QuidelOrtho Co. (NASDAQ:QDEL) Stock Position Cut by Palisade Capital Management LLC NJ

Palisade Capital Management LLC NJ lessened its stake in QuidelOrtho Co. (NASDAQ:QDELGet Rating) by 24.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the company’s stock after selling 950 shares during the period. Palisade Capital Management LLC NJ’s holdings in QuidelOrtho were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Virginia Retirement Systems ET AL grew its position in QuidelOrtho by 0.7% in the 1st quarter. Virginia Retirement Systems ET AL now owns 15,100 shares of the company’s stock valued at $1,698,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its position in QuidelOrtho by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the company’s stock valued at $1,149,000 after buying an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in QuidelOrtho by 2.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,809 shares of the company’s stock valued at $653,000 after buying an additional 128 shares in the last quarter. Gladius Capital Management LP lifted its holdings in QuidelOrtho by 21.0% in the 1st quarter. Gladius Capital Management LP now owns 880 shares of the company’s stock valued at $99,000 after acquiring an additional 153 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in QuidelOrtho by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 4,541 shares of the company’s stock valued at $610,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

QuidelOrtho Trading Down 5.1 %

QDEL stock opened at $92.20 on Friday. QuidelOrtho Co. has a one year low of $88.05 and a one year high of $180.06. The firm has a market capitalization of $3.86 billion, a PE ratio of 3.91 and a beta of 0.03. The firm has a 50-day moving average of $99.73 and a two-hundred day moving average of $102.33.

QuidelOrtho (NASDAQ:QDELGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $11.53 EPS for the quarter, beating analysts’ consensus estimates of $9.17 by $2.36. QuidelOrtho had a net margin of 36.43% and a return on equity of 58.17%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $865.05 million. During the same period in the prior year, the firm earned $4.27 earnings per share. The business’s quarterly revenue was up 167.0% on a year-over-year basis. On average, equities research analysts anticipate that QuidelOrtho Co. will post 14.92 earnings per share for the current year.

Analyst Ratings Changes

QDEL has been the subject of a number of research analyst reports. UBS Group initiated coverage on shares of QuidelOrtho in a report on Wednesday, July 20th. They issued a “sell” rating and a $86.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of QuidelOrtho in a report on Friday, June 17th. They issued a “neutral” rating for the company. Finally, StockNews.com raised shares of QuidelOrtho from a “hold” rating to a “buy” rating in a report on Friday, May 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

QuidelOrtho Company Profile

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QuidelOrtho Corporation provides various in vitro diagnostics products worldwide. The company's product portfolio covers a range of point-of-care tests for infectious diseases, critical cardiac health and autoimmune biomarkers, and clinical and at-home products to detect COVID-19. It provides visually-read lateral flow products in infectious disease and reproductive health; direct fluorescent antibodies in infectious disease and virology; micro-titer production with a focus on bone and complement pathway markets; fluorescent immunoassay products; molecular diagnostic products comprising Savanna, an integrated molecular diagnostic system; immunodiagnostics, clinical chemistry, and integrated testing systems to serve diagnostic labs of all sizes; immunodiagnostic donor screening systems and services that drive blood safety; pre-transfusion testing that automates blood bank workload with software to standardize operations, simplify tasks, and improve productivity; and Ortho Care services and informatics products.

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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