QuidelOrtho (NASDAQ:QDEL) Price Target Lowered to $22.00 at JPMorgan Chase & Co.

QuidelOrtho (NASDAQ:QDEL) had its target price lowered by JPMorgan Chase & Co. from $26.00 to $22.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Zacks Research lowered shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. UBS Group raised their price objective on shares of QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a report on Wednesday, October 8th. Wall Street Zen lowered QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Citigroup restated a “neutral” rating and set a $33.00 price objective (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, QuidelOrtho currently has an average rating of “Reduce” and an average price target of $38.20.

QuidelOrtho Stock Performance

QDEL stock traded down $0.91 during trading hours on Friday, hitting $20.35. 3,301,351 shares of the stock were exchanged, compared to its average volume of 1,331,805. The company has a 50-day simple moving average of $28.14 and a two-hundred day simple moving average of $28.38. The firm has a market capitalization of $1.38 billion, a P/E ratio of -3.11 and a beta of 0.35. QuidelOrtho has a 12 month low of $20.10 and a 12 month high of $49.45. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QDEL. Salomon & Ludwin LLC grew its holdings in shares of QuidelOrtho by 100.6% in the third quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after purchasing an additional 496 shares in the last quarter. Allworth Financial LP raised its position in shares of QuidelOrtho by 2,460.9% during the 2nd 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 bought a new position in shares of QuidelOrtho in the 1st quarter valued at about $36,000. Nisa Investment Advisors LLC grew its position in QuidelOrtho by 118.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock worth $38,000 after acquiring an additional 693 shares in the last quarter. Finally, Quarry LP increased its stake in QuidelOrtho by 47.1% during the first quarter. Quarry LP now owns 1,436 shares of the company’s stock worth $50,000 after acquiring an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

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.