Raymond James & Associates Purchases 8,247 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Raymond James & Associates raised its position in QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 54.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,361 shares of the company’s stock after buying an additional 8,247 shares during the quarter. Raymond James & Associates’ holdings in QuidelOrtho were worth $1,670,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Islay Capital Management LLC increased its holdings in QuidelOrtho by 14.5% in the 2nd quarter. Islay Capital Management LLC now owns 1,035 shares of the company’s stock valued at $101,000 after buying an additional 131 shares during the period. US Bancorp DE increased its holdings in QuidelOrtho by 11.4% in the 2nd quarter. US Bancorp DE now owns 1,609 shares of the company’s stock valued at $156,000 after buying an additional 165 shares during the period. Amundi increased its holdings in QuidelOrtho by 8.4% in the 2nd quarter. Amundi now owns 2,250 shares of the company’s stock valued at $223,000 after buying an additional 175 shares during the period. Truist Financial Corp grew its holdings in shares of QuidelOrtho by 2.1% during the 2nd quarter. Truist Financial Corp now owns 10,287 shares of the company’s stock valued at $1,000,000 after purchasing an additional 213 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its holdings in shares of QuidelOrtho by 174.2% during the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after purchasing an additional 223 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

QuidelOrtho Stock Down 4.7 %

Shares of NASDAQ QDEL opened at $86.70 on Wednesday. The company has a market capitalization of $5.73 billion, a P/E ratio of 4.61 and a beta of 0.29. QuidelOrtho Co. has a 52-week low of $66.88 and a 52-week high of $120.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.66. The company’s 50 day moving average price is $87.27 and its 200-day moving average price is $86.38.

QuidelOrtho (NASDAQ:QDEL – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $1.35. The firm 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%. Equities analysts forecast that QuidelOrtho Co. will post 13.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QDEL. StockNews.com began coverage on shares of QuidelOrtho in a report on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of QuidelOrtho from $100.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. UBS Group raised shares of QuidelOrtho from a “sell” rating to a “neutral” rating and set a $86.00 price target on the stock in a report on Friday, October 14th. Craig Hallum cut their target price on shares of QuidelOrtho to $173.00 in a research report on Wednesday, December 14th. Finally, Royal Bank of Canada began coverage on shares of QuidelOrtho in a research report on Tuesday, December 6th. They set an “outperform” rating and a $125.00 target price on the stock. Three investment 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.00.

QuidelOrtho Profile

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QuidelOrtho Corp. operates as a vitro diagnostics company. It is focused on developing and manufacturing diagnostic products. The company was founded on May 27, 2022 and is headquartered in San Diego, CA.