QuidelOrtho Co. (NASDAQ:QDEL) Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 190.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,452 shares of the company's stock after purchasing an additional 191,222 shares during the period. Neuberger Berman Group LLC owned approximately 0.43% of QuidelOrtho worth $12,980,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Captrust Financial Advisors bought a new stake in shares of QuidelOrtho in the third quarter worth $238,000. State Street Corp increased its stake in QuidelOrtho by 16.9% during the 3rd quarter. State Street Corp now owns 1,907,898 shares of the company's stock worth $87,000,000 after acquiring an additional 275,522 shares during the period. M&T Bank Corp boosted its position in shares of QuidelOrtho by 33.4% during the 3rd quarter. M&T Bank Corp now owns 38,356 shares of the company's stock worth $1,749,000 after acquiring an additional 9,607 shares in the last quarter. Geode Capital Management LLC grew its position in QuidelOrtho by 1.8% in the third quarter. Geode Capital Management LLC now owns 920,703 shares of the company's stock valued at $41,996,000 after acquiring an additional 16,059 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of QuidelOrtho by 64.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company's stock valued at $12,405,000 after acquiring an additional 106,642 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QDEL has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. UBS Group lifted their price objective on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, StockNews.com cut QuidelOrtho from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $51.20.

QuidelOrtho Price Performance

Shares of QuidelOrtho stock traded down $0.74 on Wednesday, hitting $25.82. 896,806 shares of the company traded hands, compared to its average volume of 984,626. The stock has a market capitalization of $1.74 billion, a P/E ratio of -0.85 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The business has a 50-day simple moving average of $36.12 and a 200 day simple moving average of $39.89. QuidelOrtho Co. has a 52 week low of $24.96 and a 52 week high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share 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%. Research analysts expect that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

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.