International Assets Investment Management LLC Grows Stock Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

International Assets Investment Management LLC increased its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL) by 7,410.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,886 shares of the company’s stock after buying an additional 7,781 shares during the period. International Assets Investment Management LLC’s holdings in QuidelOrtho were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in QDEL. Global Retirement Partners LLC boosted its holdings in QuidelOrtho by 109.0% during the third quarter. Global Retirement Partners LLC now owns 347 shares of the company’s stock worth $26,000 after buying an additional 181 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of QuidelOrtho in the third quarter valued at approximately $2,126,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of QuidelOrtho in the third quarter valued at approximately $106,000. Hunter Perkins Capital Management LLC acquired a new stake in shares of QuidelOrtho in the third quarter valued at approximately $360,000. Finally, Denali Advisors LLC grew its position in shares of QuidelOrtho by 622.5% in the third 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 during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Joseph M. Busky purchased 2,150 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the purchase, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

QuidelOrtho Stock Up 1.0 %

Shares of NASDAQ QDEL opened at $40.82 on Thursday. QuidelOrtho Co. has a 1 year low of $37.78 and a 1 year high of $95.02. The firm’s 50 day moving average price is $44.67 and its 200 day moving average price is $60.03. The firm has a market cap of $2.73 billion, a P/E ratio of -255.13 and a beta of 0.11. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 1.57.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 EPS. As a group, sell-side analysts anticipate that QuidelOrtho Co. will post 2.28 earnings per share for the current year.

Analyst Ratings Changes

QDEL has been the topic of several research reports. Royal Bank of Canada lowered their price target on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Raymond James reiterated an “outperform” rating and issued a $76.00 price target (down from $100.00) on shares of QuidelOrtho in a research report on Wednesday, February 14th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $66.00 to $37.00 in a research report on Wednesday, February 14th. Finally, UBS Group reiterated a “sell” rating and issued a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a research report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, QuidelOrtho presently has an average rating of “Hold” and a consensus price target of $61.60.

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.