QuidelOrtho (NASDAQ:QDEL) Given New $45.00 Price Target at UBS Group

QuidelOrtho (NASDAQ:QDEL) had its price objective hoisted by UBS Group from $43.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 8.63% from the company’s previous close.

Other research analysts have also issued reports about the company. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Jefferies Financial Group began coverage on QuidelOrtho in a research report on Tuesday, December 10th. They set a “hold” rating and a $43.00 target price on the stock. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. Finally, StockNews.com upgraded QuidelOrtho from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, QuidelOrtho currently has a consensus rating of “Hold” and an average target price of $52.71.

QuidelOrtho Trading Up 3.7 %

Shares of QDEL stock traded up $1.49 during trading hours on Thursday, hitting $41.43. 324,626 shares of the company’s stock traded hands, compared to its average volume of 869,007. The stock’s 50 day simple moving average is $43.28 and its 200 day simple moving average is $42.35. The stock has a market cap of $2.79 billion, a PE ratio of -1.48 and a beta of 0.08. QuidelOrtho has a 12 month low of $29.74 and a 12 month high of $49.56. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. On average, sell-side analysts anticipate that QuidelOrtho will post 1.73 EPS for the current year.

Insiders Place Their Bets

In other QuidelOrtho news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian J. Blaser purchased 6,033 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the acquisition, the chief executive officer now owns 6,033 shares of the company’s stock, valued at approximately $249,886.86. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of QuidelOrtho

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of QuidelOrtho in the third quarter worth approximately $25,000. Blue Trust Inc. raised its stake in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after purchasing an additional 844 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of QuidelOrtho in the fourth quarter worth approximately $74,000. KBC Group NV raised its stake in shares of QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after purchasing an additional 1,895 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of QuidelOrtho by 4,460.0% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock worth $208,000 after purchasing an additional 4,460 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

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.