Brokerages Set QuidelOrtho Corporation (NASDAQ:QDEL) PT at $13.62

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) have received a consensus recommendation of “Reduce” from the six research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.6250.

Several research analysts have recently weighed in on QDEL shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a report on Friday, July 17th. Citigroup boosted their target price on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, UBS Group reaffirmed a “neutral” rating and set a $12.00 price target on shares of QuidelOrtho in a research note on Thursday, May 7th.

QuidelOrtho Stock Performance

QuidelOrtho stock opened at $17.58 on Wednesday. The firm has a market capitalization of $1.20 billion, a P/E ratio of -0.99 and a beta of 0.68. The stock has a fifty day moving average price of $15.60 and a 200 day moving average price of $17.83. QuidelOrtho has a 52 week low of $9.92 and a 52 week high of $35.58. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.41). The business had revenue of $619.80 million for the quarter, compared to analysts’ expectations of $665.23 million. QuidelOrtho had a positive return on equity of 4.25% and a negative net margin of 45.57%.The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. Equities research analysts anticipate that QuidelOrtho will post 1.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its holdings in QuidelOrtho by 3,691.7% in the fourth quarter. Global Retirement Partners LLC now owns 910 shares of the company’s stock valued at $26,000 after acquiring an additional 886 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in QuidelOrtho during the fourth quarter worth about $29,000. Hantz Financial Services Inc. increased its stake in QuidelOrtho by 50.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,082 shares of the company’s stock worth $31,000 after acquiring an additional 362 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of QuidelOrtho by 67.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,185 shares of the company’s stock worth $38,000 after purchasing an additional 882 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of QuidelOrtho by 322.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the company’s stock worth $39,000 after purchasing an additional 1,015 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Company Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.