Wipfli Financial Advisors LLC Purchases New Shares in QuidelOrtho Co. (NASDAQ:QDEL)

Wipfli Financial Advisors LLC purchased a new stake in shares of QuidelOrtho Co. (NASDAQ:QDELGet Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 765 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Texas Permanent School Fund raised its holdings in QuidelOrtho by 7.9% during the 3rd quarter. Texas Permanent School Fund now owns 39,005 shares of the company’s stock valued at $2,788,000 after buying an additional 2,850 shares during the period. Raymond James & Associates increased its stake in QuidelOrtho by 54.6% in the third quarter. Raymond James & Associates now owns 23,361 shares of the company’s stock worth $1,670,000 after purchasing an additional 8,247 shares during the period. Xponance Inc. increased its stake in QuidelOrtho by 5.8% in the third quarter. Xponance Inc. now owns 6,322 shares of the company’s stock worth $452,000 after purchasing an additional 344 shares during the period. State of Michigan Retirement System increased its stake in QuidelOrtho by 7.1% in the third quarter. State of Michigan Retirement System now owns 13,627 shares of the company’s stock worth $974,000 after purchasing an additional 900 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in QuidelOrtho by 4.7% in the third quarter. State of Alaska Department of Revenue now owns 7,524 shares of the company’s stock worth $537,000 after purchasing an additional 340 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

QuidelOrtho Price Performance

Shares of QDEL stock opened at $84.58 on Monday. QuidelOrtho Co. has a 1-year low of $66.88 and a 1-year high of $120.61. The stock’s 50-day moving average is $87.76 and its 200 day moving average is $87.12. The company has a market cap of $5.59 billion, a P/E ratio of 4.50 and a beta of 0.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.66 and a quick ratio of 1.04.

QuidelOrtho (NASDAQ:QDELGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter. Research analysts predict that QuidelOrtho Co. will post 13.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QDEL. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and increased their target price for the stock from $90.00 to $125.00 in a research note on Monday, December 12th. Craig Hallum reduced their target price on QuidelOrtho to $173.00 in a research note on Wednesday, December 14th. StockNews.com initiated coverage on QuidelOrtho in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada initiated coverage on QuidelOrtho in a research report on Tuesday, December 6th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on QuidelOrtho from $100.00 to $93.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.00.

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.

See Also

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Institutional Ownership by Quarter for QuidelOrtho (NASDAQ:QDEL)

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