RBC Capital Reaffirms Their Buy Rating on QuidelOrtho (QDEL)

In a report released on April 7, Conor McNamara from RBC Capital maintained a Buy rating on QuidelOrtho (QDEL – Research Report), with a price target of $81.00. The company’s shares closed yesterday at $43.35.

McNamara covers the Healthcare sector, focusing on stocks such as QuidelOrtho, Bio-Rad Laboratories, and Maravai Lifesciences Holdings. According to TipRanks, McNamara has an average return of -8.5% and a 40.70% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for QuidelOrtho with a $59.00 average price target.

Based on QuidelOrtho’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $744 million and a GAAP net loss of $12.7 million. In comparison, last year the company earned a revenue of $783.8 million and had a net profit of $19.2 million

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of QDEL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

QuidelOrtho (QDEL) Company Description:

Quidel Corp. engages in the development, manufacture and market of rapid diagnostic testing solutions. Its portfolio includes rapid immunoassays, cardiac immunoassays, specialized diagnostic solutions and molecular diagnostic solutions. The products are directly sold to end users and distributors and for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, urgent care clinics, universities, retail clinics, pharmacies and wellness screening centers. The company was founded in 1979 and is headquartered in San Diego, CA.