Analysts Set QuidelOrtho Co. (NASDAQ:QDEL) PT at $58.83

QuidelOrtho Co. (NASDAQ:QDEL) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $58.83.

A number of research firms recently issued reports on QDEL. UBS Group began coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price for the company. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th.

QuidelOrtho Trading Down 1.9 %

NASDAQ QDEL opened at $38.89 on Thursday. QuidelOrtho has a 12 month low of $29.74 and a 12 month high of $75.86. The company has a 50-day moving average of $43.39 and a 200-day moving average of $40.61. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 0.79. The company has a market cap of $2.60 billion, a P/E ratio of -1.47 and a beta of 0.09.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $613.51 million. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts predict that QuidelOrtho will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 78,180 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $39.94, for a total value of $3,122,509.20. Following the completion of the transaction, the insider now owns 8,441,022 shares in the company, valued at $337,134,418.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 792,712 shares of company stock worth $31,676,120 in the last 90 days. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuidelOrtho

Institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new position in QuidelOrtho in the 1st quarter worth approximately $1,178,000. Vanguard Group Inc. boosted its stake in shares of QuidelOrtho by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,841,410 shares of the company’s stock valued at $356,812,000 after buying an additional 44,770 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of QuidelOrtho during the 1st quarter valued at approximately $2,388,000. Edgestream Partners L.P. purchased a new position in shares of QuidelOrtho during the 1st quarter valued at approximately $919,000. Finally, Hsbc Holdings PLC boosted its stake in shares of QuidelOrtho by 316.2% during the 2nd quarter. Hsbc Holdings PLC now owns 28,916 shares of the company’s stock valued at $962,000 after buying an additional 21,968 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

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.