QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $36.51, but opened at $35.21. QuidelOrtho shares last traded at $35.97, with a volume of 16,958 shares traded.
Wall Street Analysts Forecast Growth
A number of research firms have commented on QDEL. Citigroup upgraded QuidelOrtho from a "neutral" rating to a "buy" rating and upped their price target for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. UBS Group upped their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Jefferies Financial Group began coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a "hold" rating and a $43.00 price target for the company. Royal Bank of Canada reduced their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, QuidelOrtho currently has a consensus rating of "Hold" and a consensus price target of $51.20.
Check Out Our Latest Report on QDEL
QuidelOrtho Price Performance
The stock has a market capitalization of $2.35 billion, a P/E ratio of -1.15 and a beta of 0.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The business has a fifty day simple moving average of $40.14 and a 200-day simple moving average of $41.44.
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 the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. Sell-side analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new stake in shares of QuidelOrtho during the third quarter valued at approximately $605,000. State Street Corp increased its stake in QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company's stock valued at $87,000,000 after purchasing an additional 275,522 shares in the last quarter. FMR LLC raised its holdings in QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company's stock worth $57,290,000 after buying an additional 274,633 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of QuidelOrtho in the fourth quarter valued at $301,000. Finally, Principal Financial Group Inc. grew its holdings in shares of QuidelOrtho by 64.5% during the third quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock valued at $12,405,000 after buying an additional 106,642 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.
About QuidelOrtho
(
Get Free Report)
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.
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