12,039 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Acquired by Van ECK Associates Corp

Van ECK Associates Corp bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDELGet Rating) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,039 shares of the company’s stock, valued at approximately $861,000.

A number of other institutional investors have also made changes to their positions in the business. Heritage Investors Management Corp increased its holdings in shares of QuidelOrtho by 20.1% during the 3rd quarter. Heritage Investors Management Corp now owns 8,934 shares of the company’s stock worth $639,000 after acquiring an additional 1,494 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in QuidelOrtho by 13,727.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 98,449 shares of the company’s stock valued at $7,037,000 after buying an additional 97,737 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in QuidelOrtho in the 3rd quarter valued at $55,000. Texas Permanent School Fund grew its holdings in QuidelOrtho by 7.9% in the 3rd quarter. Texas Permanent School Fund now owns 39,005 shares of the company’s stock valued at $2,788,000 after buying an additional 2,850 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in QuidelOrtho by 54.6% in the 3rd quarter. Raymond James & Associates now owns 23,361 shares of the company’s stock valued at $1,670,000 after buying an additional 8,247 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on QDEL shares. Craig Hallum decreased their price objective on QuidelOrtho to $173.00 in a report on Wednesday, December 14th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $125.00 in a report on Monday, December 12th. JPMorgan Chase & Co. decreased their price objective on QuidelOrtho from $100.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Royal Bank of Canada assumed coverage on QuidelOrtho in a report on Tuesday, December 6th. They set an “outperform” rating and a $125.00 target price on the stock. Finally, UBS Group raised QuidelOrtho from a “sell” rating to a “neutral” rating and set a $86.00 price target for the company in a research note on Friday, October 14th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

QuidelOrtho Price Performance

QDEL stock opened at $84.58 on Monday. The firm has a market cap of $5.59 billion, a P/E ratio of 4.50 and a beta of 0.29. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $87.76 and its two-hundred day moving average price is $87.12. QuidelOrtho Co. has a 12 month low of $66.88 and a 12 month high of $120.61.

QuidelOrtho (NASDAQ:QDELGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $1.35. The company had revenue of $783.80 million for the quarter. QuidelOrtho had a net margin of 26.67% and a return on equity of 30.18%. On average, analysts anticipate that QuidelOrtho Co. will post 13.23 earnings per share for the current fiscal year.

QuidelOrtho Company Profile

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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.

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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