QuidelOrtho Corporation (NASDAQ:QDEL) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in QuidelOrtho Corporation (NASDAQ:QDEL) by 11.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,773 shares of the company’s stock after purchasing an additional 1,721 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in QuidelOrtho were worth $587,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of QDEL. Sterling Capital Management LLC lifted its position in shares of 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 acquiring an additional 1,601 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of QuidelOrtho by 2.4% in the first quarter. Principal Financial Group Inc. now owns 326,996 shares of the company’s stock valued at $11,435,000 after acquiring an additional 7,788 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of QuidelOrtho by 2.9% in the first quarter. Yousif Capital Management LLC now owns 25,950 shares of the company’s stock valued at $907,000 after acquiring an additional 734 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of QuidelOrtho by 108.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,012 shares of the company’s stock valued at $2,483,000 after acquiring an additional 36,867 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of QuidelOrtho by 36.2% in the fourth quarter. Northern Trust Corp now owns 431,710 shares of the company’s stock valued at $19,233,000 after acquiring an additional 114,850 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on QDEL shares. Citigroup reduced their price objective on QuidelOrtho from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group reduced 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. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Jefferies Financial Group upgraded QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their price objective on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, QuidelOrtho currently has a consensus rating of “Hold” and an average target price of $42.67.

QuidelOrtho Stock Performance

NASDAQ QDEL opened at $23.44 on Thursday. The business’s 50-day moving average price is $28.20 and its 200 day moving average price is $32.74. QuidelOrtho Corporation has a twelve month low of $22.05 and a twelve month high of $49.45. The company has a market capitalization of $1.59 billion, a PE ratio of -3.58 and a beta of -0.04. The company has a current ratio of 1.20, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.11. QuidelOrtho had a positive return on equity of 5.17% and a negative net margin of 16.10%. The firm had revenue of $613.90 million for the quarter, compared to the consensus estimate of $612.36 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts predict that QuidelOrtho Corporation will post 2.3 earnings per share for the current 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.