Brokerages Set QuidelOrtho Co. (NASDAQ:QDEL) Target Price at $51.20

QuidelOrtho Co. (NASDAQ:QDEL) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $51.20.

A number of research analysts recently issued reports on QDEL shares. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Jefferies Financial Group began coverage on QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price target on the stock. UBS Group upped their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th.

Insider Activity at QuidelOrtho

In related news, CEO Brian J. Blaser purchased 6,033 shares of QuidelOrtho stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $41.42 per share, with a total value of $249,886.86. Following the completion of the transaction, the chief executive officer now directly owns 6,033 shares of the company’s stock, valued at $249,886.86. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuidelOrtho

Several hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning bought a new position in QuidelOrtho in the third quarter valued at about $476,000. Allspring Global Investments Holdings LLC increased its position in shares of QuidelOrtho by 970.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,661 shares of the company’s stock worth $349,000 after buying an additional 6,945 shares during the period. Everence Capital Management Inc. acquired a new stake in QuidelOrtho during the 3rd quarter worth about $388,000. Greenleaf Trust bought a new stake in QuidelOrtho in the third quarter worth approximately $268,000. Finally, International Assets Investment Management LLC increased its stake in shares of QuidelOrtho by 4,460.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock valued at $208,000 after acquiring an additional 4,460 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Down 1.4 %

QDEL opened at $40.46 on Wednesday. The firm has a market cap of $2.72 billion, a P/E ratio of -1.34 and a beta of 0.08. The business’s fifty day simple moving average is $43.45 and its 200 day simple moving average is $42.40. QuidelOrtho has a 52 week low of $29.74 and a 52 week high of $49.45. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 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%. As a group, equities research analysts anticipate that QuidelOrtho will post 2.3 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.