QuidelOrtho Co. (NASDAQ:QDEL) Shares Bought by LGT Capital Partners LTD.

LGT Capital Partners LTD. increased its holdings in QuidelOrtho Co. (NASDAQ:QDEL) by 69.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 954,466 shares of the company’s stock after acquiring an additional 392,790 shares during the quarter. QuidelOrtho makes up about 2.1% of LGT Capital Partners LTD.’s holdings, making the stock its 15th biggest position. LGT Capital Partners LTD. owned 1.43% of QuidelOrtho worth $70,344,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of QDEL. T. Rowe Price Investment Management Inc. increased its holdings in shares of QuidelOrtho by 2.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,506,473 shares of the company’s stock valued at $557,410,000 after purchasing an additional 160,782 shares during the period. Senvest Management LLC lifted its stake in shares of QuidelOrtho by 7.6% in the 3rd quarter. Senvest Management LLC now owns 3,330,278 shares of the company’s stock worth $243,244,000 after acquiring an additional 235,000 shares during the period. State Street Corp increased its stake in shares of QuidelOrtho by 0.9% during the second quarter. State Street Corp now owns 1,554,116 shares of the company’s stock worth $128,774,000 after acquiring an additional 14,591 shares during the period. Burgundy Asset Management Ltd. raised its holdings in QuidelOrtho by 69.1% during the third quarter. Burgundy Asset Management Ltd. now owns 1,350,032 shares of the company’s stock worth $98,606,000 after purchasing an additional 551,524 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in QuidelOrtho by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 1,271,935 shares of the company’s stock valued at $92,902,000 after purchasing an additional 80,218 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

QuidelOrtho Trading Down 0.7 %

Shares of QDEL stock opened at $47.94 on Friday. QuidelOrtho Co. has a twelve month low of $41.75 and a twelve month high of $98.67. The firm has a 50-day moving average price of $54.57 and a 200 day moving average price of $64.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88.

QuidelOrtho (NASDAQ:QDEL) last released its earnings results on Tuesday, February 13th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.84). The firm had revenue of $742.60 million during 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 firm’s revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 earnings per share. As a group, equities research analysts expect that QuidelOrtho Co. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at QuidelOrtho

In other news, CFO Joseph M. Busky acquired 2,150 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $99,652.50. Following the acquisition, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

QDEL has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded QuidelOrtho from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $66.00 to $37.00 in a research note on Wednesday, February 14th. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Citigroup reissued a “neutral” rating and set a $72.00 price objective (down previously from $95.00) on shares of QuidelOrtho in a report on Monday, December 11th. UBS Group reaffirmed a “sell” rating and issued a $42.00 target price (down from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Finally, Raymond James restated an “outperform” rating and issued a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, QuidelOrtho presently has an average rating of “Hold” and a consensus price target of $61.60.

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.