QuidelOrtho (NASDAQ:QDEL) Price Target Cut to $25.00 by Analysts at JPMorgan Chase & Co.

QuidelOrtho (NASDAQ:QDEL - Free Report) had its target price reduced by JPMorgan Chase & Co. from $38.00 to $25.00 in a research report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other equities analysts have also commented on QDEL. UBS Group raised their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Finally, Royal Bank of Canada dropped their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $46.83.

QuidelOrtho Price Performance

QDEL stock traded up $0.41 during trading on Monday, hitting $28.19. 239,977 shares of the company's stock traded hands, compared to its average volume of 994,130. QuidelOrtho has a 52 week low of $23.77 and a 52 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 fifty day simple moving average of $33.89 and a 200 day simple moving average of $39.02. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -0.93 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (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%. As a group, research analysts expect that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On QuidelOrtho

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of QuidelOrtho by 1.8% in the third quarter. Geode Capital Management LLC now owns 920,703 shares of the company's stock worth $41,996,000 after acquiring an additional 16,059 shares during the period. Principal Financial Group Inc. grew its position in QuidelOrtho by 64.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock worth $12,405,000 after purchasing an additional 106,642 shares during the period. Moody National Bank Trust Division raised its stake in shares of QuidelOrtho by 126.5% during the 4th quarter. Moody National Bank Trust Division now owns 37,868 shares of the company's stock valued at $1,687,000 after buying an additional 21,147 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of QuidelOrtho in the 4th quarter valued at about $433,000. Finally, Oak Thistle LLC acquired a new position in shares of QuidelOrtho in the 4th quarter valued at about $301,000. Institutional investors and hedge funds 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.