QuidelOrtho Co. (NASDAQ:QDEL) Stock Position Lifted by Swiss National Bank

Swiss National Bank lifted its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,240 shares of the company's stock after buying an additional 21,100 shares during the quarter. Swiss National Bank owned 0.20% of QuidelOrtho worth $5,891,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QDEL. Blue Trust Inc. grew its stake in shares of QuidelOrtho by 188.0% during the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $58,000 after acquiring an additional 844 shares in the last quarter. Spire Wealth Management purchased a new position in shares of QuidelOrtho during the 4th quarter valued at approximately $74,000. KBC Group NV boosted its stake in shares of QuidelOrtho by 122.9% during the 4th 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. Captrust Financial Advisors acquired a new stake in shares of QuidelOrtho during the third quarter worth approximately $238,000. Finally, Quest Partners LLC increased its stake in shares of QuidelOrtho by 89.6% in the third quarter. Quest Partners LLC now owns 6,522 shares of the company's stock worth $297,000 after buying an additional 3,083 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on QDEL. Royal Bank of Canada decreased their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. StockNews.com lowered QuidelOrtho from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Citigroup raised QuidelOrtho from a "neutral" rating to a "buy" rating and increased their target price for the stock from $44.00 to $50.00 in a report on Wednesday, December 11th. Jefferies Financial Group began coverage on QuidelOrtho in a report on Tuesday, December 10th. They issued a "hold" rating and a $43.00 price target for the company. Finally, UBS Group raised their price objective on QuidelOrtho from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $51.20.

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QuidelOrtho Stock Performance

QDEL traded up $0.85 during trading on Thursday, reaching $35.87. 684,533 shares of the company were exchanged, compared to its average volume of 932,089. QuidelOrtho Co. has a 52 week low of $29.74 and a 52 week high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $40.40 and a 200 day moving average of $41.55. The stock has a market cap of $2.42 billion, a P/E ratio of -1.18 and a beta of 0.10.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 EPS 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, sell-side analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

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.