Market Analysts see QuidelOrtho Corporation [QDEL] gaining to $125. Time to buy?

QuidelOrtho Corporation [NASDAQ: QDEL] traded at a high on 09/01/23, posting a 1.54 gain after which it closed the day’ session at $83.63. The company report on August 28, 2023 at 4:05 PM that QuidelOrtho to Participate in the Morgan Stanley 21st Annual Global Healthcare Conference.

QuidelOrtho Corporation (Nasdaq: QDEL) (“QuidelOrtho”), a global provider of innovative in vitro diagnostics technologies designed for point-of-care settings, clinical labs and transfusion medicine, announced today that members of its management team are scheduled to participate in the Morgan Stanley 21st Annual Global Healthcare Conference in New York on September 12, 2023.

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Douglas Bryant, President and Chief Executive Officer, and Joseph Busky, Chief Financial Officer, will participate in a fireside chat scheduled for 2:55 p.m. ET / 11:55 a.m. PT.

The results of the trading session contributed to over 450703 shares changing hands. Over the past one week, the price volatility of QuidelOrtho Corporation stands at 2.85% while the volatility over the past one month is 3.24%.

The market cap for QDEL stock reached $5.50 billion, with 66.80 million shares outstanding and 49.58 million shares in the current float. Compared to the average trading volume of 463.07K shares, QDEL reached a trading volume of 450703 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about QuidelOrtho Corporation [QDEL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QDEL shares is $118.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QDEL stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for QuidelOrtho Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 12, 2022.

The Average True Range (ATR) for QuidelOrtho Corporation is set at 2.50, with the Price to Sales ratio for QDEL stock in the period of the last 12 months amounting to 1.74. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 3.40. Price to Free Cash Flow for QDEL in the course of the last twelve months was 50.70 with Quick ratio for the last quarter at 1.00.

How has QDEL stock performed recently?

QuidelOrtho Corporation [QDEL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.46. With this latest performance, QDEL shares gained by 0.76% in over the last four-week period, additionally sinking by -5.32% over the last 6 months – not to mention a rise of 5.51% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QDEL stock in for the last two-week period is set at 57.18, with the RSI for the last a single of trading hit 62.81, and the three-weeks RSI is set at 53.95 for QuidelOrtho Corporation [QDEL]. The present Moving Average for the last 50 days of trading for this stock 82.30, while it was recorded at 81.62 for the last single week of trading, and 86.28 for the last 200 days.

QuidelOrtho Corporation [QDEL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and QuidelOrtho Corporation [QDEL] shares currently have an operating margin of +29.95 and a Gross Margin at +50.57. QuidelOrtho Corporation’s Net Margin is presently recorded at +16.82.

Return on Total Capital for QDEL is now 19.84, given the latest momentum, and Return on Invested Capital for the company is 11.42. Return on Equity for this stock inclined to 15.99, with Return on Assets sitting at 9.66. When it comes to the capital structure of this company, QuidelOrtho Corporation [QDEL] has a Total Debt to Total Equity ratio set at 57.74. Additionally, QDEL Total Debt to Total Capital is recorded at 36.60, with Total Debt to Total Assets ending up at 32.17. Long-Term Debt to Equity for the company is recorded at 53.04, with the Long-Term Debt to Total Capital now at 33.62.

Reflecting on the efficiency of the workforce at the company, QuidelOrtho Corporation [QDEL] managed to generate an average of $78,386 per employee. Receivables Turnover for the company is 6.66 with a Total Asset Turnover recorded at a value of 0.57.QuidelOrtho Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.70.

Earnings analysis for QuidelOrtho Corporation [QDEL]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QDEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for QuidelOrtho Corporation go to 7.20%.

Insider trade positions for QuidelOrtho Corporation [QDEL]

The top three institutional holders of QDEL stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in QDEL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in QDEL stock with ownership which is approximately 5.7381%.

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