Macquarie Group Ltd. Raises Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

Macquarie Group Ltd. lifted its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,552 shares of the company’s stock after buying an additional 4,188 shares during the quarter. Macquarie Group Ltd. owned approximately 0.14% of QuidelOrtho worth $6,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC grew its position in shares of QuidelOrtho by 252.3% during the third quarter. Quadrant Capital Group LLC now owns 377 shares of the company’s stock worth $27,000 after buying an additional 270 shares in the last quarter. Huntington National Bank acquired a new position in shares of QuidelOrtho during the third quarter worth about $28,000. First Horizon Advisors Inc. grew its position in shares of QuidelOrtho by 59.0% during the third quarter. First Horizon Advisors Inc. now owns 426 shares of the company’s stock worth $30,000 after buying an additional 158 shares in the last quarter. Eagle Bay Advisors LLC grew its position in shares of QuidelOrtho by 174.2% during the second quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after buying an additional 223 shares in the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new position in shares of QuidelOrtho during the third quarter worth about $55,000. 95.21% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $87.56 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.04 and a debt-to-equity ratio of 0.49. QuidelOrtho Co. has a twelve month low of $66.88 and a twelve month high of $120.61. The stock has a 50 day moving average of $87.19 and a two-hundred day moving average of $84.49. The stock has a market cap of $5.82 billion, a P/E ratio of 7.06 and a beta of 0.25.

Wall Street Analyst Weigh In

QDEL has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on QuidelOrtho from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and upped their price target for the company from $90.00 to $125.00 in a report on Monday, December 12th. Raymond James lowered their price target on QuidelOrtho from $136.00 to $130.00 and set a “strong-buy” rating for the company in a report on Thursday, February 16th. Finally, Craig Hallum lowered their price target on QuidelOrtho to $173.00 in a report on Wednesday, December 14th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QuidelOrtho currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.

QuidelOrtho Company Profile

(Get Rating)

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.