QuidelOrtho (NASDAQ:QDEL) Shares Gap Down – Should You Sell?

QuidelOrtho Co. (NASDAQ:QDEL)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $36.51, but opened at $35.21. QuidelOrtho shares last traded at $35.97, with a volume of 16,958 shares trading hands.

Analysts Set New Price Targets

QDEL has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group started coverage on QuidelOrtho in a report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target on the stock. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. UBS Group boosted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.20.

QuidelOrtho Trading Down 1.7 %

The company has a market cap of $2.42 billion, a P/E ratio of -1.18 and a beta of 0.10. The stock has a 50-day moving average of $40.62 and a two-hundred day moving average of $41.65. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, equities research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Institutional Investors Weigh In On QuidelOrtho

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in QuidelOrtho during the 4th quarter valued at $43,000. True Wealth Design LLC boosted its holdings in shares of QuidelOrtho by 300.7% in the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $48,000 after buying an additional 806 shares during the last quarter. Blue Trust Inc. grew its position in QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after buying an additional 844 shares during the period. Spire Wealth Management bought a new position in QuidelOrtho in the fourth quarter worth approximately $74,000. Finally, KBC Group NV boosted its stake in shares of QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company’s stock worth $153,000 after acquiring an additional 1,895 shares during the last quarter. 99.00% of the stock is currently owned by 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.