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

QuidelOrtho Corporation (NASDAQ:QDEL) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $38.20.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, November 7th. Zacks Research upgraded shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Tuesday. UBS Group lifted their price target on shares of QuidelOrtho from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuidelOrtho in a research report on Wednesday, October 8th. Finally, Citigroup reissued 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.

QuidelOrtho Stock Down 6.2%

QDEL opened at $33.20 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.98 and a current ratio of 1.78. The company has a market capitalization of $2.26 billion, a PE ratio of -1.95 and a beta of 0.59. The stock’s fifty day moving average is $27.98 and its 200-day moving average is $27.70. QuidelOrtho has a one year low of $19.50 and a one year high of $46.24.

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 firm had revenue of $699.90 million for the quarter, compared to analyst estimates of $667.45 million. During the same period in the previous year, the company earned $0.85 earnings per share. QuidelOrtho’s revenue was down 3.7% compared to the same quarter last year. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. On average, equities analysts predict that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Joseph M. Busky purchased 4,770 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average price of $26.06 per share, with a total value of $124,306.20. Following the purchase, the chief financial officer owned 6,920 shares of the company’s stock, valued at $180,335.20. This trade represents a 221.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian J. Blaser acquired 23,500 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $21.34 per share, for a total transaction of $501,490.00. Following the acquisition, the chief executive officer owned 29,533 shares in the company, valued at approximately $630,234.22. This trade represents a 389.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 29,390 shares of company stock valued at $657,340 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuidelOrtho

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its position in QuidelOrtho by 87.0% during the 3rd quarter. Invesco Ltd. now owns 2,906,763 shares of the company’s stock worth $85,604,000 after purchasing an additional 1,352,503 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of QuidelOrtho by 14.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,859,455 shares of the company’s stock worth $84,208,000 after buying an additional 350,636 shares during the period. State Street Corp boosted its position in shares of QuidelOrtho by 23.3% in 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 during the period. Newtyn Management LLC grew its holdings in shares of QuidelOrtho by 58.3% during the third quarter. Newtyn Management LLC now owns 2,700,000 shares of the company’s stock valued at $79,515,000 after buying an additional 994,332 shares in the last quarter. Finally, American Century Companies Inc. raised its position in QuidelOrtho by 10.4% during the third quarter. American Century Companies Inc. now owns 2,115,557 shares of the company’s stock valued at $62,303,000 after buying an additional 199,909 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.