QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 92.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,305 shares of the company's stock after selling 130,684 shares during the quarter. Bank of Montreal Can's holdings in QuidelOrtho were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of QuidelOrtho in the fourth quarter valued at approximately $34,171,000. Vanguard Group Inc. grew its stake in shares of QuidelOrtho by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,817,412 shares of the company's stock worth $303,716,000 after acquiring an additional 764,900 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of QuidelOrtho by 143.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,046,649 shares of the company's stock worth $46,628,000 after acquiring an additional 617,592 shares during the period. Magnetar Financial LLC raised its stake in shares of QuidelOrtho by 207.8% in the fourth quarter. Magnetar Financial LLC now owns 877,307 shares of the company's stock valued at $39,084,000 after acquiring an additional 592,307 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in QuidelOrtho by 72.6% in the fourth quarter. American Century Companies Inc. now owns 1,115,551 shares of the company's stock valued at $49,698,000 after purchasing an additional 469,132 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on QDEL shares. UBS Group increased their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Monday. StockNews.com cut shares of QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada reduced their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, QuidelOrtho presently has an average rating of "Hold" and an average target price of $46.83.

QuidelOrtho Stock Performance

QDEL traded up $2.05 during trading on Thursday, reaching $27.78. The company's stock had a trading volume of 1,535,381 shares, compared to its average volume of 996,819. 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 company's fifty day moving average price is $34.15 and its 200-day moving average price is $39.13. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -0.92 and a beta of 0.43.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly 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 negative net margin of 72.84% and a positive return on equity of 3.78%. On average, equities analysts forecast 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.