QuidelOrtho (NASDAQ:QDEL) Upgraded at Craig Hallum

Craig Hallum upgraded shares of QuidelOrtho (NASDAQ:QDEL) from a hold rating to a buy rating in a report released on Thursday, Marketbeat reports. They currently have $57.00 price objective on the stock, up from their previous price objective of $40.00.

Separately, Royal Bank of Canada restated an outperform rating and set a $61.00 target price on shares of QuidelOrtho in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $57.50.

QuidelOrtho Stock Down 2.4 %

Shares of QDEL stock opened at $43.45 on Thursday. The firm’s fifty day moving average price is $38.79 and its two-hundred day moving average price is $41.31. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. QuidelOrtho has a 1 year low of $29.74 and a 1 year high of $77.86. The firm has a market capitalization of $2.91 billion, a P/E ratio of -1.65 and a beta of 0.08.

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

Insider Buying and Selling at QuidelOrtho

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 127,981 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $36.19, for a total value of $4,631,632.39. Following the transaction, the insider now directly owns 12,123,705 shares in the company, valued at $438,756,883.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 2,261,559 shares of company stock valued at $82,700,460 in the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors have recently made changes to their positions in QDEL. Fifth Third Bancorp lifted its holdings in QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after purchasing an additional 744 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of QuidelOrtho in the first quarter valued at about $86,000. Innealta Capital LLC acquired a new position in shares of QuidelOrtho in the second quarter valued at about $102,000. Finally, Quest Partners LLC increased its position in QuidelOrtho by 17,095.0% during the second quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock worth $114,000 after acquiring an additional 3,419 shares during the period. Institutional investors 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.