While QuidelOrtho Corporation has overperformed by 0.90%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, QDEL fell by -52.26%, with highs and lows ranging from $98.67 to $41.75, whereas the simple moving average fell by -38.65% in the last 200 days.
On March 04, 2024, UBS Downgraded QuidelOrtho Corporation (NASDAQ: QDEL) to Sell. A report published by JP Morgan on February 14, 2024, Downgraded its rating to ‘Underweight’ for QDEL. Citigroup also Downgraded QDEL shares as ‘Neutral’, setting a target price of $72 on the company’s shares in a report dated December 11, 2023. Citigroup December 12, 2022d the rating to Buy on December 12, 2022, and set its price target from $90 to $125. RBC Capital Mkts initiated its ‘Outperform’ rating for QDEL, as published in its report on December 07, 2022. UBS’s report from October 14, 2022 suggests a price prediction of $86 for QDEL shares, giving the stock a ‘Neutral’ rating. Citigroup also rated the stock as ‘Neutral’.
Analysis of QuidelOrtho Corporation (QDEL)
Further, the quarter-over-quarter decrease in sales is -14.27%, showing a negative trend in the upcoming months.
One of the most important indicators of QuidelOrtho Corporation’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -0.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.88, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and QDEL is recording 1.05M average volume. On a monthly basis, the volatility of the stock is set at 3.71%, whereas on a weekly basis, it is put at 4.75%, with a loss of -9.51% over the past seven days. Furthermore, long-term investors anticipate a median target price of $57.00, showing growth from the present price of $42.53, which can serve as yet another indication of whether QDEL is worth investing in or should be passed over.
How Do You Analyze QuidelOrtho Corporation Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 28.03%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 80.35% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
QDEL shares are owned by institutional investors to the tune of 80.35% at present.
