Xponance Inc. Acquires 344 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Xponance Inc. raised its holdings in shares of QuidelOrtho Co. (NASDAQ:QDELGet Rating) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,322 shares of the company’s stock after acquiring an additional 344 shares during the quarter. Xponance Inc.’s holdings in QuidelOrtho were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings 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 acquiring an additional 258 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of QuidelOrtho by 177.3% in the second quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 195 shares during the period. New Century Advisors LLC increased its holdings in shares of QuidelOrtho by 52.6% in the second quarter. New Century Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after purchasing an additional 121 shares during the period. Eagle Bay Advisors LLC increased its holdings in shares of QuidelOrtho by 174.2% in the second quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock worth $34,000 after purchasing an additional 223 shares during the period. Finally, Islay Capital Management LLC increased its holdings in shares of QuidelOrtho by 14.5% in the second quarter. Islay Capital Management LLC now owns 1,035 shares of the company’s stock worth $101,000 after purchasing an additional 131 shares during the period. Institutional investors own 95.21% of the company’s stock.

QuidelOrtho Stock Down 5.1 %

QDEL opened at $86.16 on Tuesday. The business’s fifty day simple moving average is $88.17 and its 200 day simple moving average is $87.57. QuidelOrtho Co. has a 52 week low of $66.88 and a 52 week high of $131.88. The stock has a market cap of $5.69 billion, a PE ratio of 4.58 and a beta of 0.29. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 0.52.

QuidelOrtho (NASDAQ:QDELGet Rating) last issued its earnings results on Wednesday, November 2nd. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $0.48 by $1.35. QuidelOrtho had a return on equity of 30.18% and a net margin of 26.67%. The company had revenue of $783.80 million during the quarter. As a group, research analysts expect that QuidelOrtho Co. will post 13.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QDEL has been the topic of several research analyst reports. Citigroup raised shares of QuidelOrtho from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $125.00 in a report on Monday, December 12th. UBS Group raised shares of QuidelOrtho from a “sell” rating to a “neutral” rating and set a $86.00 price target on the stock in a report on Friday, October 14th. StockNews.com began coverage on shares of QuidelOrtho in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Craig Hallum reduced their target price on QuidelOrtho to $173.00 in a research note on Wednesday, December 14th. Finally, JPMorgan Chase & Co. reduced their target price on QuidelOrtho from $100.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

QuidelOrtho Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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