Brokerages Set QuidelOrtho Co. (NASDAQ:QDEL) PT at $51.20

Shares of QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $51.20.

Several research analysts have commented on the company. William Blair restated a "market perform" rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Jefferies Financial Group assumed coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price objective for the company. UBS Group increased their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Royal Bank of Canada reduced their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, StockNews.com downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th.

QuidelOrtho Trading Down 0.9 %

Shares of NASDAQ:QDEL traded down $0.30 during trading hours on Friday, hitting $34.59. 993,869 shares of the company's stock traded hands, compared to its average volume of 926,992. The firm has a market capitalization of $2.33 billion, a P/E ratio of -1.14 and a beta of 0.10. The business has a fifty day moving average price of $41.42 and a 200-day moving average price of $41.83. QuidelOrtho has a 1 year low of $29.74 and a 1 year high of $49.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

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QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced 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 negative net margin of 72.84% and a positive return on equity of 3.78%. Equities analysts expect that QuidelOrtho will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC acquired a new position in shares of QuidelOrtho during the third quarter valued at about $605,000. State Street Corp lifted its stake in shares of QuidelOrtho by 16.9% during the third quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after buying an additional 275,522 shares during the period. FMR LLC grew its holdings in shares of QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company's stock valued at $57,290,000 after buying an additional 274,633 shares during the last quarter. Merit Financial Group LLC acquired a new stake in QuidelOrtho during the 4th quarter worth about $301,000. Finally, Principal Financial Group Inc. grew its stake in QuidelOrtho by 64.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock valued at $12,405,000 after purchasing an additional 106,642 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other 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.