QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $35.35, but opened at $36.17. QuidelOrtho shares last traded at $34.79, with a volume of 59,222 shares traded.
Analysts Set New Price Targets
A number of research analysts recently weighed in on QDEL shares. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and lifted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. UBS Group lifted their target price on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. 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 note on Thursday, February 13th. Finally, Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They set a "hold" rating and a $43.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, QuidelOrtho has a consensus rating of "Hold" and a consensus target price of $51.20.
Read Our Latest Stock Analysis on QDEL
QuidelOrtho Stock Down 2.7 %
The business has a 50-day moving average price of $40.14 and a 200 day moving average price of $41.42. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.35 billion, a P/E ratio of -1.15 and a beta of 0.10.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share 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%. On average, equities analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.
Institutional Investors Weigh In On QuidelOrtho
Several institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its stake in QuidelOrtho by 19.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company's stock worth $500,690,000 after buying an additional 1,840,667 shares during the period. Invesco Ltd. grew its holdings in shares of QuidelOrtho by 71.7% in the fourth quarter. Invesco Ltd. now owns 3,447,446 shares of the company's stock worth $153,584,000 after purchasing an additional 1,439,293 shares during the last quarter. Norges Bank purchased a new position in QuidelOrtho in the 4th quarter worth about $34,171,000. Vanguard Group Inc. lifted its holdings in QuidelOrtho by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock valued at $303,716,000 after buying an additional 764,900 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in QuidelOrtho in the 3rd quarter worth about $34,320,000. 99.00% of the stock is owned by institutional investors.
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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