QuidelOrtho (NASDAQ:QDEL) Sets New 1-Year Low at $41.60

QuidelOrtho Co. (NASDAQ:QDEL)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $41.60 and last traded at $41.62, with a volume of 288524 shares traded. The stock had previously closed at $42.17.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Craig Hallum reissued a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Raymond James reissued an “outperform” rating and set a $76.00 target price (down previously from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. JPMorgan Chase & Co. downgraded QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. UBS Group reissued a “sell” rating and set a $42.00 price objective (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Finally, William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, QuidelOrtho currently has a consensus rating of “Hold” and an average target price of $61.60.

QuidelOrtho Trading Down 2.6 %

The business has a 50 day simple moving average of $47.63 and a two-hundred day simple moving average of $61.35. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.63 billion, a PE ratio of -251.88 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The firm had revenue of $742.60 million for the quarter, compared to analysts’ expectations of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 EPS. On average, analysts forecast that QuidelOrtho Co. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other QuidelOrtho news, CFO Joseph M. Busky acquired 2,150 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average price of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the purchase, the chief financial officer now directly owns 2,150 shares in the company, valued at $99,652.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

Institutional investors have recently modified their holdings of the company. Money Concepts Capital Corp raised its position in shares of QuidelOrtho by 66.8% during the fourth quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Global Retirement Partners LLC grew its position in QuidelOrtho by 109.0% during the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock valued at $26,000 after purchasing an additional 181 shares in the last quarter. Arizona State Retirement System increased its stake in shares of QuidelOrtho by 1.4% in the third quarter. Arizona State Retirement System now owns 14,229 shares of the company’s stock worth $1,039,000 after acquiring an additional 200 shares during the last quarter. Eagle Bay Advisors LLC raised its stake in shares of QuidelOrtho by 174.2% during the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after purchasing an additional 223 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in QuidelOrtho by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,691 shares of the company’s stock valued at $1,746,000 after acquiring an additional 230 shares during the last quarter. Institutional investors and hedge funds 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.