QuidelOrtho (NASDAQ:QDEL) Hits New 12-Month Low - Should You Sell?

QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $25.13 and last traded at $28.85, with a volume of 2219044 shares trading hands. The stock had previously closed at $26.20.

Wall Street Analyst Weigh In

QDEL has been the subject of several analyst reports. Royal Bank of Canada reduced their target price 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. UBS Group increased their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $51.20.

QuidelOrtho Stock Performance

The firm's 50-day moving average price is $36.44 and its 200-day moving average price is $39.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The stock has a market cap of $1.84 billion, a P/E ratio of -0.90 and a beta of 0.43.

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

Hedge Funds Weigh In On QuidelOrtho

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in QuidelOrtho in the third quarter worth $238,000. State Street Corp grew its stake in shares of QuidelOrtho by 16.9% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of QuidelOrtho by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company's stock worth $41,996,000 after buying an additional 16,059 shares during the last quarter. Principal Financial Group Inc. increased its stake in QuidelOrtho by 64.5% during the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock worth $12,405,000 after acquiring an additional 106,642 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its stake in shares of QuidelOrtho by 126.5% in the 4th quarter. Moody National Bank Trust Division now owns 37,868 shares of the company's stock valued at $1,687,000 after purchasing an additional 21,147 shares during the last quarter. 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.