QuidelOrtho (NASDAQ:QDEL) Given Market Perform Rating at William Blair

William Blair restated their market perform rating on shares of QuidelOrtho (NASDAQ:QDEL) in a research note published on Wednesday,RTT News reports.

Several other equities research analysts also recently issued reports on the company. UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They set a “neutral” rating and a $50.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. Finally, Craig Hallum raised QuidelOrtho from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $57.00 in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, QuidelOrtho presently has a consensus rating of “Hold” and an average target price of $58.83.

QuidelOrtho Stock Down 2.9 %

QDEL opened at $37.48 on Wednesday. QuidelOrtho has a 52-week low of $29.74 and a 52-week high of $75.86. The company has a 50 day moving average of $41.77 and a two-hundred day moving average of $40.39. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last announced its earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The company had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $642.16 million. During the same period last year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts predict that QuidelOrtho will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors have recently modified their holdings of the business. Texas Permanent School Fund Corp lifted its position in shares of QuidelOrtho by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company’s stock worth $1,446,000 after purchasing an additional 257 shares in the last quarter. Balanced Rock Investment Advisors LLC raised its position in QuidelOrtho by 5.1% during the second quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company’s stock worth $225,000 after acquiring an additional 329 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after purchasing an additional 378 shares during the last quarter. Algert Global LLC grew its stake in shares of QuidelOrtho by 1.0% in the second quarter. Algert Global LLC now owns 46,846 shares of the company’s stock valued at $1,556,000 after acquiring an additional 450 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its position in QuidelOrtho by 2.9% during the third quarter. Hunter Perkins Capital Management LLC now owns 18,588 shares of the company’s stock worth $848,000 after purchasing an additional 530 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

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.