JPMorgan Chase & Co. Has $56.25 Million Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

JPMorgan Chase & Co. lessened its holdings in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,233,480 shares of the company's stock after selling 54,506 shares during the period. JPMorgan Chase & Co. owned approximately 1.83% of QuidelOrtho worth $56,247,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in QDEL. Cerity Partners LLC bought a new position in shares of QuidelOrtho during the third quarter valued at $605,000. Leeward Investments LLC MA lifted its holdings in QuidelOrtho by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 229,847 shares of the company's stock valued at $10,481,000 after purchasing an additional 33,588 shares during the last quarter. Hsbc Holdings PLC boosted its position in QuidelOrtho by 316.2% in the second quarter. Hsbc Holdings PLC now owns 28,916 shares of the company's stock valued at $962,000 after buying an additional 21,968 shares in the last quarter. State Street Corp grew its stake in QuidelOrtho by 16.9% during the third quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after buying an additional 275,522 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of QuidelOrtho by 28.0% during the third quarter. FMR LLC now owns 1,256,356 shares of the company's stock worth $57,290,000 after buying an additional 274,633 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Trading Up 3.6 %

Shares of QDEL stock traded up $1.62 on Friday, reaching $46.66. 708,765 shares of the stock were exchanged, compared to its average volume of 651,483. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 0.81. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $75.09. The stock has a market cap of $3.14 billion, a PE ratio of -1.67 and a beta of 0.08. The stock has a 50 day moving average price of $41.11 and a 200 day moving average price of $40.39.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.55. The firm had revenue of $727.00 million during the quarter, compared to analysts' expectations of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Equities research analysts forecast that QuidelOrtho Co. will post 1.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on QDEL shares. Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. William Blair reissued a "market perform" rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. UBS Group assumed coverage on QuidelOrtho in a report on Thursday, September 19th. They set a "neutral" rating and a $50.00 target price on the stock. Finally, Jefferies Financial Group started coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $53.43.

Insider Activity at QuidelOrtho

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of QuidelOrtho stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian J. Blaser bought 6,033 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost 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 of the company's stock, valued at approximately $249,886.86. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company 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.