Fintel reports that on September 19, 2023, RBC Capital reiterated coverage of QuidelOrtho (NASDAQ:QDEL) with a Outperform recommendation.
Analyst Price Forecast Suggests 60.59% Upside
As of August 31, 2023, the average one-year price target for QuidelOrtho is 120.51. The forecasts range from a low of 81.81 to a high of $176.40. The average price target represents an increase of 60.59% from its latest reported closing price of 75.04.
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The projected annual revenue for QuidelOrtho is 2,857MM, a decrease of 9.63%. The projected annual non-GAAP EPS is 5.36.
What is the Fund Sentiment?
There are 4 funds or institutions reporting positions in QuidelOrtho. This is a decrease of 1 owner(s) or 20.00% in the last quarter. Average portfolio weight of all funds dedicated to QDEL is 1.05%, an increase of 17.87%. Total shares owned by institutions decreased in the last three months by 15.43% to 468K shares. 
The put/call ratio of QDEL is 0.50, indicating a bullish outlook.
What are Other Shareholders Doing?
Norges Bank holds 401K shares representing 0.60% ownership of the company. In it's prior filing, the firm reported owning 422K shares, representing a decrease of 5.00%. The firm decreased its portfolio allocation in QDEL by 15.89% over the last quarter.
Birchview Capital holds 65K shares representing 0.10% ownership of the company. In it's prior filing, the firm reported owning 61K shares, representing an increase of 5.98%. The firm decreased its portfolio allocation in QDEL by 5.30% over the last quarter.
Mendota Financial Group holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.
Huntington National Bank holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.
QuidelOrtho Background Information
(This description is provided by the company.)
QuidelOrtho Corporation is a major American manufacturer of diagnostic healthcare products that are sold worldwide.
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