QuidelOrtho Co. (NASDAQ:QDEL) Given Average Rating of "Hold" by Brokerages

Shares of QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) have been assigned an average rating of "Hold" from the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $58.83.

A number of research firms recently commented on QDEL. Craig Hallum raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and raised their price objective for the stock from $40.00 to $57.00 in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, UBS Group started coverage on shares of QuidelOrtho in a research note on Thursday, September 19th. They issued a "neutral" rating and a $50.00 price objective for the company.

QuidelOrtho Price Performance

QuidelOrtho stock traded down $0.65 during mid-day trading on Monday, hitting $43.10. The company's stock had a trading volume of 858,105 shares, compared to its average volume of 969,841. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $2.90 billion, a P/E ratio of -1.57 and a beta of 0.12. QuidelOrtho has a twelve month low of $29.74 and a twelve month high of $75.86. The stock's fifty day moving average price is $42.27 and its two-hundred day moving average price is $40.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.07%. The firm had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. During the same quarter last year, the business posted $0.90 EPS. The company's revenue was down 2.3% on a year-over-year basis. Research analysts forecast that QuidelOrtho will post 1.72 earnings per share for the current year.

Institutional Trading of QuidelOrtho

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in QuidelOrtho by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company's stock worth $233,906,000 after purchasing an additional 37,733 shares during the period. Rubric Capital Management LP raised its holdings in QuidelOrtho by 51.9% in the second quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company's stock worth $121,106,000 after purchasing an additional 1,245,590 shares during the period. Maverick Capital Ltd. raised its holdings in QuidelOrtho by 27.5% in the second quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company's stock worth $57,434,000 after purchasing an additional 372,662 shares during the period. Private Management Group Inc. raised its holdings in QuidelOrtho by 2.6% in the third quarter. Private Management Group Inc. now owns 626,705 shares of the company's stock worth $28,578,000 after purchasing an additional 16,084 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in QuidelOrtho by 9.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 593,157 shares of the company's stock worth $19,705,000 after purchasing an additional 52,729 shares during the period. 99.00% of the stock is owned by institutional investors.

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.