JPMorgan Chase & Co. grew its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,406,654 shares of the company's stock after acquiring an additional 173,174 shares during the period. JPMorgan Chase & Co. owned 2.09% of QuidelOrtho worth $62,666,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake 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 buying an additional 844 shares during the last quarter. Spire Wealth Management acquired a new stake in QuidelOrtho during the 4th quarter worth $74,000. KBC Group NV raised its position in shares of QuidelOrtho by 122.9% during 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 during the last quarter. LPL Financial LLC acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $221,000. Finally, Captrust Financial Advisors bought a new position in shares of QuidelOrtho in the 3rd quarter worth $238,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.
QuidelOrtho Stock Performance
Shares of QuidelOrtho stock traded up $2.65 on Wednesday, hitting $28.85. The stock had a trading volume of 2,219,044 shares, compared to its average volume of 966,475. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -0.95 and a beta of 0.43. The business's 50 day moving average is $37.41 and its two-hundred day moving average is $40.39. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a twelve month low of $25.15 and a twelve month high of $49.45.
QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share 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%. Analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current year.
Wall Street Analysts Forecast Growth
QDEL has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and increased their target price 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 report on Saturday, February 15th. UBS Group raised their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group started coverage on QuidelOrtho in a report on Tuesday, December 10th. They set a "hold" rating and a $43.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $51.20.
Check Out Our Latest Report on QDEL
About QuidelOrtho
(
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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