QuidelOrtho Co. (NASDAQ:QDEL) Shares Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,559 shares of the company’s stock after purchasing an additional 2,727 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in QuidelOrtho were worth $1,884,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Money Concepts Capital Corp lifted its position in shares of QuidelOrtho by 66.8% during the 4th quarter. Money Concepts Capital Corp now owns 337 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of QuidelOrtho by 109.0% during the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after acquiring an additional 181 shares during the last quarter. Arizona State Retirement System boosted its stake in QuidelOrtho by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 14,229 shares of the company’s stock worth $1,039,000 after purchasing an additional 200 shares during the period. Eagle Bay Advisors LLC grew its position in QuidelOrtho by 174.2% during the 2nd quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after purchasing an additional 223 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in QuidelOrtho by 48.6% in the first quarter. First Horizon Advisors Inc. now owns 822 shares of the company’s stock valued at $73,000 after purchasing an additional 269 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Insider Transactions at QuidelOrtho

In other news, CFO Joseph M. Busky purchased 2,150 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the purchase, the chief financial officer now owns 2,150 shares of the company’s stock, valued at $99,652.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on QDEL. UBS Group reissued a “sell” rating and set a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Raymond James reiterated an “outperform” rating and issued a $76.00 price objective (down previously from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reduced their price target on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.60.

QuidelOrtho Trading Down 1.4 %

NASDAQ:QDEL opened at $43.99 on Thursday. QuidelOrtho Co. has a one year low of $41.75 and a one year high of $98.67. The business’s 50-day simple moving average is $50.27 and its 200 day simple moving average is $62.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -274.94 and a beta of 0.11.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). The company had revenue of $742.60 million for the quarter, compared to analyst estimates of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 EPS. As a group, sell-side analysts predict that QuidelOrtho Co. will post 2.36 earnings per share for the current fiscal year.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. 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.