Burkehill Global Management LP purchased a new position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 200,000 shares of the company's stock, valued at approximately $8,910,000. Burkehill Global Management LP owned 0.30% of QuidelOrtho at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after purchasing an additional 844 shares during the period. Spire Wealth Management acquired a new stake in shares of QuidelOrtho in the 4th quarter worth about $74,000. KBC Group NV lifted its position in QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after acquiring an additional 1,895 shares in the last quarter. Captrust Financial Advisors acquired a new position in QuidelOrtho during the 3rd quarter valued at about $238,000. Finally, CIBC Asset Management Inc bought a new stake in QuidelOrtho during the 3rd quarter worth approximately $262,000. Institutional investors own 99.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Jefferies Financial Group initiated coverage on QuidelOrtho in a research note on Tuesday, December 10th. They set a "hold" rating and a $43.00 price objective on the stock. Royal Bank of Canada reduced their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. UBS Group increased their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $51.20.
View Our Latest Analysis on QDEL
QuidelOrtho Stock Performance
Shares of QuidelOrtho stock traded down $1.27 during trading hours on Thursday, hitting $35.60. 605,099 shares of the company's stock traded hands, compared to its average volume of 930,019. The company has a fifty day simple moving average of $42.10 and a 200-day simple moving average of $42.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -1.18 and a beta of 0.10. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.45.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. Equities research analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.
QuidelOrtho Profile
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Free Report)
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.
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