Russell Investments Group Ltd. Grows Position in QuidelOrtho Co. (NASDAQ:QDEL)

Russell Investments Group Ltd. grew its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 48.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,003 shares of the company’s stock after purchasing an additional 4,546 shares during the quarter. Russell Investments Group Ltd.’s holdings in QuidelOrtho were worth $1,200,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Raymond James & Associates lifted its stake in QuidelOrtho by 30.3% in the first quarter. Raymond James & Associates now owns 10,654 shares of the company’s stock worth $1,198,000 after acquiring an additional 2,476 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in QuidelOrtho by 27.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,831 shares of the company’s stock worth $1,668,000 after acquiring an additional 3,203 shares during the period. US Bancorp DE lifted its position in QuidelOrtho by 113.0% during the first quarter. US Bancorp DE now owns 1,444 shares of the company’s stock valued at $162,000 after buying an additional 766 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in QuidelOrtho by 58.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,141 shares of the company’s stock valued at $353,000 after buying an additional 1,154 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in QuidelOrtho by 905.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,081 shares of the company’s stock valued at $234,000 after buying an additional 1,874 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

QuidelOrtho Price Performance

NASDAQ QDEL opened at $86.91 on Thursday. QuidelOrtho Co. has a 52 week low of $66.88 and a 52 week high of $108.35. The firm has a market capitalization of $5.79 billion, a P/E ratio of 47.75 and a beta of 0.29. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $88.71 and a 200-day moving average price of $87.95.

Analyst Ratings Changes

Several equities analysts have commented on QDEL shares. Raymond James lowered their price objective on QuidelOrtho from $136.00 to $130.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 16th. StockNews.com started coverage on QuidelOrtho in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised their price objective on QuidelOrtho from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QuidelOrtho has a consensus rating of “Moderate Buy” and an average price target of $123.83.

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.