QuidelOrtho Co. (NASDAQ:QDEL) Given Consensus Rating of “Hold” by Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has received an average recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $58.83.

QDEL has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research report on Friday, August 16th. UBS Group began coverage on QuidelOrtho in a report on Thursday. They set a “neutral” rating and a $50.00 price target on the stock. Finally, Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $57.00 in a report on Thursday, September 5th.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 24,390 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $30.09, for a total value of $733,895.10. Following the completion of the sale, the insider now owns 11,141,580 shares in the company, valued at approximately $335,250,142.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 1,902,466 shares of company stock valued at $69,552,560 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

A number of institutional investors and hedge funds have recently bought and sold shares of QDEL. Algert Global LLC boosted its stake in QuidelOrtho by 1.0% during the second quarter. Algert Global LLC now owns 46,846 shares of the company’s stock valued at $1,556,000 after buying an additional 450 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of QuidelOrtho by 532.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 155,456 shares of the company’s stock valued at $5,164,000 after acquiring an additional 130,880 shares during the last quarter. Scientech Research LLC purchased a new position in shares of QuidelOrtho in the second quarter valued at $441,000. Maverick Capital Ltd. increased its position in QuidelOrtho by 27.5% in the second quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock worth $57,434,000 after purchasing an additional 372,662 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in QuidelOrtho during the second quarter valued at $3,501,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock opened at $45.40 on Friday. QuidelOrtho has a 12 month low of $29.74 and a 12 month high of $75.86. The firm has a market capitalization of $3.04 billion, a P/E ratio of -1.72 and a beta of 0.08. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $41.66 and a two-hundred day simple moving average of $41.24.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.15. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $613.51 million. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the business earned $0.26 earnings per share. On average, equities analysts forecast that QuidelOrtho will post 1.77 earnings per share for the current fiscal year.

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.