QuidelOrtho (NASDAQ:QDEL) Sets New 1-Year Low - Time to Sell?

Shares of QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $24.89 and last traded at $25.30, with a volume of 389691 shares. The stock had previously closed at $26.56.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. UBS Group boosted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, JPMorgan Chase & Co. reduced their price objective on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, QuidelOrtho presently has a consensus rating of "Hold" and a consensus price target of $46.83.

QuidelOrtho Stock Down 2.4 %

The company has a market cap of $1.66 billion, a PE ratio of -0.81 and a beta of 0.43. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The company's fifty day moving average is $35.09 and its 200-day moving average is $39.46.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QDEL. T. Rowe Price Investment Management Inc. increased its stake in shares of QuidelOrtho by 19.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after purchasing an additional 1,840,667 shares in the last quarter. Vanguard Group Inc. increased its stake in QuidelOrtho by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after buying an additional 764,900 shares in the last quarter. Invesco Ltd. raised its holdings in QuidelOrtho by 71.7% during the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock valued at $153,584,000 after acquiring an additional 1,439,293 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in shares of QuidelOrtho by 5.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company's stock valued at $88,106,000 after acquiring an additional 100,522 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of QuidelOrtho by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock worth $62,666,000 after acquiring an additional 173,174 shares during the period. Institutional investors 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.