T. Rowe Price Investment Management Inc. Raises Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

T. Rowe Price Investment Management Inc. raised its position in shares of QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 19.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,238,826 shares of the company's stock after buying an additional 1,840,667 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 16.71% of QuidelOrtho worth $500,690,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in 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 purchasing an additional 844 shares during the period. Spire Wealth Management bought a new stake in QuidelOrtho in the fourth quarter worth $74,000. KBC Group NV boosted its stake in QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company's stock worth $153,000 after buying an additional 1,895 shares during the period. Sterling Capital Management LLC increased its position in QuidelOrtho by 75.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock valued at $166,000 after acquiring an additional 1,601 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of QuidelOrtho in the fourth quarter valued at $221,000. Institutional investors own 99.00% of the company's stock.

Wall Street Analyst Weigh In

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

QuidelOrtho Trading Up 1.1 %

Shares of NASDAQ QDEL traded up $0.31 during trading hours on Friday, reaching $28.09. The stock had a trading volume of 1,190,998 shares, compared to its average volume of 998,114. QuidelOrtho Co. has a 52-week low of $23.77 and a 52-week high of $49.45. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.43. The business's fifty day moving average price is $33.62 and its two-hundred day moving average price is $38.92. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last posted its quarterly 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 positive return on equity of 3.78% and a negative net margin of 72.84%. Analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

About QuidelOrtho

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.