Wells Fargo & Company MN Sells 3,585 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Wells Fargo & Company MN cut its holdings in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 25.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,552 shares of the company’s stock after selling 3,585 shares during the quarter. Wells Fargo & Company MN’s holdings in QuidelOrtho were worth $470,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QDEL. Corient Private Wealth LLC raised its stake in QuidelOrtho by 10.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,874 shares of the company’s stock worth $306,000 after buying an additional 661 shares during the last quarter. CIBC Asset Management Inc grew its holdings in QuidelOrtho by 14.2% during the 4th quarter. CIBC Asset Management Inc now owns 6,564 shares of the company’s stock worth $292,000 after acquiring an additional 816 shares during the period. Blue Trust Inc. raised its position in shares of QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after acquiring an additional 844 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of QuidelOrtho by 4.4% in the 4th quarter. Alliancebernstein L.P. now owns 24,816 shares of the company’s stock valued at $1,106,000 after purchasing an additional 1,040 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in shares of QuidelOrtho by 14.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,985 shares of the company’s stock valued at $445,000 after purchasing an additional 1,289 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Trading Up 4.4 %

QDEL stock opened at $29.12 on Friday. QuidelOrtho Co. has a one year low of $23.77 and a one year high of $49.45. The company has a market capitalization of $1.96 billion, a PE ratio of -0.96 and a beta of 0.43. The company’s 50 day moving average price is $32.34 and its two-hundred day moving average price is $38.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

QuidelOrtho (NASDAQ:QDEL) last issued its earnings results on Wednesday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. As a group, analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QDEL has been the topic of several recent analyst reports. UBS Group boosted their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada dropped their target price on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. Finally, StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.83.

QuidelOrtho 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.