QuidelOrtho Co. (NASDAQ:QDEL) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. decreased its position in shares of QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 39.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,469 shares of the company’s stock after selling 9,445 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in QuidelOrtho were worth $1,034,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its position in shares of 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 last quarter. Parkside Financial Bank & Trust lifted its position in QuidelOrtho by 177.3% in the second quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 195 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in QuidelOrtho by 174.2% in the second quarter. Eagle Bay Advisors LLC now owns 351 shares of the company’s stock valued at $34,000 after buying an additional 223 shares during the last quarter. Islay Capital Management LLC lifted its position in QuidelOrtho by 14.5% in the second quarter. Islay Capital Management LLC now owns 1,035 shares of the company’s stock valued at $101,000 after buying an additional 131 shares during the last quarter. Finally, Gladius Capital Management LP lifted its position in QuidelOrtho by 36.0% in the second quarter. Gladius Capital Management LP now owns 1,197 shares of the company’s stock valued at $117,000 after buying an additional 317 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

QuidelOrtho Stock Up 2.1 %

QDEL stock opened at $88.13 on Friday. The company’s 50 day moving average price is $87.36 and its 200 day moving average price is $86.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.66. QuidelOrtho Co. has a fifty-two week low of $66.88 and a fifty-two week high of $120.61. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 4.69 and a beta of 0.29.

QuidelOrtho (NASDAQ:QDEL – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $1.35. QuidelOrtho had a net margin of 26.67% and a return on equity of 30.18%. The firm had revenue of $783.80 million for the quarter. On average, equities research analysts anticipate that QuidelOrtho Co. will post 13.23 EPS for the current fiscal year.

Analyst Ratings Changes

QDEL has been the topic of a number of recent analyst reports. UBS Group raised shares of QuidelOrtho from a “sell” rating to a “neutral” rating and set a $86.00 target price on the stock in a research report on Friday, October 14th. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $125.00 in a research note on Monday, December 12th. Royal Bank of Canada began coverage on shares of QuidelOrtho in a research note on Tuesday, December 6th. They set an “outperform” rating and a $125.00 price target on the stock. StockNews.com began coverage on shares of QuidelOrtho in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of QuidelOrtho from $100.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Three equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.00.

QuidelOrtho 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.