10,269 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new stake in QuidelOrtho Co. (NASDAQ:QDEL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,269 shares of the company’s stock, valued at approximately $457,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of QuidelOrtho in the 4th quarter valued at about $43,000. Blue Trust Inc. boosted its holdings in shares of QuidelOrtho by 188.0% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock valued at $58,000 after purchasing an additional 844 shares in the last quarter. Spire Wealth Management bought a new position in QuidelOrtho in the fourth quarter valued at about $74,000. KBC Group NV boosted its position in QuidelOrtho by 122.9% in the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after buying an additional 1,895 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in QuidelOrtho by 75.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company’s stock worth $166,000 after acquiring an additional 1,601 shares during the last quarter. 99.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QDEL. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Royal Bank of Canada cut their target price on 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. reduced their price objective on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Jefferies Financial Group raised QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Thursday, May 8th. Finally, UBS Group reduced their price objective on shares of QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.33.

QuidelOrtho Trading Down 1.5%

QDEL stock opened at $29.74 on Monday. 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 Co. has a one year low of $23.77 and a one year high of $49.45. The company’s 50 day moving average price is $30.44 and its two-hundred day moving average price is $37.71. The company has a market capitalization of $2.01 billion, a PE ratio of -0.98 and a beta of 0.13.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. The firm had revenue of $692.80 million during the quarter, compared to analyst estimates of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, analysts predict that QuidelOrtho Co. will post 2.3 earnings per share for the current fiscal year.

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.