Vise Technologies Inc. Invests $212,000 in QuidelOrtho Co. (NASDAQ:QDEL)

Vise Technologies Inc. acquired a new position in shares of QuidelOrtho Co. (NASDAQ:QDELGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,885 shares of the company’s stock, valued at approximately $212,000.

Other hedge funds have also made changes to their positions in the company. Treasurer of the State of North Carolina boosted its holdings in shares of QuidelOrtho by 13.7% during the first quarter. Treasurer of the State of North Carolina now owns 15,149 shares of the company’s stock worth $1,704,000 after purchasing an additional 1,820 shares during the last quarter. Nordea Investment Management AB acquired a new position in QuidelOrtho in the first quarter valued at $5,101,000. HighTower Advisors LLC raised its position in QuidelOrtho by 4.3% in the fourth quarter. HighTower Advisors LLC now owns 4,541 shares of the company’s stock valued at $610,000 after purchasing an additional 187 shares during the period. Hillsdale Investment Management Inc. purchased a new position in QuidelOrtho in the first quarter valued at about $620,000. Finally, Kornitzer Capital Management Inc. KS raised its position in QuidelOrtho by 13.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 78,100 shares of the company’s stock valued at $8,783,000 after purchasing an additional 9,495 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on QuidelOrtho in a research report on Friday, June 17th. They issued a “neutral” rating on the stock. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, UBS Group initiated coverage on QuidelOrtho in a research report on Wednesday, July 20th. They issued a “sell” rating and a $86.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QuidelOrtho presently has a consensus rating of “Hold” and an average price target of $98.67.

QuidelOrtho Stock Down 1.8 %

Shares of NASDAQ QDEL opened at $81.78 on Friday. QuidelOrtho Co. has a 1 year low of $77.32 and a 1 year high of $180.06. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 3.47 and a beta of 0.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.12 and a current ratio of 1.73. The stock’s 50-day simple moving average is $90.98 and its 200-day simple moving average is $99.03.

About QuidelOrtho

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QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies across the continuum of healthcare testing needs. 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.

Further Reading

Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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