QuidelOrtho Co. (NASDAQ:QDEL) Receives Average Rating of “Hold” by Brokerages

QuidelOrtho Co. Stock (NASDAQ: QDEL – Get a rating) received a consensus recommendation of “Hold” from the six brokerages that currently cover the business, Marketbeat.com reports. One investment analyst gave the stock a sell rating, three gave the company a hold rating and one gave the company a strong buy rating. The 1-year average price target among brokerages that have covered the stock over the past year is $102.00.

A number of brokerages have weighed in on QDEL recently. Citigroup began covering QuidelOrtho in a research note on Monday, September 19. They set a “neutral” rating and a price target of $90.00 on the stock. UBS Group began covering QuidelOrtho in a research report on Wednesday, July 20. They issued a “sell” rating and a target price of $86.00 on the stock. JPMorgan Chase & Co. began covering QuidelOrtho in a research report on Friday, June 17. They issued a “neutral” rating on the title. To finish, StockNews.com began covering QuidelOrtho in a research report on Wednesday. They issued a “hold” rating on the stock.

QuidelOrtho Price Performance

QDEL shares opened at $74.60 on Friday. QuidelOrtho has a fifty-two week minimum of $66.88 and a fifty-two week maximum of $180.06. The company has a market capitalization of $4.99 billion, a price-earnings ratio of 3.16 and a beta of 0.18. The company has a debt ratio of 0.51, a quick ratio of 1.12 and a current ratio of 1.73. The stock’s 50-day simple moving average is $79.85 and its 200-day simple moving average is $94.64.

QuidelOrtho (NASDAQ:QDEL – Get an assessment) last released its quarterly results on Thursday, August 4. The company reported earnings per share of $2.11 for the quarter, missing analyst consensus estimates of $3.56 per ($1.45). QuidelOrtho had a return on equity of 42.55% and a net margin of 36.43%. The company posted revenue of $613.40 million for the quarter, compared to $572.53 million expected by analysts. As a group, stock analysts expect QuidelOrtho to post earnings per share of 11.6 for the current fiscal year.

Institutional entries and exits

A number of large investors have recently bought and sold shares of QDEL. Western Pacific Wealth Management LP acquired a new position in shares of QuidelOrtho during Q4 worth approximately $26,000. First Horizon Advisors Inc. increased its stake in shares of QuidelOrtho by 2,580.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 268 shares of the company worth $26,000 after purchasing an additional 258 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of QuidelOrtho by 177.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 305 shares of the company worth $30,000 after purchasing an additional 195 shares during the period. Exane Derivatives increased its stake in QuidelOrtho shares by 4,883.3% during the 1st quarter. Exane Derivatives now owns 299 shares of the company worth $34,000 after purchasing an additional 293 shares during the period. Finally, New Century Advisors LLC increased its equity stake in QuidelOrtho by 52.6% during the 2nd quarter. New Century Advisors LLC now owns 351 shares of the company worth $34,000 after purchasing an additional 121 shares during the period. 87.20% of the shares are held by institutional investors and hedge funds.

Company Profile QuidelOrtho

(Get an assessment)

QuidelOrtho Corporation is focused on developing and manufacturing diagnostic testing technologies across the continuum of healthcare testing needs. 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 body fluids for health assessment and clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins when they act as antigens in the spread of disease, antibodies in the immune response caused by disease, or markers of the proper functioning and health of a an organ ; testing products to detect and monitor disease progression in a range of therapeutic areas; and specialized diagnostic solutions.

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