Victory Capital Management Inc. increased its holdings in QuidelOrtho Co. (NASDAQ:QDEL – Free Report) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,110 shares of the company’s stock after purchasing an additional 314 shares during the quarter. Victory Capital Management Inc.’s holdings in QuidelOrtho were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Seizert Capital Partners LLC raised its position in QuidelOrtho by 4.9% in the 2nd quarter. Seizert Capital Partners LLC now owns 20,982 shares of the company’s stock worth $1,739,000 after purchasing an additional 989 shares during the period. Virtu Financial LLC purchased a new position in QuidelOrtho in the 2nd quarter worth $331,000. Mendota Financial Group LLC purchased a new position in QuidelOrtho in the 2nd quarter worth $94,000. Pinnacle Associates Ltd. purchased a new position in QuidelOrtho in the 2nd quarter worth $2,853,000. Finally, Leeward Investments LLC MA purchased a new position in shares of QuidelOrtho in the second quarter valued at about $10,439,000. Hedge funds and other institutional investors own 93.87% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Raymond James decreased their price objective on shares of QuidelOrtho from $130.00 to $110.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, August 15th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of QuidelOrtho in a research report on Tuesday, September 19th. StockNews.com assumed coverage on shares of QuidelOrtho in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of QuidelOrtho from $91.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Two 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.60.
QuidelOrtho Trading Down 2.2 %
Shares of QDEL opened at $60.98 on Monday. The firm’s 50-day moving average price is $73.35 and its 200-day moving average price is $81.26. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 92.40 and a beta of 0.30. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. QuidelOrtho Co. has a 1-year low of $60.79 and a 1-year high of $102.00.
QuidelOrtho (NASDAQ:QDEL – Get Free Report) last announced its earnings results on Tuesday, August 8th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 1.43% and a return on equity of 7.65%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.11 EPS. Sell-side analysts anticipate that QuidelOrtho Co. will post 4.86 EPS for the current 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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