International Assets Investment Management LLC Has $581,000 Stock Position in QuidelOrtho Co. (NASDAQ:QDEL)

International Assets Investment Management LLC lifted its position in QuidelOrtho Co. (NASDAQ:QDEL) by 7,410.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,886 shares of the company’s stock after purchasing an additional 7,781 shares during the period. International Assets Investment Management LLC’s holdings in QuidelOrtho were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC lifted its stake in shares of QuidelOrtho by 109.0% in the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after buying an additional 181 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of QuidelOrtho in the third quarter worth $106,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of QuidelOrtho in the third quarter worth $123,000. Denali Advisors LLC lifted its stake in shares of QuidelOrtho by 622.5% in the third quarter. Denali Advisors LLC now owns 2,312 shares of the company’s stock worth $169,000 after buying an additional 1,992 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of QuidelOrtho in the third quarter worth $210,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Trading Up 1.0 %

Shares of QDEL stock opened at $40.82 on Thursday. QuidelOrtho Co. has a 52-week low of $37.78 and a 52-week high of $95.02. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -255.13 and a beta of 0.11. 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 firm has a fifty day moving average of $44.67 and a 200-day moving average of $60.03.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The business had revenue of $742.60 million during the quarter, compared to analyst estimates of $796.91 million. During the same quarter in the prior year, the company posted $1.74 EPS. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts forecast that QuidelOrtho Co. will post 2.28 earnings per share for the current fiscal year.

Insider Activity

In other QuidelOrtho news, CFO Joseph M. Busky acquired 2,150 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was bought at an average price of $46.35 per share, for a total transaction of $99,652.50. Following the purchase, the chief financial officer now owns 2,150 shares in the company, valued at approximately $99,652.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $66.00 to $37.00 in a research note on Wednesday, February 14th. UBS Group reiterated a “sell” rating and set a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Royal Bank of Canada cut their target price on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Finally, Raymond James reiterated an “outperform” rating and set a $76.00 target price (down from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.60.

About QuidelOrtho

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.