QuidelOrtho (NASDAQ:QDEL) Earns Hold Rating from Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group began coverage on shares of QuidelOrtho (NASDAQ:QDEL) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set a “hold” rating and a $43.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 6.09% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Finally, Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, QuidelOrtho presently has a consensus rating of “Hold” and a consensus price target of $56.57.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $40.53 on Tuesday. QuidelOrtho has a 1-year low of $29.74 and a 1-year high of $75.86. The business’s 50 day moving average is $40.25 and its 200-day moving average is $40.08. 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 firm has a market cap of $2.73 billion, a P/E ratio of -1.45 and a beta of 0.11.

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

Insider Activity at QuidelOrtho

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

Hedge Funds Weigh In On QuidelOrtho

A number of hedge funds have recently made changes to their positions in QDEL. Texas Permanent School Fund Corp increased its position in QuidelOrtho by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company’s stock valued at $1,446,000 after purchasing an additional 257 shares during the period. Balanced Rock Investment Advisors LLC increased its position in shares of QuidelOrtho by 5.1% during the second quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company’s stock worth $225,000 after buying an additional 329 shares during the period. Algert Global LLC raised its stake in QuidelOrtho by 1.0% during the second quarter. Algert Global LLC now owns 46,846 shares of the company’s stock worth $1,556,000 after buying an additional 450 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its holdings in QuidelOrtho by 2.9% in the third quarter. Hunter Perkins Capital Management LLC now owns 18,588 shares of the company’s stock valued at $848,000 after buying an additional 530 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in QuidelOrtho during the third quarter valued at $25,000. 99.00% of the stock is currently owned by institutional investors.

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.