QuidelOrtho (NASDAQ:QDEL) Given New $31.00 Price Target at UBS Group

QuidelOrtho (NASDAQ:QDEL) had its price objective lifted by UBS Group from $26.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently commented on QDEL. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Wall Street Zen lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research downgraded shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Citigroup reissued a “neutral” rating and issued a $33.00 price target (down previously from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $38.20.

QuidelOrtho Stock Performance

QuidelOrtho stock traded down $0.91 during mid-day trading on Thursday, reaching $20.35. The company had a trading volume of 3,301,351 shares, compared to its average volume of 1,331,805. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -3.11 and a beta of 0.35. The company has a 50 day moving average of $28.31 and a 200-day moving average of $28.41. QuidelOrtho has a 52 week low of $20.10 and a 52 week high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The business had revenue of $699.90 million during the quarter, compared to analyst estimates of $667.45 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. On average, sell-side analysts expect that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors and hedge funds have recently made changes to their positions in QDEL. Salomon & Ludwin LLC grew its holdings in shares of QuidelOrtho by 100.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock worth $30,000 after purchasing an additional 496 shares during the last quarter. Allworth Financial LP boosted its position in QuidelOrtho by 2,460.9% in the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock valued at $34,000 after buying an additional 1,132 shares in the last quarter. Summit Securities Group LLC acquired a new position in QuidelOrtho in the first quarter valued at about $36,000. Nisa Investment Advisors LLC grew its stake in QuidelOrtho by 118.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after buying an additional 693 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after buying an additional 460 shares in the last quarter. 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.