QuidelOrtho (NASDAQ:QDEL) Reaches New 1-Year Low – What’s Next?

QuidelOrtho Co. (NASDAQ:QDEL) shares hit a new 52-week low on Friday . The company traded as low as $28.48 and last traded at $28.43, with a volume of 391036 shares changing hands. The stock had previously closed at $32.49.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Royal Bank of Canada reduced their price objective on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. UBS Group lifted their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. Finally, Jefferies Financial Group began coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.20.

QuidelOrtho Stock Performance

The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $39.06 and a two-hundred day moving average of $40.98. The company has a market capitalization of $1.90 billion, a PE ratio of -0.93 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. Research analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current year.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors have recently modified their holdings of the business. Quarry LP acquired a new position in QuidelOrtho in the 4th quarter worth about $43,000. True Wealth Design LLC increased its position in shares of QuidelOrtho by 300.7% in the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after buying an additional 806 shares in the last quarter. Blue Trust Inc. raised its stake in shares of QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after buying an additional 844 shares during the period. Spire Wealth Management purchased a new position in shares of QuidelOrtho during the 4th quarter valued at approximately $74,000. Finally, KBC Group NV grew its stake in QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after acquiring an additional 1,895 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

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.