QuidelOrtho Co. (NASDAQ:QDEL) Receives Consensus Rating of “Hold” from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $57.60.

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of QuidelOrtho in a research report on Friday, August 16th.

Insider Buying and Selling at QuidelOrtho

In other news, major shareholder Carlyle Group Inc. sold 24,390 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $30.09, for a total value of $733,895.10. Following the sale, the insider now owns 11,141,580 shares in the company, valued at $335,250,142.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 2,261,559 shares of company stock worth $82,700,460. Company insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

A number of hedge funds have recently modified their holdings of QDEL. Vanguard Group Inc. lifted its holdings in QuidelOrtho by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,879,143 shares of the company’s stock valued at $233,906,000 after acquiring an additional 37,733 shares during the period. Rubric Capital Management LP increased its holdings in shares of QuidelOrtho by 51.9% during the 2nd quarter. Rubric Capital Management LP now owns 3,645,590 shares of the company’s stock valued at $121,106,000 after purchasing an additional 1,245,590 shares in the last quarter. Maverick Capital Ltd. lifted its stake in shares of QuidelOrtho by 27.5% in the 2nd quarter. Maverick Capital Ltd. now owns 1,728,913 shares of the company’s stock valued at $57,434,000 after purchasing an additional 372,662 shares during the period. Dimensional Fund Advisors LP boosted its holdings in QuidelOrtho by 144.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 908,554 shares of the company’s stock worth $66,961,000 after buying an additional 536,492 shares in the last quarter. Finally, LSV Asset Management grew its position in QuidelOrtho by 5.3% during the fourth quarter. LSV Asset Management now owns 776,674 shares of the company’s stock valued at $57,241,000 after buying an additional 39,279 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $40.99 on Wednesday. QuidelOrtho has a fifty-two week low of $29.74 and a fifty-two week high of $83.37. The company has a market cap of $2.75 billion, a PE ratio of -1.55 and a beta of 0.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.79 and a current ratio of 1.44. The business has a 50-day simple moving average of $38.23 and a two-hundred day simple moving average of $41.28.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, July 31st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. QuidelOrtho had a negative net margin of 65.60% and a positive return on equity of 3.87%. The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $613.51 million. During the same period last year, the business earned $0.26 EPS. QuidelOrtho’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts expect that QuidelOrtho will post 1.77 EPS for the current fiscal year.

About QuidelOrtho

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.