QuidelOrtho Co. (NASDAQ:QDEL) Given Average Rating of “Moderate Buy” by Analysts

QuidelOrtho Co. (NASDAQ:QDEL) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $51.20.

Several analysts have recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. UBS Group boosted their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada lowered their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. Finally, Jefferies Financial Group began coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price for the company.

QuidelOrtho Trading Down 1.8 %

NASDAQ QDEL opened at $41.19 on Wednesday. The company has a fifty day moving average of $43.41 and a 200 day moving average of $42.40. The company has a market capitalization of $2.77 billion, a PE ratio of -1.36 and a beta of 0.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. QuidelOrtho has a 1 year low of $29.74 and a 1 year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. Research analysts forecast that QuidelOrtho will post 2.3 earnings per share for the current year.

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser acquired 6,033 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the transaction, the chief executive officer now owns 6,033 shares of the company’s stock, valued at $249,886.86. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On QuidelOrtho

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its holdings in QuidelOrtho by 19.6% during 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 buying an additional 1,840,667 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of QuidelOrtho by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company’s stock worth $303,716,000 after acquiring an additional 764,900 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of QuidelOrtho by 15.2% in the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after acquiring an additional 554,410 shares during the period. Invesco Ltd. increased its stake in QuidelOrtho by 71.7% in the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company’s stock valued at $153,584,000 after purchasing an additional 1,439,293 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised 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 buying an additional 100,522 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

About QuidelOrtho

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.