ArrowMark Colorado Holdings LLC Acquires 100,522 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

ArrowMark Colorado Holdings LLC grew its position in QuidelOrtho Co. (NASDAQ:QDEL - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,977,697 shares of the company's stock after purchasing an additional 100,522 shares during the period. QuidelOrtho comprises about 1.2% of ArrowMark Colorado Holdings LLC's holdings, making the stock its 25th largest position. ArrowMark Colorado Holdings LLC owned approximately 2.94% of QuidelOrtho worth $88,106,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new position in QuidelOrtho in the 4th quarter valued at $43,000. Blue Trust Inc. increased its stake in shares of QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock worth $58,000 after purchasing an additional 844 shares during the period. Spire Wealth Management acquired a new position in shares of QuidelOrtho during the 4th quarter worth about $74,000. KBC Group NV boosted its stake in QuidelOrtho by 122.9% during the 4th quarter. KBC Group NV now owns 3,437 shares of the company's stock valued at $153,000 after purchasing an additional 1,895 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in QuidelOrtho by 75.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,726 shares of the company's stock valued at $166,000 after buying an additional 1,601 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.

QuidelOrtho Trading Up 38.8 %

Shares of QDEL traded up $10.03 on Thursday, reaching $35.88. 3,613,891 shares of the company's stock were exchanged, compared to its average volume of 1,042,136. The business has a 50 day moving average price of $31.51 and a two-hundred day moving average price of $38.20. The stock has a market capitalization of $2.42 billion, a P/E ratio of -1.18 and a beta of 0.13. QuidelOrtho Co. has a 12 month low of $23.77 and a 12 month high of $49.45. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.13. The business had revenue of $692.80 million during the quarter, compared to the consensus estimate of $694.97 million. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The firm's revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. Research analysts anticipate that QuidelOrtho Co. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on QDEL shares. JPMorgan Chase & Co. cut their target price on shares of QuidelOrtho from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Royal Bank of Canada decreased their price objective on QuidelOrtho from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. UBS Group upped their price target on QuidelOrtho from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. StockNews.com downgraded shares of QuidelOrtho from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Finally, Jefferies Financial Group raised shares of QuidelOrtho from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $47.00.

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.