QuidelOrtho Co. (NASDAQ:QDEL) Receives $53.43 Consensus Target Price from Analysts

QuidelOrtho Co. (NASDAQ:QDEL) has been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $53.43.

Several research firms have recently weighed in on QDEL. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a research note on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective on the stock. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Finally, UBS Group initiated coverage on QuidelOrtho in a report on Thursday, September 19th. They issued a “neutral” rating and a $50.00 target price on the stock.

Insider Transactions at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian J. Blaser bought 6,033 shares of the stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $41.42 per share, with a total value of $249,886.86. Following the acquisition, the chief executive officer now directly owns 6,033 shares in the company, valued at approximately $249,886.86. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuidelOrtho

A number of institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in QuidelOrtho in the third quarter valued at about $25,000. GAMMA Investing LLC increased its stake in shares of QuidelOrtho by 73.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,086 shares of the company’s stock valued at $141,000 after acquiring an additional 1,308 shares during the last quarter. Quest Partners LLC raised its position in shares of QuidelOrtho by 17,095.0% in the 2nd quarter. Quest Partners LLC now owns 3,439 shares of the company’s stock valued at $114,000 after acquiring an additional 3,419 shares during the period. International Assets Investment Management LLC boosted its stake in QuidelOrtho by 4,460.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock worth $208,000 after acquiring an additional 4,460 shares during the last quarter. Finally, Unison Advisors LLC acquired a new position in QuidelOrtho during the third quarter valued at approximately $222,000. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Stock Up 3.6 %

Shares of QDEL opened at $46.66 on Tuesday. QuidelOrtho has a 12 month low of $29.74 and a 12 month high of $75.09. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -1.67 and a beta of 0.08. The company has a 50-day moving average price of $41.11 and a two-hundred day moving average price of $40.36. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.30 by $0.55. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The business had revenue of $727.00 million for the quarter, compared to analyst estimates of $642.16 million. During the same quarter in the previous year, the firm earned $0.90 EPS. QuidelOrtho’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts predict that QuidelOrtho will post 1.73 EPS for the current fiscal year.

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.