QuidelOrtho (NASDAQ:QDEL) Upgraded to "Buy" at Wall Street Zen

QuidelOrtho (NASDAQ:QDEL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Friday.

QDEL has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group raised QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research report on Thursday, May 8th. UBS Group reduced their price objective on shares of QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Royal Bank of Canada reduced their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.33.

QuidelOrtho Stock Performance

Shares of QDEL stock traded up $0.68 on Friday, hitting $30.21. The company's stock had a trading volume of 1,027,768 shares, compared to its average volume of 1,093,879. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The stock's 50 day moving average is $29.39 and its 200-day moving average is $37.01. QuidelOrtho has a fifty-two week low of $23.77 and a fifty-two week high of $49.45. The company has a market capitalization of $2.04 billion, a PE ratio of -1.00 and a beta of 0.10.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.61 by $0.13. The business had revenue of $692.80 million for the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. QuidelOrtho's revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. Equities research analysts expect that QuidelOrtho will post 2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in shares of QuidelOrtho by 344.3% in the 4th quarter. Blue Trust Inc. now owns 1,995 shares of the company's stock valued at $91,000 after purchasing an additional 1,546 shares in the last quarter. KBC Group NV boosted its stake in shares of QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after purchasing an additional 1,895 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of QuidelOrtho in the 4th quarter valued at approximately $74,000. Yousif Capital Management LLC boosted its stake in shares of QuidelOrtho by 11.7% in the 4th quarter. Yousif Capital Management LLC now owns 25,216 shares of the company's stock valued at $1,123,000 after purchasing an additional 2,646 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of QuidelOrtho by 13.6% in the 4th quarter. State of Alaska Department of Revenue now owns 37,497 shares of the company's stock valued at $1,670,000 after purchasing an additional 4,501 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

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.