Cetera Trust Company N.A Takes $108,000 Position in QuidelOrtho Co. (NASDAQ:QDEL)

Cetera Trust Company N.A purchased a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,460 shares of the company’s stock, valued at approximately $108,000.

Several other large investors have also modified their holdings of QDEL. Global Retirement Partners LLC raised its holdings in shares of QuidelOrtho by 109.0% in the 3rd quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock valued at $26,000 after purchasing an additional 181 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of QuidelOrtho in the 3rd quarter valued at about $106,000. C M Bidwell & Associates Ltd. bought a new stake in shares of QuidelOrtho in the 3rd quarter valued at about $123,000. Denali Advisors LLC raised its holdings in shares of QuidelOrtho by 622.5% in the 3rd quarter. Denali Advisors LLC now owns 2,312 shares of the company’s stock valued at $169,000 after purchasing an additional 1,992 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of QuidelOrtho in the 3rd quarter valued at about $210,000. Institutional investors own 99.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on QDEL shares. Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. JPMorgan Chase & Co. lowered shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $66.00 to $37.00 in a research note on Wednesday, February 14th. Raymond James reiterated an “outperform” rating and set a $76.00 price objective (down previously from $100.00) on shares of QuidelOrtho in a research note on Wednesday, February 14th. Royal Bank of Canada reduced their price objective on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Finally, UBS Group reiterated a “sell” rating and set a $42.00 price objective (down previously from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, QuidelOrtho currently has a consensus rating of “Hold” and an average target price of $61.60.

QuidelOrtho Trading Down 0.1 %

NASDAQ:QDEL opened at $39.08 on Tuesday. QuidelOrtho Co. has a twelve month low of $37.78 and a twelve month high of $95.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88. The company’s 50 day moving average is $45.29 and its two-hundred day moving average is $60.38.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.84). The company had revenue of $742.60 million for the quarter, compared to analysts’ expectations of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 EPS. On average, sell-side analysts expect that QuidelOrtho Co. will post 2.28 EPS for the current fiscal year.

Insider Activity

In other QuidelOrtho news, CFO Joseph M. Busky acquired 2,150 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were acquired at an average cost of $46.35 per share, with a total value of $99,652.50. Following the acquisition, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $99,652.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

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.