QuidelOrtho (NASDAQ:QDEL) Sets New 1-Year Low - Should You Sell?

QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report)'s stock price reached a new 52-week low on Friday . The company traded as low as $28.48 and last traded at $28.43, with a volume of 391036 shares. The stock had previously closed at $32.49.

Analyst Ratings Changes

QDEL has been the topic of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a "hold" rating and a $43.00 price objective on the stock. Citigroup upgraded QuidelOrtho from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. StockNews.com downgraded QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Royal Bank of Canada dropped their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, UBS Group raised their price objective on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $51.20.

QuidelOrtho Stock Performance

The firm has a fifty day moving average of $37.99 and a 200 day moving average of $40.58. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -0.95 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its 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 positive return on equity of 3.78% and a negative net margin of 72.84%. As a group, sell-side analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current year.

Institutional Trading of QuidelOrtho

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after acquiring an additional 275,522 shares during the period. Merit Financial Group LLC acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $301,000. Principal Financial Group Inc. grew its holdings in shares of QuidelOrtho by 64.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock worth $12,405,000 after purchasing an additional 106,642 shares during the period. Geode Capital Management LLC increased its position in shares of QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company's stock worth $41,996,000 after purchasing an additional 16,059 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in QuidelOrtho by 22.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,411 shares of the company's stock valued at $2,424,000 after buying an additional 9,956 shares during the period. 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.