Ieq Capital LLC Grows Position in QuidelOrtho Co. (NASDAQ:QDEL)

Ieq Capital LLC boosted its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 1,046.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,317 shares of the company's stock after buying an additional 76,050 shares during the period. Ieq Capital LLC owned approximately 0.12% of QuidelOrtho worth $3,712,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of QDEL. CIBC Asset Management Inc grew its holdings in shares of QuidelOrtho by 14.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock valued at $292,000 after buying an additional 816 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of QuidelOrtho in the fourth quarter valued at about $414,000. Principal Financial Group Inc. lifted its position in shares of QuidelOrtho by 17.3% during the fourth quarter. Principal Financial Group Inc. now owns 319,208 shares of the company's stock valued at $14,221,000 after purchasing an additional 47,171 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in QuidelOrtho by 22.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 54,411 shares of the company's stock worth $2,424,000 after purchasing an additional 9,956 shares during the last quarter. Finally, Rhumbline Advisers grew its position in QuidelOrtho by 10.3% in the 4th quarter. Rhumbline Advisers now owns 128,255 shares of the company's stock worth $5,714,000 after purchasing an additional 12,026 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QDEL. William Blair restated a "market perform" rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Citigroup upgraded shares of 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. Royal Bank of Canada cut their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, Jefferies Financial Group started coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $51.20.

QuidelOrtho Trading Down 0.8 %

NASDAQ:QDEL traded down $0.31 during trading hours on Wednesday, hitting $40.88. The company had a trading volume of 414,700 shares, compared to its average volume of 909,545. 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 50-day moving average price of $43.37 and a 200 day moving average price of $42.40. The company has a market capitalization of $2.75 billion, a PE ratio of -1.35 and a beta of 0.08. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued 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%. On average, equities research analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian J. Blaser purchased 6,033 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the purchase, the chief executive officer now directly owns 6,033 shares in the company, valued at approximately $249,886.86. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

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.