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

Key Points

• QuidelOrtho Corporation has received a consensus recommendation of "Hold" from six research firms, with one sell, two hold, and three buy ratings.
• The average twelve-month price target among analysts for QuidelOrtho is $39.20, indicating potential upside from current prices.
• Recently, several institutional investors increased their holdings in QuidelOrtho, with institutional ownership now standing at 99.00% of the company's stock.

Shares of QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) have received a consensus recommendation of "Hold" from the six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $39.20.

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

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors have recently modified their holdings of the business. Bfsg LLC grew its position in shares of QuidelOrtho by 6.8% during the 2nd quarter. Bfsg LLC now owns 5,460 shares of the company's stock valued at $157,000 after buying an additional 347 shares during the last quarter. Quarry LP grew its position in shares of QuidelOrtho by 47.1% during the 1st quarter. Quarry LP now owns 1,436 shares of the company's stock valued at $50,000 after buying an additional 460 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of QuidelOrtho by 1.8% during the 2nd quarter. Yousif Capital Management LLC now owns 26,428 shares of the company's stock valued at $762,000 after buying an additional 478 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of QuidelOrtho by 1.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 30,379 shares of the company's stock valued at $876,000 after buying an additional 578 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of QuidelOrtho by 46.4% during the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock valued at $57,000 after buying an additional 623 shares during the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock opened at $31.25 on Thursday. The firm has a market cap of $2.12 billion, a PE ratio of -4.78 and a beta of 0.27. The firm's 50-day simple moving average is $27.04 and its 200-day simple moving average is $28.97. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. QuidelOrtho has a 1 year low of $22.05 and a 1 year high of $49.45.

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

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