QuidelOrtho (NASDAQ:QDEL) Price Target Raised to $45.00

QuidelOrtho (NASDAQ:QDEL - Get Free Report) had its price objective increased by research analysts at UBS Group from $43.00 to $45.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 10.92% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. StockNews.com upgraded shares of QuidelOrtho from a "hold" rating to a "buy" rating in a report on Friday, February 7th. William Blair reiterated a "market perform" rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Jefferies Financial Group assumed coverage on QuidelOrtho in a research note on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price objective on the stock. Finally, Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and increased their price target for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $51.20.

QuidelOrtho Trading Down 2.6 %

NASDAQ:QDEL traded down $1.08 during trading hours on Thursday, reaching $40.57. 1,445,774 shares of the stock were exchanged, compared to its average volume of 828,934. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $43.41 and a two-hundred day moving average of $42.39. QuidelOrtho has a twelve month low of $29.74 and a twelve month high of $49.56. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -1.45 and a beta of 0.08.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. On average, equities analysts predict that QuidelOrtho will post 1.73 EPS for the current year.

Insider Buying and Selling at QuidelOrtho

In other news, CEO Brian J. Blaser bought 6,033 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the transaction, the chief executive officer now owns 6,033 shares of the company's stock, valued at approximately $249,886.86. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $35.31, for a total value of $291,667,061.73. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its position in QuidelOrtho by 540.2% in the 3rd quarter. CWM LLC now owns 10,865 shares of the company's stock valued at $495,000 after purchasing an additional 9,168 shares during the last quarter. Creative Planning purchased a new position in QuidelOrtho during the 3rd quarter worth $476,000. First Citizens Bank & Trust Co. purchased a new position in QuidelOrtho during the 3rd quarter worth $307,000. Allspring Global Investments Holdings LLC grew its position in QuidelOrtho by 970.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,661 shares of the company's stock worth $349,000 after purchasing an additional 6,945 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of QuidelOrtho during the third quarter worth about $388,000. Hedge funds and other institutional investors own 99.00% of the company's stock.

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.