QuidelOrtho Co. (NASDAQ:QDEL) Given Consensus Rating of “Moderate Buy” by Brokerages

QuidelOrtho Co. (NASDAQ:QDEL) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $51.20.

QDEL has been the topic of several research reports. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. UBS Group raised their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their target price on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th.

QuidelOrtho Trading Down 4.9 %

QuidelOrtho stock opened at $25.27 on Thursday. QuidelOrtho has a one year low of $24.85 and a one year high of $49.45. The stock has a market cap of $1.70 billion, a PE ratio of -0.83 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The stock has a 50-day moving average of $35.77 and a two-hundred day moving average of $39.79.

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

Institutional Trading of QuidelOrtho

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

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.