtho in the 4th quarter worth about $43,000. True Wealth Design LLC increased its position in shares of QuidelOrtho by 300.7% during the 4th quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $48,000 after purchasing an additional 806 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after buying an additional 844 shares in the last quarter. Finally, State of Wyoming bought a new stake in QuidelOrtho in the 4th quarter worth approximately $164,000. Hedge funds and other institutional investors own 99.00% of the company's stock.

QuidelOrtho Company Profile

(Get Free Report

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.

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Analyst Recommendations for QuidelOrtho (NASDAQ:QDEL)

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