QuidelOrtho (NASDAQ:QDEL) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of QuidelOrtho (NASDAQ:QDEL) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $43.00 target price on the stock.

A number of other brokerages have also commented on QDEL. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a report on Friday, August 16th. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Finally, UBS Group started coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.43.

QuidelOrtho Trading Up 0.2 %

QDEL opened at $41.60 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. The company’s 50-day moving average is $40.04 and its 200 day moving average is $40.08. The firm has a market capitalization of $2.80 billion, a PE ratio of -1.49 and a beta of 0.11. QuidelOrtho has a fifty-two week low of $29.74 and a fifty-two week high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The business had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same period in the prior year, the firm posted $0.90 EPS. QuidelOrtho’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts predict that QuidelOrtho will post 1.73 earnings per share for the current fiscal year.

Insider Activity

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Leeward Investments LLC MA lifted its position in QuidelOrtho by 17.1% during the third quarter. Leeward Investments LLC MA now owns 229,847 shares of the company’s stock valued at $10,481,000 after purchasing an additional 33,588 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of QuidelOrtho by 316.2% during the 2nd quarter. Hsbc Holdings PLC now owns 28,916 shares of the company’s stock worth $962,000 after acquiring an additional 21,968 shares during the last quarter. WINTON GROUP Ltd purchased a new position in QuidelOrtho in the second quarter worth $4,669,000. Parkman Healthcare Partners LLC bought a new position in QuidelOrtho in the third quarter valued at $3,420,000. Finally, Cerity Partners LLC purchased a new stake in QuidelOrtho during the third quarter valued at about $605,000. Hedge funds and other 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.