QuidelOrtho Co. (NASDAQ:QDEL) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,255 shares of the company's stock after buying an additional 12,026 shares during the period. Rhumbline Advisers owned 0.19% of QuidelOrtho worth $5,714,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in QuidelOrtho during the 3rd quarter worth about $25,000. Blue Trust Inc. boosted its stake in shares of QuidelOrtho by 188.0% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after purchasing an additional 844 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of QuidelOrtho during the fourth quarter worth about $74,000. KBC Group NV raised its position in shares of QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after buying an additional 1,895 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of QuidelOrtho by 4,460.0% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the company's stock valued at $208,000 after buying an additional 4,460 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QDEL has been the subject of several analyst reports. Royal Bank of Canada cut their price target on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Citigroup upgraded QuidelOrtho from a "neutral" rating to a "buy" rating and upped their target price for the company from $44.00 to $50.00 in a research note on Wednesday, December 11th. StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. William Blair reaffirmed a "market perform" rating on shares of QuidelOrtho in a research note on Wednesday, November 20th. Finally, UBS Group raised their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $51.20.

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QuidelOrtho Trading Up 0.5 %

Shares of NASDAQ QDEL traded up $0.21 during midday trading on Friday, hitting $39.99. The stock had a trading volume of 821,692 shares, compared to its average volume of 907,290. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $49.45. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -1.32 and a beta of 0.08. The company has a fifty day moving average price of $43.18 and a 200 day moving average price of $42.36.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced 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, analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brian J. Blaser acquired 6,033 shares of QuidelOrtho stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the purchase, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.