QuidelOrtho (NASDAQ: QDEL – Get a score) on Friday morning issued an update on its fiscal 2022 earnings guidance. The company provided earnings per share (EPS) guidance of $11.80 to $12.75 for the period. The company issued revenue guidance of $3.78 billion to $3.91 billion, compared to the consensus revenue estimate of $2.83 billion.
Analysts set new price targets
Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. started coverage on QuidelOrtho in a research report on Friday, June 17th. They set a neutral rating on the stock. StockNews.com raised QuidelOrtho from a hold rating to a buy rating in a report on Friday, May 13th. Finally, UBS Group assumed coverage on QuidelOrtho in a report on Wednesday, July 20th. They issued a sell rating and a $86.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Moderate Buy and a consensus price target of $98.67, according to data from MarketBeat.
Performance of QuidelOrtho shares
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Shares of QDEL stock opened at $87.20 on Friday. QuidelOrtho has a one year low of $85.44 and a one year high of $180.06. The company’s 50-day moving average price is $99.15, and its two-hundred-day moving average price is $101.81. The company has a market cap of $5.84 billion, a PE ratio of 3.69 and a beta of 0.03. The company has a current ratio of 1.73, a quick ratio of 0.94, and a debt-to-equity ratio of 0.51.
Hedge funds weigh in on QuidelOrtho
Institutional investors and hedge funds have recently modified their stakes in the business. State Street Corp boosted its holdings in shares of QuidelOrtho by 7.0% in the first quarter. State Street Corp now owns 1,106,702 shares of the company’s stock valued at $124,460,000 after purchasing an additional 72,308 shares during the period. Dimensional Fund Advisors LP boosted its position in QuidelOrtho by 19.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 610,752 shares of the company’s stock valued at $68,686,000 after acquiring an additional 100,810 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in QuidelOrtho by 6.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 317,543 shares of the company’s stock worth $35,711,000 after purchasing an additional 20,034 shares during the period. Renaissance Technologies LLC purchased a new position in QuidelOrtho during the first quarter worth about $34,321,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of QuidelOrtho by 162.9% during the first quarter. Goldman Sachs Group Inc. now owns 274,086 shares of the company’s stock valued at $30,823,000 after purchasing an additional 169,822 shares during the period. Currently, 92.89% of the shares are owned by institutional investors and hedge funds.
QuidelOrtho Corporation offers various in vitro diagnostic products worldwide. The company’s product portfolio covers a range of point-of-care tests for infectious diseases, critical heart health and autoimmune biomarkers, and clinical and home products to detect COVID-19. Provides visual reading lateral flow products in infectious diseases and reproductive health; direct fluorescent antibodies in infectious diseases and virology; micro-title production with a focus on the bone and complement pathway markets; fluorescent immunoassay products; molecular diagnostic products including Savanna, an integrated molecular diagnostic system; integrated immunodiagnostics, clinical chemistry and testing systems to serve diagnostic laboratories of all sizes; immunodiagnostic donor screening systems and services that drive blood safety; pre-transfusion testing that automates the blood bank’s workload with software to standardize operations, simplify tasks and improve productivity; and Ortho Care services and IT products.
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