QuidelOrtho Co. (NASDAQ:QDEL) Receives $51.20 Consensus PT from Brokerages

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $51.20.

A number of analysts recently commented on QDEL shares. UBS Group raised their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. Jefferies Financial Group began coverage on QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target for the company. 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. Finally, StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th.

Hedge Funds Weigh In On QuidelOrtho

Several institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC increased its holdings in shares of QuidelOrtho by 7.7% during the fourth quarter. Voya Investment Management LLC now owns 7,551 shares of the company’s stock valued at $336,000 after acquiring an additional 538 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of QuidelOrtho by 10.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock valued at $306,000 after acquiring an additional 661 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after acquiring an additional 806 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock valued at $292,000 after acquiring an additional 816 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after acquiring an additional 844 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $35.93 on Friday. The firm has a market cap of $2.42 billion, a PE ratio of -1.19 and a beta of 0.10. QuidelOrtho has a fifty-two week low of $29.74 and a fifty-two week high of $49.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The business has a 50 day moving average price of $40.78 and a 200-day moving average price of $41.70.

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

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.