Brokerages Set QuidelOrtho Corporation (NASDAQ:QDEL) PT at $38.20

QuidelOrtho Corporation (NASDAQ:QDEL) has been assigned an average rating of “Reduce” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $38.20.

Several brokerages recently weighed in on QDEL. JPMorgan Chase & Co. decreased their price objective on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. UBS Group boosted their price target on shares of QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Zacks Research cut shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Citigroup reiterated a “neutral” rating and issued a $33.00 price objective (down from $40.00) on shares of QuidelOrtho in a research note on Tuesday, October 7th.

QuidelOrtho Price Performance

QuidelOrtho stock opened at $28.32 on Tuesday. The business’s 50 day simple moving average is $26.45 and its 200 day simple moving average is $27.44. QuidelOrtho has a 12 month low of $19.50 and a 12 month high of $49.45. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -1.66 and a beta of 0.58. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 1.23.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.29. QuidelOrtho had a positive return on equity of 5.75% and a negative net margin of 42.53%.The business had revenue of $699.90 million during the quarter, compared to the consensus estimate of $667.45 million. During the same period last year, the business posted $0.85 earnings per share. The business’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. Sell-side analysts forecast that QuidelOrtho will post 2.3 EPS for the current year.

Insider Buying and Selling at QuidelOrtho

In related news, CFO Joseph M. Busky purchased 4,770 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were purchased at an average cost of $26.06 per share, for a total transaction of $124,306.20. Following the completion of the transaction, the chief financial officer directly owned 6,920 shares in the company, valued at approximately $180,335.20. This represents a 221.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian J. Blaser purchased 23,500 shares of the stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average cost of $21.34 per share, for a total transaction of $501,490.00. Following the completion of the acquisition, the chief executive officer owned 29,533 shares of the company’s stock, valued at approximately $630,234.22. This represents a 389.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 29,390 shares of company stock valued at $657,340. 0.79% of the stock is owned by company insiders.

Institutional Trading of QuidelOrtho

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings in QuidelOrtho by 1.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,447,188 shares of the company’s stock valued at $400,309,000 after purchasing an additional 208,362 shares during the period. Invesco Ltd. raised its position in shares of QuidelOrtho by 87.0% in the third quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock worth $85,604,000 after buying an additional 1,352,503 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in QuidelOrtho by 14.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,859,455 shares of the company’s stock valued at $84,208,000 after buying an additional 350,636 shares during the period. State Street Corp grew its position in QuidelOrtho by 23.3% during the second quarter. State Street Corp now owns 2,700,940 shares of the company’s stock worth $77,841,000 after buying an additional 510,291 shares in the last quarter. Finally, Newtyn Management LLC grew its position in QuidelOrtho by 58.3% during the third quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock worth $79,515,000 after buying an additional 994,332 shares in the last quarter. 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.