QuidelOrtho (NASDAQ:QDEL) Given Sell Rating at UBS Group

UBS Group reissued their sell rating on shares of QuidelOrtho (NASDAQ:QDELFree Report) in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has a $42.00 target price on the stock, down from their prior target price of $70.00.

QDEL has been the subject of a number of other research reports. Craig Hallum reiterated a hold rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Royal Bank of Canada lowered their price objective on QuidelOrtho from $130.00 to $81.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. JPMorgan Chase & Co. cut QuidelOrtho from a neutral rating to an underweight rating and lowered their price objective for the company from $66.00 to $37.00 in a research note on Wednesday, February 14th. Citigroup reissued a neutral rating and issued a $72.00 target price (down previously from $95.00) on shares of QuidelOrtho in a report on Monday, December 11th. Finally, William Blair reaffirmed a market perform rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, QuidelOrtho currently has an average rating of Hold and a consensus target price of $61.60.

Read Our Latest Stock Analysis on QuidelOrtho

QuidelOrtho Stock Down 2.6 %

QDEL opened at $44.33 on Monday. The stock’s 50 day simple moving average is $64.04 and its 200 day simple moving average is $68.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57. QuidelOrtho has a 1 year low of $41.75 and a 1 year high of $98.67.

QuidelOrtho (NASDAQ:QDELGet Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The business had revenue of $742.60 million during the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. QuidelOrtho’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. As a group, sell-side analysts anticipate that QuidelOrtho will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at QuidelOrtho

In related news, CFO Joseph M. Busky purchased 2,150 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was acquired at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the acquisition, the chief financial officer now owns 2,150 shares of the company’s stock, valued at approximately $99,652.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuidelOrtho

Large investors have recently made changes to their positions in the business. LSV Asset Management lifted its position in shares of QuidelOrtho by 217.4% in the third quarter. LSV Asset Management now owns 737,395 shares of the company’s stock valued at $53,859,000 after acquiring an additional 505,050 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of QuidelOrtho in the third quarter worth about $410,000. Raymond James & Associates lifted its position in shares of QuidelOrtho by 45.8% in the third quarter. Raymond James & Associates now owns 46,300 shares of the company’s stock worth $3,382,000 after buying an additional 14,537 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of QuidelOrtho by 41.1% in the third quarter. First Eagle Investment Management LLC now owns 163,567 shares of the company’s stock worth $11,947,000 after buying an additional 47,661 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of QuidelOrtho by 14.1% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 206,919 shares of the company’s stock worth $15,113,000 after buying an additional 25,590 shares in the last quarter. 93.87% of the stock is currently owned by hedge funds and other institutional investors.

About QuidelOrtho

(Get Free Report)

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.

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Analyst Recommendations for QuidelOrtho (NASDAQ:QDEL)

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