QuidelOrtho (NASDAQ:QDEL) Reaches New 12-Month Low - Should You Sell?

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $23.68 and last traded at $23.81, with a volume of 90894 shares changing hands. The stock had previously closed at $24.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QDEL. Jefferies Financial Group upgraded QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 target price for the company in a research note on Thursday, May 8th. UBS Group lowered their target price on QuidelOrtho from $45.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $44.33.

QuidelOrtho Stock Performance

The firm has a fifty day moving average of $28.63 and a 200-day moving average of $33.00. The firm has a market cap of $1.55 billion, a P/E ratio of -4.61 and a beta of -0.04. 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 issued its earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.13. QuidelOrtho had a positive return on equity of 4.71% and a negative net margin of 12.07%. The firm had revenue of $692.80 million for the quarter, compared to analysts' expectations of $694.97 million. During the same quarter last year, the business earned $0.44 earnings per share. The company's revenue was down 2.6% compared to the same quarter last year. Research analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in QuidelOrtho during the fourth quarter worth about $43,000. Summit Securities Group LLC bought a new position in QuidelOrtho during the first quarter worth about $36,000. True Wealth Design LLC boosted its holdings in QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $48,000 after buying an additional 806 shares during the last quarter. Blue Trust Inc. boosted its holdings in QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock worth $57,000 after buying an additional 623 shares during the last quarter. Finally, State of Wyoming bought a new position in QuidelOrtho during the fourth quarter worth about $164,000. 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.