Equities research analysts at Citigroup began coverage on shares of QuidelOrtho (NASDAQ:QDEL – Get Rating) in a report released on Monday, The Fly reports. The firm set a “neutral” rating on the stock.
A number of other analysts also recently issued reports on QDEL. JPMorgan Chase & Co. began coverage on shares of QuidelOrtho in a report on Friday, June 17th. They issued a “neutral” rating on the stock. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Finally, UBS Group initiated coverage on shares of QuidelOrtho in a report on Wednesday, July 20th. They issued a “sell” rating and a $86.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QuidelOrtho has a consensus rating of “Hold” and an average target price of $98.67.
QuidelOrtho Price Performance
NASDAQ QDEL opened at $81.78 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.73 and a debt-to-equity ratio of 0.51. QuidelOrtho has a 12-month low of $77.32 and a 12-month high of $180.06. The company has a market capitalization of $5.48 billion, a PE ratio of 3.47 and a beta of 0.12. The firm’s 50 day moving average is $90.98 and its 200-day moving average is $98.98.
Hedge Funds Weigh In On QuidelOrtho
A number of institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina boosted its position in QuidelOrtho by 13.7% during the first quarter. Treasurer of the State of North Carolina now owns 15,149 shares of the company’s stock worth $1,704,000 after purchasing an additional 1,820 shares during the period. Nordea Investment Management AB bought a new position in QuidelOrtho during the first quarter worth $5,101,000. HighTower Advisors LLC boosted its position in QuidelOrtho by 4.3% during the fourth quarter. HighTower Advisors LLC now owns 4,541 shares of the company’s stock worth $610,000 after purchasing an additional 187 shares during the period. Hillsdale Investment Management Inc. bought a new position in QuidelOrtho during the first quarter worth $620,000. Finally, Kornitzer Capital Management Inc. KS boosted its position in QuidelOrtho by 13.8% during the first quarter. Kornitzer Capital Management Inc. KS now owns 78,100 shares of the company’s stock worth $8,783,000 after purchasing an additional 9,495 shares during the period. 87.20% of the stock is currently owned by institutional investors and hedge funds.
QuidelOrtho 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.
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