Victory Capital Management Inc. Buys 8,493 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Victory Capital Management Inc. lifted its stake in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 36.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,897 shares of the company's stock after purchasing an additional 8,493 shares during the quarter. Victory Capital Management Inc.'s holdings in QuidelOrtho were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of QuidelOrtho by 188.0% in the 4th 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 acquired a new position in shares of QuidelOrtho in the 4th quarter valued at $74,000. KBC Group NV boosted its position in shares of QuidelOrtho by 122.9% in the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after purchasing an additional 1,895 shares during the period. Captrust Financial Advisors acquired a new position in shares of QuidelOrtho in the 3rd quarter valued at $238,000. Finally, CIBC Asset Management Inc acquired a new position in shares of QuidelOrtho in the 3rd quarter valued at $262,000. Institutional investors and hedge funds own 99.00% of the company's stock.

QuidelOrtho Stock Up 2.2 %

Shares of QDEL traded up $0.77 during midday trading on Friday, reaching $35.93. 1,330,119 shares of the stock were exchanged, compared to its average volume of 932,844. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $49.45. The firm has a 50 day simple moving average of $40.78 and a 200-day simple moving average of $41.69. The company has a quick ratio of 0.69, a current ratio of 1.22 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -1.19 and a beta of 0.10.

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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 positive return on equity of 3.78% and a negative net margin of 72.84%. Research analysts forecast that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

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