QuidelOrtho Corporation $QDEL Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in shares of QuidelOrtho Corporation (NASDAQ:QDEL) by 98.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 463,223 shares of the company’s stock after purchasing an additional 229,938 shares during the period. Allianz Asset Management GmbH owned 0.68% of QuidelOrtho worth $13,642,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of QDEL. Royal Bank of Canada lifted its stake in shares of QuidelOrtho by 1,218.7% during the first quarter. Royal Bank of Canada now owns 80,193 shares of the company’s stock valued at $2,803,000 after buying an additional 74,112 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in QuidelOrtho by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,398 shares of the company’s stock valued at $7,987,000 after acquiring an additional 21,968 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of QuidelOrtho by 210.9% during the 1st quarter. Focus Partners Wealth now owns 20,454 shares of the company’s stock worth $715,000 after purchasing an additional 13,876 shares during the period. Blue Trust Inc. boosted its holdings in shares of QuidelOrtho by 46.4% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $57,000 after purchasing an additional 623 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of QuidelOrtho by 1.8% in the second quarter. Yousif Capital Management LLC now owns 26,428 shares of the company’s stock valued at $762,000 after purchasing an additional 478 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on QDEL shares. UBS Group increased their target price on QuidelOrtho from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price objective on shares of QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, November 7th. Zacks Research raised shares of QuidelOrtho from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QuidelOrtho in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.00.

Insiders Place Their Bets

In other QuidelOrtho news, CEO Brian J. Blaser purchased 23,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $21.34 per share, with a total value of $501,490.00. Following the transaction, the chief executive officer owned 29,533 shares in the company, valued at approximately $630,234.22. This trade represents a 389.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph M. Busky acquired 4,770 shares of the business’s stock in a transaction on Monday, November 24th. The stock was bought at an average cost of $26.06 per share, for a total transaction of $124,306.20. Following the completion of the transaction, the chief financial officer directly owned 6,920 shares of the company’s stock, valued at $180,335.20. This trade represents a 221.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 29,390 shares of company stock valued at $657,340. 0.79% of the stock is owned by corporate insiders.

QuidelOrtho Stock Up 1.4%

QDEL opened at $29.10 on Friday. The firm has a 50 day moving average price of $29.59 and a 200 day moving average price of $27.71. The company has a market cap of $1.98 billion, a PE ratio of -1.71 and a beta of 0.68. QuidelOrtho Corporation has a 1 year low of $19.50 and a 1 year high of $43.92. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.98 and a current ratio of 1.78.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. QuidelOrtho had a negative net margin of 42.53% and a positive return on equity of 5.75%. The firm had revenue of $699.90 million for the quarter, compared to analysts’ expectations of $667.45 million. During the same period in the previous year, the company posted $0.85 earnings per share. QuidelOrtho’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts expect that QuidelOrtho Corporation will post 2.3 earnings per share for the current year.

QuidelOrtho Profile

QuidelOrtho is a global diagnostics company formed through the merger of Quidel Corporation and Ortho Clinical Diagnostics. The combined entity develops, manufactures and markets a broad portfolio of rapid and high-throughput diagnostic solutions across immunoassay, molecular diagnostics and transfusion medicine. Its offerings span point-of-care platforms for acute care testing as well as large-scale automated systems designed for clinical laboratories and blood banks.

The company’s product range includes rapid antigen and antibody tests for infectious diseases, molecular assays utilizing nucleic acid amplification technology, and integrated immunodiagnostic analyzers.