QuidelOrtho Co. (NASDAQ:QDEL) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 128.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,612 shares of the company’s stock after acquiring an additional 8,772 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in QuidelOrtho were worth $712,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after purchasing an additional 744 shares in the last quarter. GAMMA Investing LLC grew its position in QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after buying an additional 378 shares during the period. Headlands Technologies LLC purchased a new position in QuidelOrtho in the first quarter valued at $86,000. EMC Capital Management acquired a new position in shares of QuidelOrtho in the first quarter worth about $117,000. Finally, Innealta Capital LLC acquired a new position in shares of QuidelOrtho in the second quarter worth about $102,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $39.96 on Thursday. The stock has a 50 day moving average of $42.34 and a two-hundred day moving average of $40.43. QuidelOrtho Co. has a 12 month low of $29.74 and a 12 month high of $75.86. The firm has a market cap of $2.69 billion, a P/E ratio of -1.44 and a beta of 0.12. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QDEL. Craig Hallum upgraded QuidelOrtho from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research report on Friday, August 16th. Finally, UBS Group started coverage on QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, QuidelOrtho presently has an average rating of “Hold” and an average target price of $58.83.

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.