QuidelOrtho Corporation (NASDAQ:QDEL) shares traded -5.08% lower at $86.16 on Wall Street last session.
In accordance with the data, 8 analysts cover QuidelOrtho Corporation (NASDAQ:QDEL). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $173.00 and a low of $90.00, we find $125.00. Given the previous closing price of $90.77, this indicates a potential upside of 37.71 percent. QDEL stock price is now -2.43% away from the 50-day moving average and -6.94% away from the 200-day moving average. The market capitalization of the company currently stands at $5.56B.
It has been rated a hold by 3 analysts and a buy by 5. Brokers who have rated the stock have averaged $119.29 as their price target over the next twelve months.
With the price target enhanced from $90 to $125, Citigroup Upgraded its rating from Neutral to Buy for QuidelOrtho Corporation (NASDAQ: QDEL). On December 07, 2022, RBC Capital Mkts recently initiated its ‘Outperform’ rating on the stock quoting a target price of $125, while ‘UBS’ rates the stock as ‘Neutral’.
In other news, POLAN MARY LAKE PH D, Director sold 1,525 shares of the company’s stock on Mar 18. The stock was sold for $173,227 at an average price of $113.59. Upon completion of the transaction, the Director now directly owns 18,162 shares in the company, valued at $1.56 million. Insiders disposed of 800,124 shares of company stock worth roughly $68.94 million over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in QDEL stock. A new stake in QuidelOrtho Corporation shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $546,745,000. CAMBER CAPITAL MANAGEMENT LP invested $51,696,000 in shares of QDEL during the first quarter. In the first quarter, KEMPEN CAPITAL MANAGEMENT N.V. acquired a new stake in QuidelOrtho Corporation valued at approximately $47,306,000. WELLINGTON MANAGEMENT GROUP LLP acquired a new stake in QDEL for approximately $45,276,000. JUPITER ASSET MANAGEMENT LTD purchased a new stake in QDEL valued at around $9,643,000 in the second quarter. In total, there are 486 active investors with 97.30% ownership of the company’s stock.
QuidelOrtho Corporation (NASDAQ: QDEL) opened at $92.33 on Monday. During the past 12 months, QuidelOrtho Corporation has had a low of $66.88 and a high of $131.88. As of last week, the company has a debt-to-equity ratio of 0.56, a current ratio of 1.70, and a quick ratio of 1.00. The fifty day moving average price for QDEL is $88.30 and a two-hundred day moving average price translates $92.45 for the stock.
The latest earnings results from QuidelOrtho Corporation (NASDAQ: QDEL) was released for Jul, 2022. According to the Diagnostics & Research Company, earnings per share came in at $2.34, missing analysts’ expectations of $2.79 by -0.45. This compares to $5.08 EPS in the same period last year. The net profit margin was 26.70% and return on equity was 23.00% for QDEL. The company reported revenue of $783.8 million for the quarter, compared to $509.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 53.75 percent. For the current quarter, analysts expect QDEL to generate $719.6M in revenue.
QuidelOrtho Corporation(QDEL) Company Profile
QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies across the continuum of healthcare testing needs. 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. The Transfusion Medicine business unit offers immunohematology instruments and tests used for blood typing to ensure patient-donor compatibility in blood transfusions; and donor screening instruments and tests used for blood and plasma screening for infectious diseases. The Point-of-Care business unit provides tests to provide rapid results across a continuum of point-of-care settings. The Molecular Diagnostics business unit offers polymerase chain reaction thermocyclers; and analyzers and amplification systems. The company sells its products directly to end users through a direct sales force; and through a network of distributors for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, urgent care clinics, universities, retail clinics, pharmacies, wellness screening centers, blood banks, and donor centers, as well as for individual, non-professional, and over-the-counter use. It operates in North America, Europe, the Middle East, Africa, China, and internationally. The company was founded in 1979 and is headquartered in San Diego, California.