LPL Financial LLC Raises Position in QuidelOrtho Co. (NASDAQ:QDEL)

LPL Financial LLC lifted its stake in QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 26.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,851 shares of the company’s stock after purchasing an additional 3,744 shares during the quarter. LPL Financial LLC’s holdings in QuidelOrtho were worth $1,529,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of QDEL. BlackRock Inc. raised its position in QuidelOrtho by 5.6% in the 3rd quarter. BlackRock Inc. now owns 4,864,100 shares of the company’s stock worth $347,684,000 after purchasing an additional 259,059 shares during the period. Senvest Management LLC increased its stake in QuidelOrtho by 11.1% in the third quarter. Senvest Management LLC now owns 2,507,208 shares of the company’s stock worth $179,215,000 after purchasing an additional 250,716 shares during the period. State Street Corp boosted its stake in shares of QuidelOrtho by 6.3% during the third quarter. State Street Corp now owns 1,487,058 shares of the company’s stock valued at $106,295,000 after purchasing an additional 88,167 shares during the period. Balyasny Asset Management LLC grew its holdings in shares of QuidelOrtho by 172.3% in the third quarter. Balyasny Asset Management LLC now owns 1,228,307 shares of the company’s stock worth $87,799,000 after purchasing an additional 777,187 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in QuidelOrtho by 497.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,082,874 shares of the company’s stock worth $77,404,000 after buying an additional 901,624 shares during the period. Institutional investors own 95.21% of the company’s stock.

QuidelOrtho Price Performance

Shares of QDEL opened at $84.72 on Friday. The company has a 50 day moving average of $88.75 and a two-hundred day moving average of $87.95. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 46.64 and a beta of 0.29. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. QuidelOrtho Co. has a twelve month low of $66.88 and a twelve month high of $108.35.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QDEL shares. Royal Bank of Canada lifted their target price on QuidelOrtho from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Raymond James cut their target price on shares of QuidelOrtho from $136.00 to $130.00 and set a “strong-buy” rating on the stock in a research report on Thursday, February 16th. Finally, StockNews.com initiated coverage on shares of QuidelOrtho in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.83.

QuidelOrtho Profile

(Get Rating)

QuidelOrtho Corp. operates as a vitro diagnostics company. It is focused on developing and manufacturing diagnostic products. The company was founded on May 27, 2022 and is headquartered in San Diego, CA.