78,771 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Acquired by Phocas Financial Corp.

Phocas Financial Corp. bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 78,771 shares of the company's stock, valued at approximately $3,592,000. Phocas Financial Corp. owned 0.12% of QuidelOrtho as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of QDEL. Texas Permanent School Fund Corp increased its holdings in QuidelOrtho by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 43,532 shares of the company's stock worth $1,446,000 after purchasing an additional 257 shares during the period. Balanced Rock Investment Advisors LLC raised its holdings in shares of QuidelOrtho by 5.1% in the second quarter. Balanced Rock Investment Advisors LLC now owns 6,784 shares of the company's stock valued at $225,000 after acquiring an additional 329 shares in the last quarter. GAMMA Investing LLC lifted its stake in QuidelOrtho by 27.0% in the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock worth $59,000 after acquiring an additional 378 shares during the period. Algert Global LLC raised its holdings in shares of QuidelOrtho by 1.0% in the 2nd quarter. Algert Global LLC now owns 46,846 shares of the company's stock valued at $1,556,000 after purchasing an additional 450 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC grew its stake in QuidelOrtho by 2.9% in the third quarter. Hunter Perkins Capital Management LLC now owns 18,588 shares of the company's stock valued at $848,000 after purchasing an additional 530 shares during the last quarter. Institutional investors own 99.00% of the company's stock.

Wall Street Analyst Weigh In

QDEL has been the subject of several analyst reports. UBS Group began coverage on QuidelOrtho in a report on Thursday, September 19th. They set a "neutral" rating and a $50.00 price objective for the company. Craig Hallum raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and increased their price objective for the company from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of QuidelOrtho in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $58.83.

QuidelOrtho Stock Performance

Shares of NASDAQ:QDEL traded up $0.82 during trading on Tuesday, hitting $38.21. 250,365 shares of the stock traded hands, compared to its average volume of 966,757. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average price of $41.88 and a two-hundred day moving average price of $40.42. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $75.86. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -1.36 and a beta of 0.12.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.55. QuidelOrtho had a negative net margin of 66.25% and a positive return on equity of 4.24%. The business had revenue of $727.00 million during the quarter, compared to the consensus estimate of $642.16 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The company's revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that QuidelOrtho Co. will post 1.72 EPS for the current year.

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.