Bank of Montreal Can Has $504,000 Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

Bank of Montreal Can decreased its stake in QuidelOrtho Co. (NASDAQ:QDEL) by 92.0% during the 4th quarter, HoldingsChannel reports. The fund owned 11,305 shares of the company’s stock after selling 130,684 shares during the period. Bank of Montreal Can’s holdings in QuidelOrtho were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cerity Partners LLC raised its position in shares of QuidelOrtho by 112.3% during the fourth quarter. Cerity Partners LLC now owns 28,164 shares of the company’s stock valued at $1,259,000 after buying an additional 14,898 shares during the last quarter. Geode Capital Management LLC increased its stake in QuidelOrtho by 17.7% during the fourth quarter. Geode Capital Management LLC now owns 1,083,461 shares of the company’s stock valued at $48,285,000 after acquiring an additional 162,758 shares during the period. Alliancebernstein L.P. raised its holdings in QuidelOrtho by 4.4% in the 4th quarter. Alliancebernstein L.P. now owns 24,816 shares of the company’s stock valued at $1,106,000 after acquiring an additional 1,040 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of QuidelOrtho by 39.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,588 shares of the company’s stock worth $427,000 after purchasing an additional 2,721 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of QuidelOrtho during the 4th quarter worth approximately $34,171,000. Institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Down 2.4 %

Shares of QDEL opened at $24.56 on Tuesday. The business’s 50 day simple moving average is $34.78 and its 200-day simple moving average is $39.32. QuidelOrtho Co. has a one year low of $23.77 and a one year high of $49.45. The company has a market capitalization of $1.66 billion, a P/E ratio of -0.81 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69.

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 predict that QuidelOrtho Co. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QDEL has been the topic of a number of recent research reports. StockNews.com downgraded shares of QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. UBS Group upped their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada cut their price target on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their target price on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.83.

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.