QuidelOrtho Co. (NASDAQ:QDEL) Receives $51.20 Average PT from Analysts

QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $51.20.

A number of research analysts recently issued reports on QDEL shares. William Blair restated a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, November 20th. UBS Group boosted their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Citigroup upgraded QuidelOrtho from a "neutral" rating to a "buy" rating and upped their target price for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th.

QuidelOrtho Trading Down 1.4 %

Shares of QDEL traded down $0.57 during trading hours on Wednesday, hitting $40.46. The company had a trading volume of 998,596 shares, compared to its average volume of 862,956. The firm has a market cap of $2.72 billion, a P/E ratio of -1.34 and a beta of 0.08. The stock's 50 day moving average price is $43.46 and its 200 day moving average price is $42.37. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho has a 52-week low of $29.74 and a 52-week high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. On average, research analysts predict that QuidelOrtho will post 2.3 EPS for the current year.

Insider Transactions at QuidelOrtho

In related news, CEO Brian J. Blaser purchased 6,033 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Institutional Trading of QuidelOrtho

Hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of QuidelOrtho in the 3rd quarter worth approximately $25,000. Quarry LP bought a new position in QuidelOrtho in the 4th quarter valued at approximately $43,000. True Wealth Design LLC lifted its position in QuidelOrtho by 300.7% in the 4th 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. Blue Trust Inc. lifted its position in QuidelOrtho by 188.0% in the 4th 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. Finally, Spire Wealth Management bought a new position in QuidelOrtho in the 4th quarter valued at approximately $74,000. 99.00% of the stock is 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.