QuidelOrtho (NASDAQ:QDEL) Announces Earnings Results

QuidelOrtho (NASDAQ:QDEL) released its quarterly earnings data on Wednesday. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44), Zacks reports. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%.

QuidelOrtho Trading Down 3.7 %

Shares of NASDAQ QDEL traded down $1.53 during midday trading on Wednesday, reaching $39.94. 1,304,428 shares of the stock were exchanged, compared to its average volume of 880,577. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.69 billion, a P/E ratio of -1.43 and a beta of 0.08. The stock has a 50 day moving average price of $43.28 and a 200-day moving average price of $42.36. QuidelOrtho has a 52-week low of $29.74 and a 52-week high of $68.85.

Analysts Set New Price Targets

Several research firms have issued reports on QDEL. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. StockNews.com upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group assumed coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.43.

Insider Buying and Selling

In other news, CEO Brian J. Blaser bought 6,033 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now owns 6,033 shares of the company’s stock, valued at $249,886.86. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.