QuidelOrtho Corporation (NASDAQ:QDEL) Stock Has Average Price Target of $13.62 According to Brokerages

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) have been given a consensus rating of “Reduce” by the six analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.62.

A number of analysts have recently issued reports on QDEL shares. Zacks Research upgraded QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Thursday, October 15th.

Institutional Investors Weigh In On QuidelOrtho

Several institutional investors have recently bought and sold shares of QDEL. BlackRock Inc. bought a new position in QuidelOrtho during the second quarter worth about $196,212,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of QuidelOrtho during the second quarter worth $44,168,000. Newtyn Management LLC lifted its stake in shares of QuidelOrtho by 45.3% in the 2nd quarter. Newtyn Management LLC now owns 6,625,000 shares of the company’s stock valued at $116,037,000 after purchasing an additional 2,066,528 shares during the period. Rice Hall James & Associates LLC bought a new position in QuidelOrtho during the second quarter worth $18,628,000. Finally, Private Management Group Inc. increased its stake in QuidelOrtho by 49.5% during the 2nd quarter. Private Management Group Inc. now owns 2,070,391 shares of the company’s stock valued at $36,263,000 after purchasing an additional 685,622 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Down 4.7%

Shares of QDEL opened at $11.52 on Friday. The company’s 50-day simple moving average is $12.48 and its 200-day simple moving average is $15.77. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.75 and a current ratio of 1.36. QuidelOrtho has a 1 year low of $9.92 and a 1 year high of $35.58. The stock has a market capitalization of $790.39 million, a PE ratio of 14.06 and a beta of 0.77.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Tuesday, November 3rd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. QuidelOrtho had a positive return on equity of 3.22% and a negative net margin of 14.24%. The company had revenue of $618.90 million for the quarter, compared to the consensus estimate of $627.83 million. During the same period in the previous year, the business earned $0.80 earnings per share. QuidelOrtho’s quarterly revenue was down 11.6% compared to the same quarter last year. Analysts forecast that QuidelOrtho will post 0.66 earnings per share for the current fiscal year.

QuidelOrtho Company Profile

QuidelOrtho Corporation develops and manufactures diagnostic testing products used in healthcare settings. Its offerings include tests and instruments for immunoassay, molecular diagnostics, clinical chemistry, and transfusion medicine, as well as rapid tests designed for point-of-care use. The company serves hospitals, clinical laboratories, blood banks, physician offices, and other healthcare providers. Its product lines include the VITROS clinical laboratory systems, ORTHO VISION blood-bank analyzers, and Sofia rapid diagnostic platforms.