M&T Bank Corp Has $332,000 Stock Position in QuidelOrtho Corporation (NASDAQ:QDEL)

M&T Bank Corp lowered its stake in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 76.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,503 shares of the company’s stock after selling 31,441 shares during the quarter. M&T Bank Corp’s holdings in QuidelOrtho were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of QDEL. Quarry LP bought a new stake in QuidelOrtho during the 4th quarter worth approximately $43,000. True Wealth Design LLC raised its stake in QuidelOrtho by 300.7% in the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after purchasing an additional 806 shares in the last quarter. State of Wyoming acquired a new position in QuidelOrtho in the fourth quarter valued at about $164,000. Sterling Capital Management LLC raised its stake in QuidelOrtho by 75.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,726 shares of the company’s stock valued at $166,000 after purchasing an additional 1,601 shares in the last quarter. Finally, Humankind Investments LLC bought a new position in QuidelOrtho in the fourth quarter valued at about $211,000. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $26.68 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.20 and a quick ratio of 0.66. The firm’s fifty day moving average price is $30.53 and its two-hundred day moving average price is $34.75. QuidelOrtho Corporation has a one year low of $23.77 and a one year high of $49.45. The company has a market cap of $1.80 billion, a P/E ratio of -5.37 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.13. QuidelOrtho had a negative net margin of 12.07% and a positive return on equity of 4.71%. The business had revenue of $692.80 million during the quarter, compared to the consensus estimate of $694.97 million. During the same quarter last year, the firm posted $0.44 EPS. QuidelOrtho’s revenue was down 2.6% compared to the same quarter last year. Equities analysts expect that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

QDEL has been the subject of several research reports. Wall Street Zen upgraded QuidelOrtho from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. UBS Group decreased their price objective on QuidelOrtho from $45.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Jefferies Financial Group raised QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.33.

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.