Wilbanks Smith & Thomas Asset Management LLC Acquires Shares of 3,075 QuidelOrtho Co. (NASDAQ:QDEL)

Wilbanks Smith & Thomas Asset Management LLC bought a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,075 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QDEL. Cetera Trust Company N.A acquired a new stake in QuidelOrtho during the 4th quarter worth approximately $108,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of QuidelOrtho during the third quarter worth $123,000. Bfsg LLC purchased a new position in QuidelOrtho in the 4th quarter valued at $146,000. William Blair Investment Management LLC acquired a new position in QuidelOrtho in the 3rd quarter valued at $210,000. Finally, Perigon Wealth Management LLC purchased a new position in QuidelOrtho during the 4th quarter worth $232,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

Insider Activity

In other news, CFO Joseph M. Busky purchased 2,150 shares of the 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 completion of 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 filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group reiterated a “sell” rating and set a $42.00 price target (down from $70.00) on shares of QuidelOrtho in a research note on Monday, March 4th. Craig Hallum restated a “hold” rating on shares of QuidelOrtho in a research note on Wednesday, February 14th. Raymond James reaffirmed an “outperform” rating and set a $76.00 price objective (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. William Blair reissued a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Royal Bank of Canada lowered their target price on shares of QuidelOrtho from $130.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, QuidelOrtho presently has an average rating of “Hold” and a consensus target price of $61.60.

QuidelOrtho Stock Performance

Shares of QDEL opened at $42.50 on Friday. QuidelOrtho Co. has a 12-month low of $37.78 and a 12-month high of $94.86. The stock has a market cap of $2.84 billion, a P/E ratio of -265.63 and a beta of 0.17. The company has a current ratio of 1.57, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $44.01 and a two-hundred day moving average of $58.72.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.84). The company had revenue of $742.60 million for the quarter, compared to analyst estimates of $796.91 million. QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 earnings per share. As a group, research analysts predict that QuidelOrtho Co. will post 2.23 EPS for the current fiscal year.

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.