Vanguard Group Inc. Raises Position in QuidelOrtho Co. (NASDAQ:QDEL)

Vanguard Group Inc. grew its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 12.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,817,412 shares of the company’s stock after buying an additional 764,900 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of QuidelOrtho worth $303,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp grew its position in shares of QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock valued at $87,000,000 after purchasing an additional 275,522 shares in the last quarter. FMR LLC grew its holdings in shares of QuidelOrtho by 28.0% in the third quarter. FMR LLC now owns 1,256,356 shares of the company’s stock valued at $57,290,000 after purchasing an additional 274,633 shares during the period. American Century Companies Inc. raised its position in shares of QuidelOrtho by 72.6% during the 4th quarter. American Century Companies Inc. now owns 1,115,551 shares of the company’s stock valued at $49,698,000 after buying an additional 469,132 shares during the period. Geode Capital Management LLC lifted its stake in shares of QuidelOrtho by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock valued at $41,996,000 after purchasing an additional 16,059 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of QuidelOrtho by 20.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 881,535 shares of the company’s stock worth $39,272,000 after purchasing an additional 148,735 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Trading Down 6.2 %

NASDAQ:QDEL opened at $32.49 on Friday. 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 capitalization of $2.19 billion, a PE ratio of -1.07 and a beta of 0.10. The stock’s 50 day moving average price is $39.38 and its 200 day moving average price is $41.14. QuidelOrtho Co. has a 52-week low of $29.74 and a 52-week high of $49.45.

QuidelOrtho (NASDAQ:QDEL) 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 negative net margin of 72.84% and a positive return on equity of 3.78%. On average, research analysts anticipate that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on QDEL shares. StockNews.com cut shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. UBS Group raised their price objective 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. Jefferies Financial Group started coverage on QuidelOrtho in a research report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price objective on the stock. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. Finally, Royal Bank of Canada lowered their target price 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. Four investment 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 company presently has an average rating of “Hold” and a consensus target price of $51.20.

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.