Charles Schwab Investment Management Inc. boosted its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 20.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 881,535 shares of the company's stock after purchasing an additional 148,735 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.31% of QuidelOrtho worth $39,272,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of QDEL. Blue Trust Inc. lifted its position in QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after acquiring an additional 844 shares during the last quarter. Spire Wealth Management acquired a new position in shares of QuidelOrtho during the fourth quarter worth $74,000. KBC Group NV boosted its position in shares of QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after purchasing an additional 1,895 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of QuidelOrtho in the 3rd quarter worth $238,000. Finally, CIBC Asset Management Inc purchased a new position in QuidelOrtho during the 3rd quarter worth $262,000. 99.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on QDEL shares. Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and raised their price target for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. StockNews.com lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Jefferies Financial Group assumed coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price target for the company. William Blair reissued a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, UBS Group raised 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $51.20.
Check Out Our Latest Stock Report on QDEL
QuidelOrtho Stock Performance
Shares of NASDAQ QDEL traded down $0.24 during trading on Wednesday, reaching $34.65. 993,869 shares of the company traded hands, compared to its average volume of 926,992. The stock has a market cap of $2.34 billion, a P/E ratio of -1.14 and a beta of 0.10. The firm's fifty day simple moving average is $41.42 and its 200 day simple moving average is $41.83. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. 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 earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. As a group, research analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share 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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