QuidelOrtho Corporation (NASDAQ:QDEL) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• QuidelOrtho Corporation has received a consensus recommendation of "Hold" from six brokerages, with one sell rating, two hold ratings, and three buy ratings.
• The average one-year price target for QuidelOrtho stock is $39.20, with recent target prices adjusted by various analysts.
• QuidelOrtho reported earnings of $0.12 per share for the last quarter, beating analysts' expectations while revenues declined by 3.6% year-over-year.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) has received a consensus recommendation of "Hold" from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $39.20.

A number of research analysts have recently weighed in on QDEL shares. UBS Group dropped their target price on QuidelOrtho from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Wall Street Zen lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Citigroup dropped their target price on QuidelOrtho from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th.

QuidelOrtho Stock Up 3.2%

QDEL stock opened at $28.68 on Friday. QuidelOrtho has a twelve month low of $22.05 and a twelve month high of $49.45. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average is $27.06 and its 200-day moving average is $30.23. The firm has a market capitalization of $1.95 billion, a PE ratio of -4.39 and a beta of 0.14.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.11. QuidelOrtho had a positive return on equity of 5.29% and a negative net margin of 16.10%.The company had revenue of $613.90 million for the quarter, compared to analyst estimates of $612.36 million. During the same quarter last year, the company earned ($0.07) earnings per share. The company's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts expect that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

A number of hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in QuidelOrtho by 298.1% during the second quarter. Osaic Holdings Inc. now owns 3,300 shares of the company's stock worth $95,000 after acquiring an additional 2,471 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in QuidelOrtho by 11.9% during the second quarter. Orion Porfolio Solutions LLC now owns 22,551 shares of the company's stock worth $650,000 after acquiring an additional 2,392 shares during the period. Squarepoint Ops LLC bought a new stake in QuidelOrtho during the second quarter worth $685,000. State of Wyoming lifted its holdings in QuidelOrtho by 230.5% during the second quarter. State of Wyoming now owns 4,524 shares of the company's stock worth $130,000 after acquiring an additional 3,155 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in QuidelOrtho by 8.1% during the second quarter. Public Sector Pension Investment Board now owns 225,918 shares of the company's stock worth $6,511,000 after acquiring an additional 16,928 shares during the period. 99.00% of the stock is currently owned by institutional investors.

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.

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