QuidelOrtho Co. (NASDAQ:QDEL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of QuidelOrtho Co. (NASDAQ:QDEL) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $44.33.

QDEL has been the topic of several recent analyst reports. Jefferies Financial Group raised QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Thursday. Royal Bank of Canada dropped their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. UBS Group reduced their price target on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a report on Monday, April 21st. Finally, StockNews.com cut QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QDEL. T. Rowe Price Investment Management Inc. raised its stake in shares of QuidelOrtho by 19.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,238,826 shares of the company’s stock valued at $500,690,000 after acquiring an additional 1,840,667 shares in the last quarter. Vanguard Group Inc. raised its position in QuidelOrtho by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company’s stock valued at $303,716,000 after purchasing an additional 764,900 shares in the last quarter. Invesco Ltd. boosted its stake in shares of QuidelOrtho by 71.7% in the 4th quarter. Invesco Ltd. now owns 3,447,446 shares of the company’s stock valued at $153,584,000 after buying an additional 1,439,293 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of QuidelOrtho by 5.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,977,697 shares of the company’s stock valued at $88,106,000 after buying an additional 100,522 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of QuidelOrtho by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company’s stock worth $62,666,000 after buying an additional 173,174 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Trading Down 0.4%

Shares of QDEL opened at $36.30 on Monday. QuidelOrtho has a 12-month low of $23.77 and a 12-month high of $49.45. The firm has a market capitalization of $2.45 billion, a P/E ratio of -1.20 and a beta of 0.13. The firm has a 50-day moving average price of $31.41 and a 200 day moving average price of $38.14. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.13. The business had revenue of $692.80 million during the quarter, compared to analysts’ expectations of $694.97 million. QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 EPS. Sell-side analysts forecast that QuidelOrtho will post 2.3 EPS for the current year.

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.