Raymond James & Associates Sells 7,141 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Raymond James & Associates decreased its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,159 shares of the company’s stock after selling 7,141 shares during the quarter. Raymond James & Associates’ holdings in QuidelOrtho were worth $2,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its position in shares of QuidelOrtho by 2.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,506,473 shares of the company’s stock valued at $557,410,000 after acquiring an additional 160,782 shares during the last quarter. Senvest Management LLC raised its position in shares of QuidelOrtho by 7.6% during the 3rd quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock valued at $243,244,000 after acquiring an additional 235,000 shares during the last quarter. State Street Corp raised its position in shares of QuidelOrtho by 0.9% during the 2nd quarter. State Street Corp now owns 1,554,116 shares of the company’s stock valued at $128,774,000 after acquiring an additional 14,591 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in shares of QuidelOrtho by 69.1% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company’s stock valued at $98,606,000 after acquiring an additional 551,524 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of QuidelOrtho by 6.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,271,935 shares of the company’s stock valued at $92,902,000 after acquiring an additional 80,218 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Insider Transactions at QuidelOrtho

In other QuidelOrtho news, CFO Joseph M. Busky acquired 2,150 shares of QuidelOrtho stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the purchase, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.

QuidelOrtho Price Performance

Shares of NASDAQ QDEL opened at $42.17 on Monday. The firm has a market cap of $2.82 billion, a PE ratio of -263.56 and a beta of 0.11. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. QuidelOrtho Co. has a 1-year low of $41.75 and a 1-year high of $98.67. The company has a fifty day moving average price of $48.73 and a 200 day moving average price of $61.86.

QuidelOrtho (NASDAQ:QDEL) last announced its 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 during 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%. QuidelOrtho’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. Research analysts predict that QuidelOrtho Co. will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on QDEL shares. JPMorgan Chase & Co. lowered shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. Raymond James reissued an “outperform” rating and issued a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. UBS Group reissued a “sell” rating and issued a $42.00 price target (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Royal Bank of Canada decreased their price target on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, Craig Hallum reissued a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, QuidelOrtho currently has an average rating of “Hold” and a consensus target price of $61.60.

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.