63,797 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Bought by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC bought a new position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 63,797 shares of the company's stock, valued at approximately $2,842,000. Essex Investment Management Co. LLC owned 0.09% of QuidelOrtho at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of QDEL. Capital Performance Advisors LLP purchased a new position in QuidelOrtho in the 3rd quarter valued at about $25,000. CIBC Asset Management Inc boosted its holdings in QuidelOrtho by 14.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock valued at $292,000 after purchasing an additional 816 shares during the last quarter. Blue Trust Inc. grew its stake in QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after purchasing an additional 844 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in QuidelOrtho by 14.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company's stock worth $445,000 after purchasing an additional 1,289 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of QuidelOrtho during the 4th quarter valued at approximately $74,000. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Stock Down 3.4 %

Shares of QuidelOrtho stock traded down $1.27 during midday trading on Thursday, hitting $35.60. The company's stock had a trading volume of 605,099 shares, compared to its average volume of 929,683. The firm has a market capitalization of $2.40 billion, a P/E ratio of -1.18 and a beta of 0.10. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $49.45. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The stock has a 50-day simple moving average of $42.29 and a 200-day simple moving average of $42.07.

Remove Ads

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%. As a group, sell-side analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and increased their price objective for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. StockNews.com lowered shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. UBS Group increased their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada lowered their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $51.20.

About QuidelOrtho

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.