QuidelOrtho Corporation $QDEL Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its holdings in QuidelOrtho Corporation (NASDAQ:QDEL) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,813 shares of the company’s stock after acquiring an additional 4,103 shares during the quarter. Northern Trust Corp owned 0.65% of QuidelOrtho worth $15,240,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in QuidelOrtho by 42.4% in the first quarter. American Century Companies Inc. now owns 1,588,645 shares of the company’s stock worth $55,555,000 after purchasing an additional 473,094 shares during the period. Invesco Ltd. lifted its position in QuidelOrtho by 10.6% in the first quarter. Invesco Ltd. now owns 3,813,833 shares of the company’s stock worth $133,370,000 after purchasing an additional 366,387 shares during the period. Engine Capital Management LP acquired a new stake in QuidelOrtho in the fourth quarter worth approximately $14,773,000. Balyasny Asset Management L.P. acquired a new stake in QuidelOrtho in the fourth quarter worth approximately $14,247,000. Finally, Assenagon Asset Management S.A. acquired a new stake in QuidelOrtho in the first quarter worth approximately $10,915,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Trading Down 2.3%

QuidelOrtho stock opened at $27.61 on Thursday. The company has a 50 day moving average price of $27.08 and a 200 day moving average price of $30.49. QuidelOrtho Corporation has a 52 week low of $22.05 and a 52 week high of $49.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.12. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -4.22 and a beta of 0.14.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.11. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The firm had revenue of $613.90 million during the quarter, compared to analyst estimates of $612.36 million. During the same quarter last year, the business posted ($0.07) EPS. The company’s revenue was down 3.6% on a year-over-year basis. Research analysts forecast that QuidelOrtho Corporation will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on QDEL shares. Citigroup cut their target price on QuidelOrtho from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Jefferies Financial Group upgraded QuidelOrtho from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Thursday, May 8th. UBS Group cut their target price on QuidelOrtho from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $42.17.

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.