QuidelOrtho (NASDAQ:QDEL - Get Free Report) was upgraded by Citigroup from a "neutral" rating to a "buy" rating in a research note issued to investors on Wednesday, Marketbeat reports. The firm presently has a $50.00 target price on the stock, up from their previous target price of $44.00. Citigroup's target price points to a potential upside of 20.42% from the stock's current price.
A number of other research analysts also recently weighed in on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price target on shares of QuidelOrtho in a research note on Friday, August 16th. UBS Group assumed coverage on shares of QuidelOrtho in a report on Thursday, September 19th. They issued a "neutral" rating and a $50.00 target price for the company. Jefferies Financial Group initiated coverage on QuidelOrtho in a research report on Tuesday. They set a "hold" rating and a $43.00 target price for the company. Craig Hallum upgraded QuidelOrtho from a "hold" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $57.00 in a report on Thursday, September 5th. Finally, William Blair restated a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $53.43.
Read Our Latest Report on QuidelOrtho
QuidelOrtho Trading Up 7.8 %
NASDAQ:QDEL traded up $3.02 on Wednesday, hitting $41.52. 1,770,008 shares of the stock were exchanged, compared to its average volume of 993,068. QuidelOrtho has a 52 week low of $29.74 and a 52 week high of $75.86. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -1.47 and a beta of 0.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.38. The company's 50-day moving average price is $40.14 and its 200 day moving average price is $40.05.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The firm had revenue of $727.00 million for the quarter, compared to analysts' expectations of $642.16 million. During the same period in the previous year, the firm posted $0.90 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that QuidelOrtho will post 1.73 earnings per share for the current year.
Insider Buying and Selling 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.
Institutional Trading of QuidelOrtho
Institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of QuidelOrtho during the 3rd quarter worth approximately $25,000. Fifth Third Bancorp increased its stake in shares of QuidelOrtho by 907.3% in the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company's stock valued at $27,000 after acquiring an additional 744 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of QuidelOrtho during the second quarter worth approximately $102,000. Quest Partners LLC boosted its holdings in QuidelOrtho by 17,095.0% during the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company's stock worth $114,000 after acquiring an additional 3,419 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in QuidelOrtho by 73.6% during the third quarter. GAMMA Investing LLC now owns 3,086 shares of the company's stock worth $141,000 after buying an additional 1,308 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.
About QuidelOrtho
(
Get Free Report)
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.
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