Allianz Asset Management GmbH Decreases Stake in QuidelOrtho Co. (NASDAQ:QDEL)

Allianz Asset Management GmbH cut its holdings in shares of QuidelOrtho Co. (NASDAQ:QDELFree Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,903 shares of the company’s stock after selling 413 shares during the period. Allianz Asset Management GmbH owned approximately 0.06% of QuidelOrtho worth $2,941,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cetera Trust Company N.A purchased a new stake in QuidelOrtho during the 4th quarter valued at $108,000. C M Bidwell & Associates Ltd. bought a new stake in shares of QuidelOrtho during the 3rd quarter valued at about $123,000. Bfsg LLC bought a new position in shares of QuidelOrtho in the 4th quarter worth approximately $146,000. William Blair Investment Management LLC bought a new position in shares of QuidelOrtho in the 3rd quarter worth approximately $210,000. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new position in shares of QuidelOrtho in the fourth quarter worth approximately $227,000. 99.00% of the stock is currently owned by institutional investors.

QuidelOrtho Price Performance

Shares of NASDAQ:QDEL opened at $41.67 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.55. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -1.58 and a beta of 0.13. The firm has a fifty day moving average price of $42.31 and a 200 day moving average price of $55.19. QuidelOrtho Co. has a fifty-two week low of $37.78 and a fifty-two week high of $89.11.

QuidelOrtho (NASDAQ:QDELGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $697.33 million. QuidelOrtho had a negative net margin of 61.65% and a positive return on equity of 3.96%. As a group, sell-side analysts expect that QuidelOrtho Co. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on QDEL shares. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Royal Bank of Canada reduced their target price on shares of QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. UBS Group reaffirmed 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. Raymond James restated an “outperform” rating and set a $76.00 price objective (down from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. downgraded shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $66.00 to $37.00 in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.00.

Check Out Our Latest Research Report on QDEL

About QuidelOrtho

(Free Report)

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.

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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