Sanctuary Advisors LLC Makes New $414,000 Investment in QuidelOrtho Co. (NASDAQ:QDEL)

Sanctuary Advisors LLC acquired a new stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,598 shares of the company's stock, valued at approximately $414,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC acquired a new position in QuidelOrtho during the third quarter worth approximately $605,000. Leeward Investments LLC MA raised its position in shares of QuidelOrtho by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 229,847 shares of the company's stock worth $10,481,000 after buying an additional 33,588 shares during the period. State Street Corp boosted its holdings in QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company's stock valued at $87,000,000 after acquiring an additional 275,522 shares during the last quarter. FMR LLC grew its position in QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company's stock valued at $57,290,000 after acquiring an additional 274,633 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in QuidelOrtho during the fourth quarter worth about $301,000. Hedge funds and other institutional investors own 99.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. William Blair reiterated a "market perform" rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Royal Bank of Canada cut their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, Jefferies Financial Group initiated coverage on QuidelOrtho in a research report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, QuidelOrtho currently has a consensus rating of "Hold" and an average price target of $51.20.

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Insider Activity at QuidelOrtho

In related news, CEO Brian J. Blaser bought 6,033 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $41.42 per share, with a total value of $249,886.86. Following the transaction, the chief executive officer now owns 6,033 shares of the company's stock, valued at approximately $249,886.86. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

QuidelOrtho Stock Down 0.0 %

NASDAQ:QDEL traded down $0.00 on Thursday, reaching $39.67. The stock had a trading volume of 150,791 shares, compared to its average volume of 936,435. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.45. The stock has a market cap of $2.67 billion, a P/E ratio of -1.31 and a beta of 0.08. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $42.86 and a 200 day moving average of $42.26.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, research analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

QuidelOrtho Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.