Cerity Partners LLC Acquires 14,898 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Cerity Partners LLC boosted its position in QuidelOrtho Co. (NASDAQ:QDEL) by 112.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,164 shares of the company’s stock after purchasing an additional 14,898 shares during the period. Cerity Partners LLC’s holdings in QuidelOrtho were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Merit Financial Group LLC bought a new position in QuidelOrtho in the 4th quarter valued at $301,000. Principal Financial Group Inc. boosted its position in shares of QuidelOrtho by 64.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,037 shares of the company’s stock worth $12,405,000 after purchasing an additional 106,642 shares in the last quarter. Geode Capital Management LLC increased its stake in QuidelOrtho by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 920,703 shares of the company’s stock valued at $41,996,000 after purchasing an additional 16,059 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in QuidelOrtho by 22.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,411 shares of the company’s stock valued at $2,424,000 after purchasing an additional 9,956 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its stake in QuidelOrtho by 126.5% during the 4th quarter. Moody National Bank Trust Division now owns 37,868 shares of the company’s stock valued at $1,687,000 after acquiring an additional 21,147 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Stock Performance

Shares of QuidelOrtho stock opened at $25.17 on Friday. The business’s 50 day moving average price is $35.42 and its 200 day moving average price is $39.65. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -0.83 and a beta of 0.43. QuidelOrtho Co. has a one year low of $24.44 and a one year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. On average, research analysts predict that QuidelOrtho Co. will post 2.3 EPS for the current year.

Analyst Ratings Changes

QDEL has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. StockNews.com lowered QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Royal Bank of Canada dropped their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.20.

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.