Proficio Capital Partners LLC Invests $871,000 in QuidelOrtho Co. (NASDAQ:QDEL)

Proficio Capital Partners LLC purchased a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,557 shares of the company's stock, valued at approximately $871,000.

Several other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in QuidelOrtho during the third quarter worth $34,320,000. Rubric Capital Management LP boosted its position in shares of QuidelOrtho by 15.2% in the 3rd quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company's stock worth $191,520,000 after buying an additional 554,410 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of QuidelOrtho in the 3rd quarter worth about $19,565,000. Beaconlight Capital LLC purchased a new position in QuidelOrtho during the 3rd quarter valued at about $18,152,000. Finally, State Street Corp raised its position 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 acquiring an additional 275,522 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company's stock.

QuidelOrtho Trading Down 0.9 %

NASDAQ:QDEL traded down $0.32 during mid-day trading on Wednesday, reaching $36.97. The company's stock had a trading volume of 518,307 shares, compared to its average volume of 931,815. QuidelOrtho Co. has a twelve month low of $29.74 and a twelve month high of $49.45. The company's fifty day simple moving average is $42.44 and its two-hundred day simple moving average is $42.11. 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 market cap of $2.49 billion, a P/E ratio of -1.22 and a beta of 0.10.

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QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. On average, equities analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group began coverage on shares of QuidelOrtho in a research report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price target on the stock. UBS Group boosted their price target on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Citigroup raised shares of QuidelOrtho from a "neutral" rating to a "buy" rating and boosted their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. Finally, William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $51.20.

QuidelOrtho Company 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.