QuidelOrtho (NASDAQ:QDEL) Price Target Cut to $22.00 by Analysts at JPMorgan Chase & Co.

QuidelOrtho (NASDAQ:QDEL) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $26.00 to $22.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 8.11% from the stock’s current price.

Several other brokerages also recently commented on QDEL. UBS Group boosted their target price on QuidelOrtho from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday. Zacks Research downgraded shares of QuidelOrtho from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Citigroup restated a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, QuidelOrtho currently has a consensus rating of “Reduce” and a consensus target price of $38.20.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock traded down $0.91 during trading on Friday, hitting $20.35. 3,299,466 shares of the stock were exchanged, compared to its average volume of 1,328,476. QuidelOrtho has a 1-year low of $20.10 and a 1-year high of $49.45. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.11 and a beta of 0.35. The company has a fifty day moving average price of $28.31 and a 200-day moving average price of $28.41. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The business had revenue of $699.90 million for the quarter, compared to analyst estimates of $667.45 million. During the same quarter in the prior year, the business earned $0.85 EPS. QuidelOrtho’s quarterly revenue was down 3.7% on a year-over-year basis. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, equities analysts predict that QuidelOrtho will post 2.3 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in shares of QuidelOrtho in the first quarter valued at about $344,000. Principal Financial Group Inc. grew its holdings in shares of QuidelOrtho by 2.4% in the first quarter. Principal Financial Group Inc. now owns 326,996 shares of the company’s stock valued at $11,435,000 after purchasing an additional 7,788 shares during the period. Cerity Partners LLC raised its position in shares of QuidelOrtho by 222.4% during the 1st quarter. Cerity Partners LLC now owns 90,808 shares of the company’s stock valued at $3,176,000 after buying an additional 62,644 shares during the period. New York State Common Retirement Fund raised its position in QuidelOrtho by 25.4% in the first quarter. New York State Common Retirement Fund now owns 42,845 shares of the company’s stock valued at $1,498,000 after purchasing an additional 8,689 shares during the period. Finally, CWM LLC lifted its position in QuidelOrtho by 159.1% in the first quarter. CWM LLC now owns 87,966 shares of the company’s stock valued at $3,076,000 after buying an additional 54,017 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

About QuidelOrtho

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.