Cetera Trust Company N.A Makes New $108,000 Investment in QuidelOrtho Co. (NASDAQ:QDEL)

Cetera Trust Company N.A acquired a new stake in QuidelOrtho Co. (NASDAQ:QDEL) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,460 shares of the company’s stock, valued at approximately $108,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Associates Ltd. boosted its stake in shares of QuidelOrtho by 167.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 85,375 shares of the company’s stock valued at $6,292,000 after purchasing an additional 53,446 shares during the period. Wellington Management Group LLP boosted its stake in shares of QuidelOrtho by 11.2% in the third quarter. Wellington Management Group LLP now owns 760,632 shares of the company’s stock valued at $55,557,000 after purchasing an additional 76,866 shares during the period. Comerica Bank purchased a new position in shares of QuidelOrtho in the third quarter valued at approximately $5,156,000. Citigroup Inc. boosted its stake in shares of QuidelOrtho by 25.0% in the third quarter. Citigroup Inc. now owns 5,808 shares of the company’s stock valued at $424,000 after purchasing an additional 1,161 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of QuidelOrtho by 11.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,559 shares of the company’s stock valued at $1,884,000 after purchasing an additional 2,727 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Trading Down 0.1 %

QDEL stock opened at $39.08 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.57 and a quick ratio of 0.88. QuidelOrtho Co. has a twelve month low of $37.78 and a twelve month high of $95.02. The company’s 50 day moving average is $45.29 and its two-hundred day moving average is $60.38.

QuidelOrtho (NASDAQ:QDEL) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.84). QuidelOrtho had a positive return on equity of 5.54% and a negative net margin of 0.34%. The company had revenue of $742.60 million for the quarter, compared to analyst estimates of $796.91 million. During the same period in the previous year, the business posted $1.74 EPS. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, equities research analysts expect that QuidelOrtho Co. will post 2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Joseph M. Busky acquired 2,150 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $46.35 per share, with a total value of $99,652.50. Following the completion of the acquisition, the chief financial officer now owns 2,150 shares in the company, valued at $99,652.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QDEL. JPMorgan Chase & Co. lowered shares of QuidelOrtho from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $66.00 to $37.00 in a research note on Wednesday, February 14th. William Blair reaffirmed a “market perform” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. Craig Hallum reaffirmed a “hold” rating on shares of QuidelOrtho in a report on Wednesday, February 14th. UBS Group reaffirmed a “sell” rating and issued a $42.00 target price (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $76.00 target price (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.60.

About QuidelOrtho

QuidelOrtho Corporation provides diagnostic testing 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.