QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA trimmed its position in shares of QuidelOrtho Co. (NASDAQ:QDELGet Rating) by 78.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,522 shares of the company’s stock after selling 12,845 shares during the period. Pictet Asset Management SA’s holdings in QuidelOrtho were worth $342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in QuidelOrtho by 2,580.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 268 shares of the company’s stock valued at $26,000 after purchasing an additional 258 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of QuidelOrtho by 177.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 195 shares during the period. New Century Advisors LLC lifted its stake in shares of QuidelOrtho by 52.6% in the 2nd quarter. New Century Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after acquiring an additional 121 shares during the period. Islay Capital Management LLC lifted its stake in shares of QuidelOrtho by 14.5% in the 2nd quarter. Islay Capital Management LLC now owns 1,035 shares of the company’s stock worth $101,000 after acquiring an additional 131 shares during the period. Finally, Rise Advisors LLC acquired a new stake in shares of QuidelOrtho in the 2nd quarter worth approximately $123,000. 87.20% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Stock Down 0.5 %

NASDAQ QDEL opened at $88.15 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.66 and a quick ratio of 1.04. The company’s 50 day simple moving average is $81.03 and its 200 day simple moving average is $89.95. QuidelOrtho Co. has a 12 month low of $66.88 and a 12 month high of $180.06. The company has a market capitalization of $5.82 billion, a P/E ratio of 4.69 and a beta of 0.28.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of QuidelOrtho in a research note on Monday, September 19th. They issued a “neutral” rating and a $90.00 price target for the company. UBS Group raised shares of QuidelOrtho from a “sell” rating to a “neutral” rating and set a $86.00 price target for the company in a research note on Friday, October 14th. JPMorgan Chase & Co. reduced their price target on shares of QuidelOrtho from $100.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Finally, StockNews.com assumed coverage on shares of QuidelOrtho in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $99.75.

About QuidelOrtho

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QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies across the continuum of healthcare testing needs. 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.

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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