First Horizon Advisors Inc. Buys 158 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

First Horizon Advisors Inc. grew its stake in shares of QuidelOrtho Co. (NASDAQ:QDEL – Get Rating) by 59.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 426 shares of the company’s stock after buying an additional 158 shares during the quarter. First Horizon Advisors Inc.’s holdings in QuidelOrtho were worth $30,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Carlyle Group Inc. purchased a new stake in QuidelOrtho in the second quarter worth approximately $1,210,881,000. Price T Rowe Associates Inc. MD lifted its stake in QuidelOrtho by 24.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,645,281 shares of the company’s stock worth $742,968,000 after purchasing an additional 1,477,985 shares during the last quarter. JPMorgan Chase & Co. boosted its position in QuidelOrtho by 878.5% during the second quarter. JPMorgan Chase & Co. now owns 868,201 shares of the company’s stock valued at $84,372,000 after buying an additional 779,472 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of QuidelOrtho by 258.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 719,200 shares of the company’s stock valued at $69,891,000 after buying an additional 518,378 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of QuidelOrtho by 934.5% in the second quarter. Lazard Asset Management LLC now owns 514,322 shares of the company’s stock worth $49,981,000 after buying an additional 464,604 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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QuidelOrtho Stock Performance

NASDAQ:QDEL opened at $85.81 on Wednesday. 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 Co. has a 1 year low of $66.88 and a 1 year high of $120.61. The stock’s 50 day simple moving average is $86.68 and its two-hundred day simple moving average is $84.79. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 4.56 and a beta of 0.27.

Wall Street Analyst Weigh In

Several analysts have weighed in on QDEL shares. Craig Hallum lowered their price objective on QuidelOrtho to $173.00 in a research report on Wednesday, December 14th. Citigroup upgraded shares of QuidelOrtho from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $125.00 in a report on Monday, December 12th. Royal Bank of Canada started coverage on shares of QuidelOrtho in a research report on Tuesday, December 6th. They set an “outperform” rating and a $125.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.00.

About QuidelOrtho

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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.

Further Reading

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