Cerity Partners LLC boosted its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 112.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,164 shares of the company's stock after acquiring an additional 14,898 shares during the period. Cerity Partners LLC's holdings in QuidelOrtho were worth $1,259,000 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. Geode Capital Management LLC lifted its stake in shares of QuidelOrtho by 17.7% in the 4th quarter. Geode Capital Management LLC now owns 1,083,461 shares of the company's stock valued at $48,285,000 after purchasing an additional 162,758 shares during the period. Alliancebernstein L.P. grew its holdings in shares of QuidelOrtho by 4.4% during the fourth quarter. Alliancebernstein L.P. now owns 24,816 shares of the company's stock valued at $1,106,000 after buying an additional 1,040 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in QuidelOrtho by 39.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,588 shares of the company's stock worth $427,000 after purchasing an additional 2,721 shares in the last quarter. Norges Bank bought a new stake in QuidelOrtho during the fourth quarter worth $34,171,000. Finally, JPMorgan Chase & Co. boosted its holdings in QuidelOrtho by 14.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,406,654 shares of the company's stock worth $62,666,000 after acquiring an additional 173,174 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on QDEL shares. StockNews.com downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. JPMorgan Chase & Co. decreased their price objective on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday. UBS Group boosted their target price on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $46.83.
Get Our Latest Report on QDEL
QuidelOrtho Stock Performance
Shares of QuidelOrtho stock traded up $2.15 on Wednesday, reaching $26.61. 228,532 shares of the company traded hands, compared to its average volume of 989,762. 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 firm has a market capitalization of $1.79 billion, a PE ratio of -0.88 and a beta of 0.43. The company has a 50 day moving average of $34.44 and a 200 day moving average of $39.22. QuidelOrtho Co. has a 52 week low of $23.77 and a 52 week high of $49.45.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts forecast that QuidelOrtho Co. will post 2.3 earnings per share for the current 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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