QuidelOrtho Co. (NASDAQ:QDEL - Get Free Report)'s stock price traded down 4.9% on Friday after StockNews.com downgraded the stock from a buy rating to a hold rating. The company traded as low as $39.73 and last traded at $39.60. 159,216 shares changed hands during trading, a decline of 82% from the average session volume of 898,303 shares. The stock had previously closed at $41.65.
A number of other brokerages have also weighed in on QDEL. William Blair restated a "market perform" rating on shares of QuidelOrtho in a research report 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. Royal Bank of Canada lowered their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $44.00 to $50.00 in a research report on Wednesday, December 11th. Finally, UBS Group lifted 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $51.20.
Read Our Latest Research Report on QuidelOrtho
Insider Activity at QuidelOrtho
In other QuidelOrtho news, CEO Brian J. Blaser purchased 6,033 shares of QuidelOrtho stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the acquisition, the chief executive officer now owns 6,033 shares in the company, valued at $249,886.86. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was 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 currently owned by insiders.
Institutional Trading of QuidelOrtho
A number of hedge funds and other institutional investors have recently bought and sold shares of QDEL. Cerity Partners LLC bought a new position in shares of QuidelOrtho in the third quarter worth about $605,000. Leeward Investments LLC MA grew its stake in QuidelOrtho by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 229,847 shares of the company's stock worth $10,481,000 after acquiring an additional 33,588 shares in the last quarter. State Street Corp increased its position in shares of QuidelOrtho by 16.9% during 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. FMR LLC raised its stake in shares of QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company's stock valued at $57,290,000 after acquiring an additional 274,633 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of QuidelOrtho in the fourth quarter valued at approximately $301,000. Hedge funds and other institutional investors own 99.00% of the company's stock.
QuidelOrtho Stock Performance
The firm has a 50 day moving average of $43.41 and a 200-day moving average of $42.38. The company has a market cap of $2.79 billion, a P/E ratio of -1.49 and a beta of 0.08. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted 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 positive return on equity of 4.24% and a negative net margin of 66.25%. As a group, sell-side analysts anticipate that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.
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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