Shell Asset Management Co. Purchases 730 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Shell Asset Management Co. lifted its position in shares of QuidelOrtho Co. (NASDAQ:QDELGet Rating) by 19.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,577 shares of the company’s stock after acquiring an additional 730 shares during the period. Shell Asset Management Co.’s holdings in QuidelOrtho were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Senvest Management LLC increased its position in QuidelOrtho by 47.3% during the 4th quarter. Senvest Management LLC now owns 1,274,098 shares of the company’s stock worth $171,990,000 after purchasing an additional 409,271 shares in the last quarter. State Street Corp increased its position in QuidelOrtho by 3.1% during the 4th quarter. State Street Corp now owns 1,034,394 shares of the company’s stock worth $139,633,000 after purchasing an additional 31,322 shares in the last quarter. Geode Capital Management LLC increased its position in QuidelOrtho by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 567,341 shares of the company’s stock worth $76,640,000 after purchasing an additional 9,600 shares in the last quarter. Dimensional Fund Advisors LP increased its position in QuidelOrtho by 35.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 509,942 shares of the company’s stock worth $68,833,000 after purchasing an additional 132,500 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in QuidelOrtho by 2.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 493,958 shares of the company’s stock worth $66,679,000 after purchasing an additional 13,427 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Trading Down 1.1 %

QuidelOrtho stock opened at $100.83 on Wednesday. QuidelOrtho Co. has a 1-year low of $88.05 and a 1-year high of $180.06. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 4.26 and a beta of 0.03. The firm’s fifty day moving average price is $99.95 and its two-hundred day moving average price is $102.58.

QuidelOrtho (NASDAQ:QDELGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $11.53 EPS for the quarter, beating the consensus estimate of $9.17 by $2.36. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $865.05 million. QuidelOrtho had a net margin of 43.26% and a return on equity of 56.46%. QuidelOrtho’s revenue for the quarter was up 167.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.27 EPS. On average, research analysts forecast that QuidelOrtho Co. will post 14.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of QuidelOrtho in a research report on Wednesday, July 20th. They issued a “sell” rating and a $86.00 price target for the company. StockNews.com upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Finally, JPMorgan Chase & Co. assumed coverage on shares of QuidelOrtho in a research report on Friday, June 17th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QuidelOrtho currently has a consensus rating of “Moderate Buy” and an average target price of $98.67.

QuidelOrtho 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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