Juncture Wealth Strategies LLC acquired a new position in shares of QuidelOrtho Co. (NASDAQ:QDEL – Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,502 shares of the company’s stock, valued at approximately $870,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BTC Capital Management Inc. grew its stake in QuidelOrtho by 4.2% during the 2nd quarter. BTC Capital Management Inc. now owns 3,266 shares of the company’s stock worth $270,000 after buying an additional 131 shares during the last quarter. Nordea Investment Management AB grew its stake in QuidelOrtho by 7.7% during the 2nd quarter. Nordea Investment Management AB now owns 48,111 shares of the company’s stock worth $3,985,000 after buying an additional 3,440 shares during the last quarter. Aurora Investment Counsel grew its stake in QuidelOrtho by 4.1% during the 1st quarter. Aurora Investment Counsel now owns 10,351 shares of the company’s stock worth $922,000 after buying an additional 405 shares during the last quarter. Putnam Investments LLC bought a new position in QuidelOrtho during the 1st quarter worth $4,037,000. Finally, Ameriprise Financial Inc. grew its stake in QuidelOrtho by 14.3% during the 1st quarter. Ameriprise Financial Inc. now owns 82,880 shares of the company’s stock worth $7,384,000 after buying an additional 10,345 shares during the last quarter. 93.87% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on QDEL. JPMorgan Chase & Co. lowered their price objective on QuidelOrtho from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $136.00 price target on shares of QuidelOrtho in a research report on Wednesday, August 9th. Raymond James reduced their price target on QuidelOrtho from $130.00 to $110.00 and set a “strong-buy” rating for the company in a research report on Tuesday, August 15th. Finally, StockNews.com assumed coverage on QuidelOrtho in a research report on Thursday, August 17th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QuidelOrtho currently has a consensus rating of “Moderate Buy” and an average price target of $119.17.
QuidelOrtho Price Performance
Shares of QuidelOrtho stock traded down $1.59 during trading on Monday, hitting $74.15. The stock had a trading volume of 82,637 shares, compared to its average volume of 458,028. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.66 and a quick ratio of 0.97. The firm has a market cap of $4.95 billion, a P/E ratio of 114.76 and a beta of 0.27. The business has a fifty day moving average of $81.11 and a two-hundred day moving average of $84.96. QuidelOrtho Co. has a fifty-two week low of $66.88 and a fifty-two week high of $102.00.
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $665.10 million for the quarter, compared to analyst estimates of $615.11 million. QuidelOrtho had a return on equity of 7.65% and a net margin of 1.43%. QuidelOrtho’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.11 earnings per share. On average, sell-side analysts expect that QuidelOrtho Co. will post 4.96 earnings per share for the current fiscal year.
QuidelOrtho Company Profile
QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies and solutions. 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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