12,223 Shares in QuidelOrtho Co. (NASDAQ:QDEL) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in QuidelOrtho Co. (NASDAQ:QDEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,223 shares of the company’s stock, valued at approximately $545,000.

A number of other hedge funds have also recently added to or reduced their stakes in QDEL. Point72 Asset Management L.P. acquired a new position in QuidelOrtho in the third quarter worth approximately $34,320,000. Rubric Capital Management LP increased its holdings in QuidelOrtho by 15.2% in the third quarter. Rubric Capital Management LP now owns 4,200,000 shares of the company’s stock worth $191,520,000 after buying an additional 554,410 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in QuidelOrtho in the third quarter worth approximately $19,565,000. Beaconlight Capital LLC acquired a new position in QuidelOrtho in the third quarter worth approximately $18,152,000. Finally, State Street Corp increased its holdings in QuidelOrtho by 16.9% in the third quarter. State Street Corp now owns 1,907,898 shares of the company’s stock worth $87,000,000 after buying an additional 275,522 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on QDEL. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. UBS Group increased their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Jefferies Financial Group began coverage on QuidelOrtho in a report on Tuesday, December 10th. They set a “hold” rating and a $43.00 price target on the stock. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. Finally, William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.20.

QuidelOrtho Stock Up 1.5 %

QDEL opened at $36.12 on Monday. QuidelOrtho Co. has a 1-year low of $29.74 and a 1-year high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -1.19 and a beta of 0.10. The business has a 50 day moving average of $41.89 and a 200-day moving average of $41.94.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. As a group, sell-side analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

QuidelOrtho Company 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.