48,678 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 48,678 shares of the company's stock, valued at approximately $2,169,000. Raymond James Financial Inc. owned about 0.07% of QuidelOrtho at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc grew its position in QuidelOrtho by 14.2% in the 4th quarter. CIBC Asset Management Inc now owns 6,564 shares of the company's stock worth $292,000 after purchasing an additional 816 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after buying an additional 844 shares during the period. Mutual of America Capital Management LLC grew its position in QuidelOrtho by 14.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company's stock worth $445,000 after buying an additional 1,289 shares in the last quarter. Spire Wealth Management bought a new position in QuidelOrtho during the fourth quarter valued at about $74,000. Finally, New York State Teachers Retirement System raised its holdings in QuidelOrtho by 3.1% in the 4th quarter. New York State Teachers Retirement System now owns 56,000 shares of the company's stock valued at $2,495,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 99.00% of the company's stock.

QuidelOrtho Price Performance

Shares of QDEL traded down $2.14 during trading hours on Thursday, hitting $32.49. The stock had a trading volume of 1,519,731 shares, compared to its average volume of 944,902. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -1.07 and a beta of 0.10. 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 company's fifty day moving average is $39.38 and its two-hundred day moving average is $41.14. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $49.45.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on QDEL shares. StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Citigroup upgraded shares of QuidelOrtho from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $50.00 in a research note on Wednesday, December 11th. Royal Bank of Canada lowered their price target 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. Jefferies Financial Group initiated coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They set a "hold" rating and a $43.00 price objective for the company. Finally, UBS Group upped their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, QuidelOrtho currently has an average rating of "Hold" and a consensus target price of $51.20.

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.